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 2,200 people, 835 houses or apartments, and a median cost of homes of $1,068,602, Cranbury house prices are not only among the most expensive in New Jersey, Cranbury real estate also is some of the most expensive in all of America.
Cranbury is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Cranbury than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cranbury. Owner-occupied housing accounts for 83.60% of Cranbury's homes, and 72.13% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Cranbury 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 Cranbury built before 1939 ( 31.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.13%). There's also some housing in Cranbury built between 2000 and later ( 5.11%).
Cranbury's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cranbury during the period has been just 4.60%, which is lower than 80% of US communities.
Appreciation rates are so strong in Cranbury that despite a nationwide downturn in the housing market, Cranbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cranbury appreciation rates continue to be some of the highest in America, at 9.76%, which is higher than appreciation rates in 86.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cranbury. Cranbury 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 Cranbury's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.
$1,068,602
for New jersey
for nation
835
$3,195 / per month