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 10,734, 3,749 total housing units (homes and apartments), and a median house value of $284,255, Browns Mills real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Browns Mills homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Browns Mills, accounting for 79.89% of the town's housing units. Other types of housing that are prevalent in Browns Mills include mobile homes or trailers ( 7.51%), large apartment complexes or high rise apartments ( 7.18%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.96%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Browns Mills. Owner-occupied housing accounts for 77.88% of Browns Mills's homes, and 68.52% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Browns Mills built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Browns Mills built between 1940-1969 ( 32.54%). A lesser amount of the housing stock also hails from before 1939 ( 7.42%). There's also some housing in Browns Mills built between 2000 and later ( 5.73%).
Appreciation rates for homes in Browns Mills have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.71%, which ranks in the top 40% nationwide. This equates to an annual average Browns Mills house appreciation rate of 7.11%.
Appreciation rates are so strong in Browns Mills that despite a nationwide downturn in the housing market, Browns Mills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Browns Mills appreciation rates continue to be some of the highest in America, at 10.71%, which is higher than appreciation rates in 90.11% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Browns Mills. Browns Mills 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 Browns Mills's latest annual appreciation rate is higher than 50% 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 town. Individual neighborhoods within Browns Mills differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Browns Mills - 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 Browns Mills real estate investment or home purchase decisions.
$284,255
for New jersey
for nation
3,749
$1,906 / per month