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 59,977, 22,178 total housing units (homes and apartments), and a median house value of $456,735, Irvington real estate prices are well above average cost compared to national prices.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Irvington, accounting for 44.20% of the township's housing units. Other types of housing that are prevalent in Irvington include large apartment complexes or high rise apartments ( 35.59%), single-family detached homes ( 16.99%), and a few row houses and other attached homes ( 3.23%). Townships with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact townships that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
Irvington is dominated by renter-occupied one, two, or no bedrooms apartments. 70.50% of Irvington'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. Irvington's housing was primarily built during this period, from the '40s through the '60s. A full 43.00% of the township's housing hails from this era. Other housing ages represented in Irvington include homes built before 1939 ( 30.69%) and housing constructed between 1970-1999 ( 21.99%). There's also some housing in Irvington built between 2000 and later ( 4.32%).
In the last 10 years, Irvington has experienced some of the highest home appreciation rates of any community in the nation. Irvington real estate appreciated 177.77% over the last ten years, which is an average annual home appreciation rate of 10.76%, putting Irvington in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Irvington definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Irvington that despite a nationwide downturn in the housing market, Irvington real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Irvington appreciation rates continue to be some of the highest in America, at 15.32%, which is higher than appreciation rates in 97.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Irvington. Irvington 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 Irvington'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 township. Individual neighborhoods within Irvington differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Irvington - 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 Irvington real estate investment or home purchase decisions.
$456,735
for New jersey
for nation
22,178
$2,589 / per month