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 12,653 people, 4,381 houses or apartments, and a median cost of homes of $700,828, real estate costs in Oakland are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.
Single-family detached homes are the single most common housing type in Oakland, accounting for 91.33% of the borough's housing units. Other types of housing that are prevalent in Oakland include row houses and other attached homes ( 4.51%), duplexes, homes converted to apartments or other small apartment buildings ( 2.42%), and a few large apartment complexes or high rise apartments ( 1.64%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Oakland. Owner-occupied housing accounts for 89.61% of Oakland's homes, and 76.28% 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. Oakland's housing was primarily built during this period, from the '40s through the '60s. A full 67.31% of the borough's housing hails from this era. Other housing ages represented in Oakland include homes built between 1970-1999 ( 17.22%) and housing constructed before 1939 ( 8.52%). There's also some housing in Oakland built between 2000 and later ( 6.95%).
Oakland's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Oakland during the period has been just 4.50%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Oakland's appreciation rate, at 10.52%, has been at or slightly above the national average. In the latest quarter, Oakland's appreciation rate has been 4.17%, which annualizes to a rate of 17.75%.
Relative to New Jersey, our data show that Oakland's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.
$700,828
for New jersey
for nation
4,381
$3,188 / per month