Stafford Township Home Values Plunged Over Past Five Years

If you own a home in Stafford Township, your house isn't worth what it was five years ago, according to a report that examined U.S. Census data.

NJ Spotlight looked at Census data for New Jersey and found that home values remain significantly lower than they were five years ago for nearly every town in the state. The median decline was about 11 percent.

But in Stafford, things are much worse. The decline in home values is 19.04 percent, according to the 2015 American Community Survey data released recently. The ACS survey is conducted by the Census Bureau halfway between each census.

The American Community Survey is conducted by the Census Bureau halfway between each census.

Stafford has 13,697 properties with a median average of $269,500. There are no properties in the million dollar range, according to the study.

The majority of Southern Ocean County towns were devastated by Superstorm Sandy. Some people did not receive enough insurance or grant money to rebuild. Some have not been able to return. Others just abandoned the properties.

Sandy damage put a large dent in the ratables for each town and most are not back to what they were before the storm.

NJ Spotlight noted that 13 communities had a median home value of more than $1 million, with two of those — Alpine and Mantoloking — valued at more than $2 million. The lowest home value was in Camden, whose $84,600 estimate was below the $90,000 valuation in Winfield, the municipality with the second-lowest median value.

Image: Patch file photo.