Analytics built by:
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: Ä¢¹½ÊÓÆµ uses over 600 characteristics to build a neighborhood profile…
With 11,507 people, 4,117 houses or apartments, and a median cost of homes of $209,721, house prices in Gloucester City are solidly below the national average.
Single-family detached homes are the single most common housing type in Gloucester City, accounting for 42.88% of the city's housing units. Other types of housing that are prevalent in Gloucester City include row houses and other attached homes ( 28.16%), large apartment complexes or high rise apartments ( 13.77%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 12.19%).
The most prevalent building size and type in Gloucester City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.89% owning and 43.11% renting.
The housing in Gloucester City was primarily built before 1939 ( 45.77%), making the housing stock in Gloucester City some of the oldest overall in America, although there is a range of ages of homes in Gloucester City. The next most important housing age is between 1940-1969 ( 26.86%), followed by between 1970-1999 ( 17.32%). There's also some housing in Gloucester City built between 2000 and later ( 10.05%).
In the last 10 years, Gloucester City has experienced some of the highest home appreciation rates of any community in the nation. Gloucester City real estate appreciated 129.07% over the last ten years, which is an average annual home appreciation rate of 8.64%, putting Gloucester City in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Gloucester City definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Ä¢¹½ÊÓÆµ's data show that during the latest twelve months, Gloucester City's appreciation rate, at 8.68%, has been at or slightly above the national average. In the latest quarter, Gloucester City's appreciation rate has been 1.61%, which annualizes to a rate of 6.61%.
Relative to New Jersey, our data show that Gloucester City's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
$209,721
for New jersey
for nation
4,117
$2,308 / per month