Home Values

Boonton Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$390,400

  • 5.0% 1-year change
  • 1.5% 1-year forecast

The median home value in Boonton is $390,400. Boonton home values have gone up 5.0% over the past year and Zillow predicts they will rise 1.5% within the next year. The median list price per square foot in Boonton is $216, which is lower than the New York Metro average of $251. The median price of homes currently listed in Boonton is $499,000 while the median price of homes that sold is $333,500.

Foreclosures will be a factor impacting home values in the next several years. In Boonton 1.5 homes are foreclosed (per 10,000). This is the same as the New York Metro value of 1.5 and also lower than the national value of 4.5

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Boonton is 13.5%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Boonton homeowners underwater on their mortgage is 10.6%, which is lower than New York Metro at 14.7%.

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Relative ZHVI
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Boonton Market Overview

Data through Oct 31, 2014
  • $390,400 ZHVI
  • 1.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Oct 31, 2015)
  • $499,000 Median listing price
  • $333,500 Median sale price (Aug 31, 2014)
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Boonton Market Health

Data through Oct 31, 2014
  • 3.9/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 10.6% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 13.5% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

1.5 homes(Apr 30, 2013) Boonton
1.5 homes New York Metro
4.5 homes United States
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Nearby Cities

Name Median ZHVI
Mountain Lakes $660,500
Montville $554,300
Kinnelon $536,800
Name Median ZHVI
Morris Plains $487,200
Hanover $451,400
Parsippany-Troy Hills Township $392,400
Name Median ZHVI
Denville $382,300
Butler $324,700
Rockaway Township $313,400

Listings & Sales

Data through Oct 31, 2014
  • $216 Median list price / sq ft
  • $194 Median sale price / sq ft (Aug 31, 2014)
  • 45.4% Listings with price cut
34.1%
Sold below listing
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Boonton Rentals

Data through Oct 31, 2014
  • Zillow Rent Index

  • $2,363 Boonton
    $2,343 New York Metro
    $1,337 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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