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 20,085 people, 7,176 houses or apartments, and a median cost of homes of $712,039, real estate costs in Sparta 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 Sparta, accounting for 86.90% of the township's housing units. Other types of housing that are prevalent in Sparta include row houses and other attached homes ( 8.50%), large apartment complexes or high rise apartments ( 1.79%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.79%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Sparta. Owner-occupied housing accounts for 89.13% of Sparta's homes, and 72.36% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Sparta 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 Sparta built between 1940-1969 ( 29.50%). A lesser amount of the housing stock also hails from before 1939 ( 15.93%). There's also some housing in Sparta built between 2000 and later ( 12.84%).
Real estate appreciation rates in Sparta's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.76% during the period.
Appreciation rates are so strong in Sparta that despite a nationwide downturn in the housing market, Sparta real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sparta appreciation rates continue to be some of the highest in America, at 12.19%, which is higher than appreciation rates in 94.05% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sparta. Sparta 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 Sparta's latest annual appreciation rate is higher 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 township. Individual neighborhoods within Sparta differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sparta - 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 Sparta real estate investment or home purchase decisions.
$712,039
for New jersey
for nation
7,176
$3,645 / per month