New Jersey Real Estate
According to census data in the year 2000 there were 3,310,275 housing units in New Jersey.
This represents a 7.6% from 3,075,310 in 1990.
Of those housing units, 3,134,164 were located in either urbanized areas or urban clusters, and 176,111 were located in what is classified as a rural area.
Homeownership rate in New Jersey is about 65.6%.
New Jersey's vacancy rate, including seasonal lodging, is about 7.4%.
Average household size is 2.68 people.
The majority of houses, apartments or condos in New Jersey were built after 1962.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 2.3% |
| One Bedroom | 16% |
| Two Bedrooms | 26.3% |
| Three Bedrooms | 32.9% |
| Four Bedrooms | 17.8% |
| Five Bedrooms or more | 4.8% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.85 |
| Median year structure was built | 1962 |
| Median Value of occupied units | $170,800 |
| Median Price asked for vacant units | $128,000 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.37 |
| Median year structure was built | 1960 |
| Median Monthly Rent asked for vacant units | $660 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.1% |
| Second Mortgage | 7.1% |
| Home Equity Loan | 10.7% |
| Simple Mortgage | 53.3% |
| Debt Free | 28.5% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 21.8% |
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