Rumson NJ Homes for Sale
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Rumson, NJ Homes for Sale 100K – 200K
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RUMSON NJ HOMES FOR SALE
With a population of 6,776, 2,182 total housing units (homes and apartments), and a median house value of $1,107,647, Rumson house prices are not only among the most expensive in New Jersey, Rumson real estate also is some of the most expensive in all of America.
Rumson is a borough of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Rumson than is found in 98% of the communities in America.
The large homes that make up Rumson are primarily owner-occupied ( 91.68%).
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. Rumson’s housing was primarily built during this period, from the ’40s through the ’60s. A full 36.20% of the borough’s housing hails from this era. Other housing ages represented in Rumson include homes built before 1939 ( 24.52%) and housing constructed between 2000 and later ( 22.79%). There’s also some housing in Rumson built between 1970-1999 ( 16.50%).
Vacant housing appears to be an issue in Rumson. Fully 10.24% of the housing stock is classified as vacant. Left unchecked, vacant Rumson homes and apartments can be a drag on the real estate market, holding Rumson real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
RUMSON HOME APPRECIATION RATES
Appreciation rates for homes in Rumson have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 43.39%, which ranks in the top 30% nationwide. This equates to an annual average Rumson house appreciation rate of 3.67%. Relative to New Jersey, our data show that Rumson’s latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey. Information Provided By: https://www.neighborhoodscout.com/nj/rumson/real-estate#description