Lodi, NJ Real Estate Market
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.
Date(s) & Update Frequency:
- Home Values, Rents: Reflects Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Lodi, NJ Housing Market Trends
With 25,786 people, 9,279 houses or apartments, and a median cost of homes of $601,300, real estate costs in Lodi 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 Lodi, accounting for 52.81% of the borough's housing units. Other types of housing that are prevalent in Lodi include single-family detached homes ( 24.81%), large apartment complexes or high rise apartments ( 14.81%), and a few row houses and other attached homes ( 4.32%). This particular housing mix is relatively uncommon and characteristic of boroughs that are compact and walkable, and which often have a lively downtown.
People in Lodi primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Lodi 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. Lodi's housing was primarily built during this period, from the '40s through the '60s. A full 55.86% of the borough's housing hails from this era. Other housing ages represented in Lodi include homes built between 1970-1999 ( 22.08%) and housing constructed before 1939 ( 16.74%). There's also some housing in Lodi built between 2000 and later ( 5.31%).
Lodi Home Appreciation Rates
Real estate appreciation rates in Lodi's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.36% during the period.
Appreciation rates are so strong in Lodi that despite a nationwide downturn in the housing market, Lodi real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lodi appreciation rates continue to be some of the highest in America, at 11.10%, which is higher than appreciation rates in 91.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lodi. Lodi 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 Lodi'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 borough. Individual neighborhoods within Lodi differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lodi - 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 Lodi real estate investment or home purchase decisions.
Median Home Value
$601,300
Average
for New jersey
Very High
for nation
Number of Homes And Apartments:
9,279
NJ
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$3,118 / per month