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 55,357 people, 18,409 houses or apartments, and a median cost of homes of $497,462, Perth Amboy real estate prices are well above average cost compared to national prices.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Perth Amboy, accounting for 38.21% of the city's housing units. Other types of housing that are prevalent in Perth Amboy include single-family detached homes ( 30.07%), large apartment complexes or high rise apartments ( 24.73%), and a few row houses and other attached homes ( 6.88%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
Perth Amboy is dominated by renter-occupied one, two, or no bedrooms apartments. 65.01% of Perth Amboy's dwellings are rentals.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Perth Amboy's housing was primarily built during this period, from the '40s through the '60s. A full 33.36% of the city's housing hails from this era. Other housing ages represented in Perth Amboy include homes built before 1939 ( 32.02%) and housing constructed between 1970-1999 ( 22.13%). There's also some housing in Perth Amboy built between 2000 and later ( 12.49%).
In the last 10 years, Perth Amboy has experienced some of the highest home appreciation rates of any community in the nation. Perth Amboy real estate appreciated 119.61% over the last ten years, which is an average annual home appreciation rate of 8.18%, putting Perth Amboy in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Perth Amboy definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Perth Amboy's appreciation rate, at 10.81%, has been at or slightly above the national average. In the latest quarter, Perth Amboy's appreciation rate has been 4.06%, which annualizes to a rate of 17.26%.
Relative to New Jersey, our data show that Perth Amboy's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Perth Amboy differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Perth Amboy - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Perth Amboy real estate investment or home purchase decisions.
$497,462
for New jersey
for nation
18,409
$2,937 / per month