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 a population of 10,232, 4,077 total housing units (homes and apartments), and a median house value of $540,836, Lake Hopatcong real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Lake Hopatcong, accounting for 90.10% of the town's housing units. Other types of housing that are prevalent in Lake Hopatcong include large apartment complexes or high rise apartments ( 4.63%), duplexes, homes converted to apartments or other small apartment buildings ( 2.98%), and a few row houses and other attached homes ( 1.86%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Hopatcong. Owner-occupied housing accounts for 90.79% of Lake Hopatcong's homes, and 57.71% have either three or four bedrooms, which is average sized relative to America.
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. Lake Hopatcong's housing was primarily built during this period, from the '40s through the '60s. A full 53.01% of the town's housing hails from this era. Other housing ages represented in Lake Hopatcong include homes built between 1970-1999 ( 21.96%) and housing constructed between 2000 and later ( 14.99%). There's also some housing in Lake Hopatcong built before 1939 ( 10.04%).
Lake Hopatcong's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lake Hopatcong during the period has been just 5.45%, which is lower than 70% of US communities.
Over the last year, Lake Hopatcong appreciation rates have trailed the rest of the nation. In the last twelve months, Lake Hopatcong's appreciation rate has been 4.67%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lake Hopatcong were at 2.72%, which equates to an annual appreciation rate of 11.31%.
Relative to New Jersey, our data show that Lake Hopatcong's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.
$540,836
for New jersey
for nation
4,077
$3,096 / per month