The housing market in Woodcliff Lake, NJ (Zip code 07677) has been on the rise for the past year. According to recently released data, the median value of a house in this area is currently $902,200. This is significantly higher than the US House Median Value of $338,100. The national 1 year house appreciation rate is 8.27%, while it stands at 10.32% in Woodcliff Lake, NJ indicating a positive trend in the local housing market. This increase in value could be attributed to strong demand for homes and limited inventory. Residents have taken advantage of low interest rates and favorable economic conditions to invest in real estate within this area, thus driving up prices and creating an attractive investment opportunity for those looking to purchase or rent a home within this zip code.
The median home cost in Woodcliff Lake (zip 07677) is $902,200. Home appreciation the last 10 years has been 52.1%. Home Appreciation in Woodcliff Lake (zip 07677) is up 9.0%.
Average Age of Homes
- The median age of Woodcliff Lake (zip 07677) real estate is 50 years old
The Rental Market in Woodcliff Lake (zip 07677)
- Renters make up 10.8% of the Woodcliff Lake (zip 07677) population
- 0.0% of houses and apartments in Woodcliff Lake (zip 07677), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.