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 69,527, 27,198 total housing units (homes and apartments), and a median house value of $584,691, real estate costs in Bayonne are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Bayonne, accounting for 48.31% of the city's housing units. Other types of housing that are prevalent in Bayonne include large apartment complexes or high rise apartments ( 30.54%), single-family detached homes ( 14.74%), and a few row houses and other attached homes ( 6.04%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Bayonne primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Bayonne has a mixture of owner-occupied and renter-occupied housing.
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. Bayonne's housing was primarily built during this period, from the '40s through the '60s. A full 36.11% of the city's housing hails from this era. Other housing ages represented in Bayonne include homes built before 1939 ( 34.39%) and housing constructed between 1970-1999 ( 19.10%). There's also some housing in Bayonne built between 2000 and later ( 10.40%).
Appreciation rates for homes in Bayonne have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.19%, which ranks in the top 50% nationwide. This equates to an annual average Bayonne house appreciation rate of 6.92%.
NeighborhoodScout's data show that during the latest twelve months, Bayonne's appreciation rate, at 7.53%, has been at or slightly above the national average. In the latest quarter, Bayonne's appreciation rate has been 2.82%, which annualizes to a rate of 11.77%.
Relative to New Jersey, our data show that Bayonne's latest annual appreciation rate is lower 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 Bayonne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bayonne - 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 Bayonne real estate investment or home purchase decisions.
$584,691
for New jersey
for nation
27,198
$3,004 / per month