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 6,203, 1,979 total housing units (homes and apartments), and a median house value of $831,837, real estate costs in Morganville 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 Morganville, accounting for 81.19% of the town's housing units. Other types of housing that are prevalent in Morganville include large apartment complexes or high rise apartments ( 14.74%), mobile homes or trailers ( 2.43%), and a few row houses and other attached homes ( 1.64%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Morganville. Owner-occupied housing accounts for 89.52% of Morganville's homes, and 62.38% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Morganville 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 Morganville built between 2000 and later ( 31.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.79%). There's also some housing in Morganville built before 1939 ( 5.29%).
Morganville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Morganville during the period has been just 5.25%, which is lower than 70% of US communities.
Appreciation rates are so strong in Morganville that despite a nationwide downturn in the housing market, Morganville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morganville appreciation rates continue to be some of the highest in America, at 10.76%, which is higher than appreciation rates in 90.31% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morganville. Morganville 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 Morganville'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 town. Individual neighborhoods within Morganville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Morganville - 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 Morganville real estate investment or home purchase decisions.
$831,837
for New jersey
for nation
1,979
$5,161 / per month