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 10,397, 4,258 total housing units (homes and apartments), and a median house value of $572,668, real estate costs in East Rutherford 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 East Rutherford, accounting for 40.47% of the borough's housing units. Other types of housing that are prevalent in East Rutherford include large apartment complexes or high rise apartments ( 35.84%), single-family detached homes ( 17.43%), and a few row houses and other attached homes ( 6.26%). Boroughs that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of boroughs are often walkable and compact, and often have a lively downtown.
East Rutherford is dominated by renter-occupied one, two, or no bedrooms apartments. 66.14% of East Rutherford's dwellings are rentals.
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. East Rutherford's housing was primarily built during this period, from the '40s through the '60s. A full 37.08% of the borough's housing hails from this era. Other housing ages represented in East Rutherford include homes built between 1970-1999 ( 22.82%) and housing constructed between 2000 and later ( 20.53%). There's also some housing in East Rutherford built before 1939 ( 19.56%).
Real estate appreciation rates in East Rutherford's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.99% during the period.
NeighborhoodScout's data show that during the latest twelve months, East Rutherford's appreciation rate, at 7.16%, has been at or slightly above the national average. In the latest quarter, East Rutherford's appreciation rate has been 2.82%, which annualizes to a rate of 11.77%.
Relative to New Jersey, our data show that East Rutherford's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.
$572,668
$3,061 / per month