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 38,561, 16,473 total housing units (homes and apartments), and a median house value of $335,127, Atlantic City real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Atlantic City homes are still considered rather expensive.
Large apartment complexes or high rise apartments are the single most common housing type in Atlantic City, accounting for 48.73% of the city's housing units. Other types of housing that are prevalent in Atlantic City include row houses and other attached homes ( 17.59%), single-family detached homes ( 17.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 15.95%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
Atlantic City is dominated by renter-occupied one, two, or no bedrooms apartments. 69.61% of Atlantic City's dwellings are rentals.
The housing in Atlantic City was primarily built before 1939 ( 34.61%), making the housing stock in Atlantic City some of the oldest overall in America, although there is a range of ages of homes in Atlantic City. The next most important housing age is between 1970-1999 ( 29.66%), followed by between 1940-1969 ( 28.62%). There's also some housing in Atlantic City built between 2000 and later ( 7.11%).
Vacant housing appears to be an issue in Atlantic City. Fully 20.19% of the housing stock is classified as vacant. Left unchecked, vacant Atlantic City homes and apartments can be a drag on the real estate market, holding Atlantic City 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.
Appreciation rates for homes in Atlantic City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 105.45%, which ranks in the top 30% nationwide. This equates to an annual average Atlantic City house appreciation rate of 7.47%.
Appreciation rates are so strong in Atlantic City that despite a nationwide downturn in the housing market, Atlantic City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Atlantic City appreciation rates continue to be some of the highest in America, at 18.93%, which is higher than appreciation rates in 99.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Atlantic City. Atlantic City appreciation rates in the latest quarter were at 7.43%, which equates to an annual appreciation rate of 33.19%.
Importantly, NeighborhoodScout’s exclusive research found that Atlantic City's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to New Jersey, our data show that Atlantic City's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Atlantic City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Atlantic City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Atlantic City real estate investment or home purchase decisions.
$335,127
for New jersey
for nation
16,473
$2,248 / per month