Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 3,701, 1,523 total housing units (homes and apartments), and a median house value of $325,671, Woodstown real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Woodstown homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Woodstown, accounting for 62.82% of the borough's housing units. Other types of housing that are prevalent in Woodstown include large apartment complexes or high rise apartments ( 16.47%), duplexes, homes converted to apartments or other small apartment buildings ( 13.31%), and a few row houses and other attached homes ( 5.34%).
The most prevalent building size and type in Woodstown are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 62.97% owning and 37.03% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Woodstown's housing was primarily built during this period, from the '40s through the '60s. A full 30.64% of the borough's housing hails from this era. Other housing ages represented in Woodstown include homes built between 1970-1999 ( 29.83%) and housing constructed before 1939 ( 25.70%). There's also some housing in Woodstown built between 2000 and later ( 13.83%).
Vacant housing appears to be an issue in Woodstown. Fully 12.62% of the housing stock is classified as vacant. Left unchecked, vacant Woodstown homes and apartments can be a drag on the real estate market, holding Woodstown real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Woodstown's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Woodstown during the period has been just 5.35%, which is lower than 70% of US communities.
Appreciation rates are so strong in Woodstown that despite a nationwide downturn in the housing market, Woodstown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Woodstown appreciation rates continue to be some of the highest in America, at 8.16%, which is higher than appreciation rates in 71.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Woodstown. Woodstown appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to New Jersey, our data show that Woodstown's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.
$325,671
for New jersey
for nation
1,523
$2,170 / per month