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 13,325 people, 4,530 houses or apartments, and a median cost of homes of $987,174, Florham Park house prices are not only among the most expensive in New Jersey, Florham Park real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Florham Park, accounting for 51.63% of the borough's housing units. Other types of housing that are prevalent in Florham Park include large apartment complexes or high rise apartments ( 31.48%), row houses and other attached homes ( 13.92%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.97%).
The most prevalent building size and type in Florham Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 60.14% owning and 39.86% renting.
There is a lot of housing in Florham Park 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 Florham Park built between 1940-1969 ( 35.27%). A lesser amount of the housing stock also hails from between 2000 and later ( 23.90%). There's also some housing in Florham Park built before 1939 ( 4.37%).
Florham Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Florham Park during the period has been just 4.75%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Florham Park's appreciation rate, at 10.89%, has been at or slightly above the national average. In the latest quarter, Florham Park's appreciation rate has been 4.31%, which annualizes to a rate of 18.41%.
Relative to New Jersey, our data show that Florham Park's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
$987,174
for New jersey
for nation
4,530
$5,834 / per month