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 5,274 people, 2,088 houses or apartments, and a median cost of homes of $631,135, real estate costs in Forked River 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.
Single-family detached homes are the single most common housing type in Forked River, accounting for 97.64% of the town's housing units. Other types of housing that are prevalent in Forked River include row houses and other attached homes ( 1.81%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Forked River. Owner-occupied housing accounts for 87.28% of Forked River's homes, and 77.04% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Forked River 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 Forked River built between 1940-1969 ( 27.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.98%). There's also some housing in Forked River built before 1939 ( 1.81%).
Vacant housing appears to be an issue in Forked River. Fully 23.04% of the housing stock is classified as vacant. Left unchecked, vacant Forked River homes and apartments can be a drag on the real estate market, holding Forked River 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 Forked River have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 104.95%, which ranks in the top 30% nationwide. This equates to an annual average Forked River house appreciation rate of 7.44%.
Appreciation rates are so strong in Forked River that despite a nationwide downturn in the housing market, Forked River real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Forked River appreciation rates continue to be some of the highest in America, at 12.67%, which is higher than appreciation rates in 94.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Forked River. Forked River appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New Jersey, our data show that Forked River's latest annual appreciation rate is higher than 70% 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 Forked River differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forked River - 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 Forked River real estate investment or home purchase decisions.
$631,135
for New jersey
for nation
2,088
$3,242 / per month