Property Values Down In N.J., But How Does Moorestown Compare?

Moorestown, NJ -- While much of Burlington County’s housing market is down, Moorestown appears to be an oasis of success in a red desert.

Moorestown’s home values are up by 0.41 percent since pre-2010, according to the map below provided by NJ Spotlight.

On the map, green is good, tan is mediocre and brown is bad.

While Mount Laurel is tan (home values are down over 6 percent), Delran is brown (a drop of over 13 percent in home values), Cinnaminson is tan (a drop of 11 percent in home values) and Maple Shade is brown ( a drop of over 14 percent in values), Moorestown sticks out as the only green area.

Over 8 percent of Moorestown’s homes are valued at $1 million, and the median home value is $486,000.
Out of 7,747 housing units, 83.5 percent are owned and 16.5 percent are rented. The median monthly cost for a mortgaged home is $3,134, and the median cost for a home without a mortgage is $1,360. The average renter owes $1,127 a month.

The median decline in residential values in New Jersey was close to 11 percent, according to the 2015 American Community Survey data released last week and published on NJ Spotlight.

The reports said the typical home in the state was valued at almost $316,000 when averaged over the 2011-2015 period — 11.5 percent less than the 2006-2010 community survey estimate.

NJ Spotlight noted that 13 communities had a median home value of more than $1 million, with two of those — Alpine and Mantoloking — valued at more than $2 million. The lowest home value was in Camden, whose $84,600 estimate was below the $90,000 valuation in Winfield, the municipality with the second-lowest median value.

Here is the map. Run your cursor over it to find out the number of total housing units, the percentage of homes owned or rented, the median housing values, housing coasts and the 7-year changes. Also, click on the map and hold the cursor down to move the map so you can see everything.