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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.



New Brunswick, 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

New Brunswick, NJ Housing Market Trends

With 55,998 people, 15,626 houses or apartments, and a median cost of homes of $391,290, New Brunswick real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, New Brunswick homes are still considered rather expensive.

Large apartment complexes or high rise apartments are the single most common housing type in New Brunswick, accounting for 43.75% of the city's housing units. Other types of housing that are prevalent in New Brunswick include duplexes, homes converted to apartments or other small apartment buildings ( 26.86%), single-family detached homes ( 22.25%), and a few row houses and other attached homes ( 7.14%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

New Brunswick is dominated by renter-occupied one, two, or no bedrooms apartments. 82.92% of New Brunswick'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. New Brunswick's housing was primarily built during this period, from the '40s through the '60s. A full 28.31% of the city's housing hails from this era. Other housing ages represented in New Brunswick include homes built between 1970-1999 ( 26.64%) and housing constructed between 2000 and later ( 22.84%). There's also some housing in New Brunswick built before 1939 ( 22.21%).

New Brunswick Home Appreciation Rates

New Brunswick's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Brunswick during the period has been just 5.53%, which is lower than 70% of US communities.

Appreciation rates are so strong in New Brunswick that despite a nationwide downturn in the housing market, New Brunswick real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Brunswick appreciation rates continue to be some of the highest in America, at 9.07%, which is higher than appreciation rates in 81.38% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Brunswick. New Brunswick 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 New Brunswick's latest annual appreciation rate is lower 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 city. Individual neighborhoods within New Brunswick differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Brunswick - 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 New Brunswick real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$391,290

New Brunswick, NJ Home Prices
> $1,279,000
$960,001 - $1,279,000
$640,001 - $960,000
$511,001 - $640,000
$384,001 - $511,000
$256,001 - $384,000
$128,001 - $256,000
$64,001 - $128,000
$0 - $64,000
2.0%
2.0%
0.8%
0.8%
9.7%
9.7%
15.4%
15.4%
24.9%
24.9%
32.7%
32.7%
7.3%
7.3%
0.0%
0.0%
7.3%
7.3%
0% 100.0%
% of Homes
Very Low

for New jersey

High

for nation

Number of Homes And Apartments:

15,626

New Brunswick Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,470 / per month

Homeownership Rate

Owners
Renters
17.1%
17.1%
82.9%
82.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.5%
7.5%
92.5%
92.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.8%
22.8%
26.6%
26.6%
28.3%
28.3%
22.2%
22.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
22.3%
22.3%
7.1%
7.1%
26.9%
26.9%
43.7%
43.7%
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
8.7%
8.7%
24.1%
24.1%
39.3%
39.3%
19.3%
19.3%
5.5%
5.5%
3.1%
3.1%
0% 100.0%
% of Homes