RIVER EDGE HOUSING MARKET INFORMATION With a population of 11,995, 4,377 total housing units (homes and apartments), and a median house value of $885,233, real estate costs in River Edge 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 River Edge, accounting for 72.81% of the borough's housing units. Other types of housing that are prevalent in River Edge include duplexes, homes converted to apartments or other small apartment buildings ( 15.38%), large apartment complexes or high rise apartments ( 8.46%), and a few row houses and other attached homes ( 3.01%). Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in River Edge. Owner-occupied housing accounts for 75.76% of River Edge's homes, and 65.89% 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. River Edge's housing was primarily built during this period, from the '40s through the '60s. A full 59.92% of the borough's housing hails from this era. Other housing ages represented in River Edge include homes built before 1939 ( 17.04%) and housing constructed between 1970-1999 ( 13.95%). There's also some housing in River Edge built between 2000 and later ( 9.09%). RIVER EDGE HOME APPRECIATION RATES Real estate appreciation rates in River Edge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.02% during the period. Appreciation rates are so strong in River Edge that despite a nationwide downturn in the housing market, River Edge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, River Edge appreciation rates continue to be some of the highest in America, at 11.98%, which is higher than appreciation rates in 97.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in River Edge. River Edge appreciation rates in the latest quarter were at 2.11%, which equates to an annual appreciation rate of 8.71%. Relative to New Jersey, our data show that River Edge's latest annual appreciation rate is higher than 80% of the other cities and towns in New Jersey.