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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Montclair, NJ Real Estate Market

Source & Methodology

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

Montclair, NJ Housing Market Trends

With a population of 39,821, 15,100 total housing units (homes and apartments), and a median house value of $1,243,494, Montclair house prices are not only among the most expensive in New Jersey, Montclair 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 Montclair, accounting for 49.33% of the township's housing units. Other types of housing that are prevalent in Montclair include large apartment complexes or high rise apartments ( 27.47%), duplexes, homes converted to apartments or other small apartment buildings ( 20.19%), and a few row houses and other attached homes ( 2.99%).

People in Montclair primarily live in small (one, two or no bedroom) single-family detached homes. Montclair has a mixture of owner-occupied and renter-occupied housing.

The housing in Montclair was primarily built before 1939 ( 60.11%), making the housing stock in Montclair some of the oldest overall in America, although there is a range of ages of homes in Montclair. The next most important housing age is between 1940-1969 ( 22.43%), followed by between 1970-1999 ( 10.25%). There's also some housing in Montclair built between 2000 and later ( 7.21%).

Montclair Home Appreciation Rates

Appreciation rates for homes in Montclair have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.32%, which ranks in the top 40% nationwide. This equates to an annual average Montclair house appreciation rate of 6.98%.

Appreciation rates are so strong in Montclair that despite a nationwide downturn in the housing market, Montclair real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Montclair appreciation rates continue to be some of the highest in America, at 12.77%, which is higher than appreciation rates in 95.12% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Montclair. Montclair 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 Montclair'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 township. Individual neighborhoods within Montclair differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Montclair - 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 Montclair real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$1,243,494

Montclair, NJ Home Prices
> $1,461,000
$1,095,001 - $1,461,000
$731,001 - $1,095,000
$585,001 - $731,000
$438,001 - $585,000
$292,001 - $438,000
$146,001 - $292,000
$73,001 - $146,000
$0 - $73,000
24.5%
24.5%
24.6%
24.6%
23.1%
23.1%
11.6%
11.6%
8.4%
8.4%
5.1%
5.1%
0.9%
0.9%
0.5%
0.5%
1.4%
1.4%
0% 100.0%
% of Homes
Very High

for New jersey

Very High

for nation

Number of Homes And Apartments:

15,100

Montclair Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,341 / per month

Homeownership Rate

Owners
Renters
59.5%
59.5%
40.5%
40.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.7%
6.7%
93.3%
93.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
7.2%
7.2%
10.3%
10.3%
22.4%
22.4%
60.1%
60.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.3%
49.3%
3.0%
3.0%
20.2%
20.2%
27.5%
27.5%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.4%
3.4%
18.3%
18.3%
24.4%
24.4%
18.5%
18.5%
16.1%
16.1%
19.4%
19.4%
0% 100.0%
% of Homes