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 7,230 people, 2,303 houses or apartments, and a median cost of homes of $1,806,842, Rumson house prices are not only among the most expensive in New Jersey, Rumson real estate also is some of the most expensive in all of America.
Rumson is a borough of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Rumson than is found in 98% of the communities in America.
The large homes that make up Rumson are primarily owner-occupied ( 92.54%).
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. Rumson's housing was primarily built during this period, from the '40s through the '60s. A full 30.79% of the borough's housing hails from this era. Other housing ages represented in Rumson include homes built between 2000 and later ( 27.68%) and housing constructed before 1939 ( 23.04%). There's also some housing in Rumson built between 1970-1999 ( 18.48%).
Appreciation rates for homes in Rumson have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.01%, which ranks in the top 50% nationwide. This equates to an annual average Rumson house appreciation rate of 6.85%.
Appreciation rates are so strong in Rumson that despite a nationwide downturn in the housing market, Rumson real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Rumson appreciation rates continue to be some of the highest in America, at 13.60%, which is higher than appreciation rates in 96.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Rumson. Rumson 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 Rumson's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.
$1,806,842
for New jersey
for nation
2,303
$3,625 / per month