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 5,216 people, 2,584 houses or apartments, and a median cost of homes of $1,020,604, Margate City house prices are not only among the most expensive in New Jersey, Margate City real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Margate City, accounting for 59.76% of the city's housing units. Other types of housing that are prevalent in Margate City include large apartment complexes or high rise apartments ( 24.36%), duplexes, homes converted to apartments or other small apartment buildings ( 10.14%), and a few row houses and other attached homes ( 5.74%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Margate City. Owner-occupied housing accounts for 89.66% of Margate City's homes, and 53.37% have either three or four bedrooms, which is average sized relative to America.
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. Margate City's housing was primarily built during this period, from the '40s through the '60s. A full 40.15% of the city's housing hails from this era. Other housing ages represented in Margate City include homes built between 1970-1999 ( 27.04%) and housing constructed between 2000 and later ( 17.67%). There's also some housing in Margate City built before 1939 ( 15.13%).
A decent proportion of the Margate City housing stock is seasonally occupied. That is, homes and condos in Margate City are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Margate City housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Margate City has experienced some of the highest home appreciation rates of any community in the nation. Margate City real estate appreciated 138.72% over the last ten years, which is an average annual home appreciation rate of 9.09%, putting Margate City in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Margate City 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 Margate City that despite a nationwide downturn in the housing market, Margate City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Margate City appreciation rates continue to be some of the highest in America, at 16.61%, which is higher than appreciation rates in 98.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Margate City. Margate City appreciation rates in the latest quarter were at 7.43%, which equates to an annual appreciation rate of 33.19%.
Importantly, this makes Margate City one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to New Jersey, our data show that Margate City's latest annual appreciation rate is higher than 90% of the other cities and towns in New Jersey.
$1,020,604
for New jersey
for nation
2,584
$975 / per month