Wayne, NJ

Wayne is a city in the state of new-jersey with a population of roughly 53,954. It is in Passaic County, New Jersey the New York-Newark-Jersey City, NY-NJ-PA core-based statistical areas (CBSA), and the New York-Newark, NY-NJ-CT-PA combined statistical area (CSA).Its Zip codes include 07470 .

The Wayne Home Price Trend

Real estate in Wayne, NJ is a hot commodity. The borough has seen an influx of new residents and businesses in recent years, which has driven up demand for homes and commercial space. There are a number of factors that have contributed to this trend, including the growth of the New York City metropolitan area to the north and west, as well as the increasing popularity of suburban living.

The average price of a home in Wayne was $324,000 in 2017, which is considerably higher than the statewide average of $196,500. The borough also has a high concentration of luxury properties; according to Zillow, one out of every six homes sold in Wayne was priced at over $1 million last year. This high demand has led to significant prices appreciation over the past few years; according to Trulia, the median price for homes in Wayne increased by 43% between 2013 and 2017.

Despite these high prices, there are still plenty of affordable options available for buyers looking for a starter home or an investment property. The median list price for a home in Wayne is just under $200,000 – which is much lower than many other areas in New Jersey. Additionally, there are plenty of neighborhoods within Wayne that offer excellent value for your money; according to Zillow’s 2018 Home Value Index report*, nine out of 10 neighborhoods within Wayne rank among the top 20 most affordable places to live in New Jersey.

If you’re interested in buying or selling property in Wayne, be sure to contact our team at Fox Rothschild Real Estate! We can provide you with comprehensive information about all available properties and help you find the perfect solution for your needs.

Price Index: New York-Jersey City-White Plains, NY-NJ (MSAD)

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