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 68,446 people, 26,359 houses or apartments, and a median cost of homes of $434,199, East Orange real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in East Orange, accounting for 50.85% of the city's housing units. Other types of housing that are prevalent in East Orange include duplexes, homes converted to apartments or other small apartment buildings ( 26.85%), single-family detached homes ( 18.22%), and a few row houses and other attached homes ( 3.97%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
East Orange is dominated by renter-occupied one, two, or no bedrooms apartments. 72.39% of East Orange's dwellings are rentals.
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. East Orange's housing was primarily built during this period, from the '40s through the '60s. A full 38.16% of the city's housing hails from this era. Other housing ages represented in East Orange include homes built before 1939 ( 30.57%) and housing constructed between 1970-1999 ( 23.70%). There's also some housing in East Orange built between 2000 and later ( 7.57%).
In the last 10 years, East Orange has experienced some of the highest home appreciation rates of any community in the nation. East Orange real estate appreciated 133.36% over the last ten years, which is an average annual home appreciation rate of 8.84%, putting East Orange in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, East Orange definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in East Orange that despite a nationwide downturn in the housing market, East Orange real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Orange appreciation rates continue to be some of the highest in America, at 8.64%, which is higher than appreciation rates in 77.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Orange. East Orange 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 East Orange's latest annual appreciation rate is lower than 80% 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 city. Individual neighborhoods within East Orange differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Orange - 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 East Orange real estate investment or home purchase decisions.
$434,199
for New jersey
for nation
26,359
$2,640 / per month