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 20,614 people, 7,451 houses or apartments, and a median cost of homes of $626,641, real estate costs in Hazlet 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 Hazlet, accounting for 85.22% of the township's housing units. Other types of housing that are prevalent in Hazlet include mobile homes or trailers ( 7.88%), large apartment complexes or high rise apartments ( 3.41%), and a few row houses and other attached homes ( 1.92%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hazlet. Owner-occupied housing accounts for 89.99% of Hazlet's homes, and 75.88% 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. Hazlet's housing was primarily built during this period, from the '40s through the '60s. A full 58.89% of the township's housing hails from this era. Other housing ages represented in Hazlet include homes built between 1970-1999 ( 32.72%) and housing constructed before 1939 ( 4.63%). There's also some housing in Hazlet built between 2000 and later ( 3.75%).
Appreciation rates for homes in Hazlet have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.91%, which ranks in the top 40% nationwide. This equates to an annual average Hazlet house appreciation rate of 6.96%.
Appreciation rates are so strong in Hazlet that despite a nationwide downturn in the housing market, Hazlet real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hazlet appreciation rates continue to be some of the highest in America, at 11.49%, which is higher than appreciation rates in 92.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hazlet. Hazlet 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 Hazlet's latest annual appreciation rate is higher than 60% of the other cities and towns in New Jersey.
$626,641
for New jersey
for nation
7,451
$2,147 / per month