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 8,176 people, 2,471 houses or apartments, and a median cost of homes of $532,520, Dunellen real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Dunellen, accounting for 64.48% of the borough's housing units. Other types of housing that are prevalent in Dunellen include duplexes, homes converted to apartments or other small apartment buildings ( 23.38%), large apartment complexes or high rise apartments ( 10.68%), and a few row houses and other attached homes ( 1.25%).
The most prevalent building size and type in Dunellen are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 63.07% owning and 36.93% renting.
The housing in Dunellen was primarily built before 1939 ( 40.29%), making the housing stock in Dunellen some of the oldest overall in America, although there is a range of ages of homes in Dunellen. The next most important housing age is between 1940-1969 ( 31.23%), followed by between 1970-1999 ( 16.70%). There's also some housing in Dunellen built between 2000 and later ( 11.78%).
Real estate appreciation rates in Dunellen's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.11% during the period.
Appreciation rates are so strong in Dunellen that despite a nationwide downturn in the housing market, Dunellen real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Dunellen appreciation rates continue to be some of the highest in America, at 11.98%, which is higher than appreciation rates in 95.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Dunellen. Dunellen appreciation rates in the latest quarter were at 2.11%, which equates to an annual appreciation rate of 8.71%.
Relative to New Jersey, our data show that Dunellen's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.
$532,520
for New jersey
for nation
2,471
$2,660 / per month