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There are currently 2,532 real estate properties in Rumson, NJ, with a median automated valuation model (AVM) price of $1,671,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Rumson, NJ, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Rumson, NJ, is $1,993,965.00, with the most expensive house in Rumson, NJ, topping out at $16,643,000.00 and the cheapest home in Rumson, NJ, clocking in at $198,000.00. In other words, there’s something for every potential homebuyer or savvy investor in Rumson, NJ!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Rumson, NJ, is on a rollercoaster ride. The average rent price in Rumson, NJ, is $4,654.00. Indeed, when looking to rent in Rumson, NJ, you can expect to pay as little as $1,370.00 or as much as $6,540.00, with the average rent median estimated to be $4,720.00. The good news is that finding an affordable and desirable property to rent in Rumson, NJ -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Rumson is located in Monmouth, New Jersey, with an estimated municipal population of 6,714 residents. All of the best foreclosed homes for sale in Rumson are located in the following zip code areas on Foreclosure.com: 07760. The estimated population per square kilometer (.62 miles) in Rumson is 511.
So, about how much do homes cost in Rumson? The most recent median value of resident-owned homes in Rumson is 1,180,467. An estimated 92.4 percent of households in Rumson own their homes, with an average family size of 3.39. The median household income in Rumson is 188,906, with73.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Rumson, the median commute time of resident workers (in minutes) is 46.3. And last, but certainly not least, are you looking for homes to rent in Rumson? If so, the average rent price paid by renters in Rumson is 2,206, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Rumson, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Rumson is 43.9, split between 49.7 percent male versus 50.3 female. The percentage of residents who report being married in Rumson is 70.2, with an average family size of 3.39.
The percentage of residents who report their race in Rumson is as follows:
|Black / African American
|American Indian / Alaskan Native
|Native Hawaiian / Other Pacifc Islander
Looking for family-friendly neighborhoods in and/or near Rumson? Or maybe you are searching for 55+ active adult communities in and/or near Rumson?
The percentage of residents who report their age in Rumson is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Rumson with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Rumson.
How do you know that living in -- or moving to -- Rumson is right where you need to be? Perhaps you grew up in Rumson or already live nearby; therefore, the decision to buy a home in Rumson is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Rumson for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Rumson:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Rumson.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Rumson can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Rumson, meanwhile, can field multiple offers from more qualified buyers.
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