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 14,422 people, 4,575 houses or apartments, and a median cost of homes of $2,321,863, Short Hills house prices are not only among the most expensive in New Jersey, Short Hills real estate also is some of the most expensive in all of America.
Short Hills is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Short Hills than is found in 98% of the communities in America.
The large homes that make up Short Hills are primarily owner-occupied ( 86.34%).
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. Short Hills's housing was primarily built during this period, from the '40s through the '60s. A full 52.48% of the town's housing hails from this era. Other housing ages represented in Short Hills include homes built before 1939 ( 25.25%) and housing constructed between 2000 and later ( 14.27%). There's also some housing in Short Hills built between 1970-1999 ( 8.00%).
Appreciation rates for homes in Short Hills have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.98%, which ranks in the top 50% nationwide. This equates to an annual average Short Hills house appreciation rate of 6.91%.
Appreciation rates are so strong in Short Hills that despite a nationwide downturn in the housing market, Short Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Short Hills appreciation rates continue to be some of the highest in America, at 9.45%, which is higher than appreciation rates in 83.95% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Short Hills. Short Hills 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 Short Hills's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
$2,321,863
for New jersey
for nation
4,575
$6,883 / per month