Pennsville, 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
Pennsville, NJ Housing Market Trends
With a population of 12,043, 4,955 total housing units (homes and apartments), and a median house value of $276,696, Pennsville real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Pennsville homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Pennsville, accounting for 76.05% of the town's housing units. Other types of housing that are prevalent in Pennsville include large apartment complexes or high rise apartments ( 11.87%), duplexes, homes converted to apartments or other small apartment buildings ( 6.48%), and a few mobile homes or trailers ( 3.91%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pennsville. Owner-occupied housing accounts for 76.71% of Pennsville's homes, and 58.23% 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. Pennsville's housing was primarily built during this period, from the '40s through the '60s. A full 46.02% of the town's housing hails from this era. Other housing ages represented in Pennsville include homes built between 1970-1999 ( 32.79%) and housing constructed before 1939 ( 14.76%). There's also some housing in Pennsville built between 2000 and later ( 6.43%).
Vacant housing appears to be an issue in Pennsville. Fully 11.06% of the housing stock is classified as vacant. Left unchecked, vacant Pennsville homes and apartments can be a drag on the real estate market, holding Pennsville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Pennsville Home Appreciation Rates
Real estate appreciation rates in Pennsville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.97% during the period.
Appreciation rates are so strong in Pennsville that despite a nationwide downturn in the housing market, Pennsville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pennsville appreciation rates continue to be some of the highest in America, at 11.09%, which is higher than appreciation rates in 91.34% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pennsville. Pennsville appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to New Jersey, our data show that Pennsville's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.
Median Home Value
$276,696
Very Low
for New jersey
Average
for nation
Number of Homes And Apartments:
4,955
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:
$2,063 / per month