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 a population of 52,960, 18,907 total housing units (homes and apartments), and a median house value of $797,622, real estate costs in Wayne 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 Wayne, accounting for 66.90% of the township's housing units. Other types of housing that are prevalent in Wayne include large apartment complexes or high rise apartments ( 18.37%), row houses and other attached homes ( 9.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.53%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wayne. Owner-occupied housing accounts for 74.55% of Wayne's homes, and 63.10% 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. Wayne's housing was primarily built during this period, from the '40s through the '60s. A full 50.80% of the township's housing hails from this era. Other housing ages represented in Wayne include homes built between 1970-1999 ( 35.30%) and housing constructed between 2000 and later ( 7.16%). There's also some housing in Wayne built before 1939 ( 6.73%).
Wayne's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Wayne during the period has been just 4.82%, which is lower than 80% of US communities.
Appreciation rates are so strong in Wayne that despite a nationwide downturn in the housing market, Wayne real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wayne appreciation rates continue to be some of the highest in America, at 10.28%, which is higher than appreciation rates in 88.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wayne. Wayne 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 Wayne's latest annual appreciation rate is lower than 50% 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 Wayne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wayne - 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 Wayne real estate investment or home purchase decisions.
$797,622
for New jersey
for nation
18,907
$4,695 / per month