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 7,908, 2,530 total housing units (homes and apartments), and a median house value of $480,180, Monroeville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Monroeville, accounting for 90.06% of the town's housing units. Other types of housing that are prevalent in Monroeville include mobile homes or trailers ( 8.72%), row houses and other attached homes ( 1.21%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Monroeville. Owner-occupied housing accounts for 89.14% of Monroeville's homes, and 79.54% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Monroeville 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 Monroeville built between 2000 and later ( 26.24%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.16%). There's also some housing in Monroeville built before 1939 ( 18.35%).
Vacant housing appears to be an issue in Monroeville. Fully 12.00% of the housing stock is classified as vacant. Left unchecked, vacant Monroeville homes and apartments can be a drag on the real estate market, holding Monroeville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Monroeville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.62%, which ranks in the top 50% nationwide. This equates to an annual average Monroeville house appreciation rate of 6.78%.
Appreciation rates are so strong in Monroeville that despite a nationwide downturn in the housing market, Monroeville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Monroeville appreciation rates continue to be some of the highest in America, at 12.86%, which is higher than appreciation rates in 95.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Monroeville. Monroeville appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.90%.
Relative to New Jersey, our data show that Monroeville's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.
$480,180
for New jersey
for nation
2,530
$2,896 / per month