Fairfield, NJ—07004
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fairfield, NJ
As of Oct '25, the median home price in Fairfield, NJ is $779,000, with a year-over-year change of 1.1%. This indicates that home prices in Fairfield, NJ are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $779,000 | 1.1% |
| Single Family | $800,000 | 1.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $719,000 | 2.4% |
4 Bed | $871,000 | 3.4% |
| 5 Bed | $1,049,000 | 3.6% |
% of Housing Stock
Rental Trends — Fairfield, NJ
As of July '25, Rentcast reports the average rent in Fairfield, NJ is $2,900, with a year-over-year rent change of -16.7%. Per bedroom, the median rent as of July '25 in Fairfield, NJ is studios: $2,000, 1-bedrooms: $2,500, 2-bedrooms: $3,080, 3-bedrooms: $3,500, 4-bedrooms: $4,000. The most common rental property sizes in Fairfield, NJ are 2-bedroom and 1-bedroom, accounting for 53.9% and 34.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,950 | $2,900 |
| Studio Rent | $2,000 | $2,000 |
| 1 Bed Rent | $2,400 | $2,500 |
| 2 Bed Rent | $3,300 | $3,080 |
| 3 Bed Rent | $3,500 | $3,500 |
| 4 Bed Rent | $3,800 | $4,000 |
% of Rental Stock
Property Listings — Fairfield, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Fairfield, NJ is 59. This is a increase of 37.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $691,000 | 4.0% |
Listing Count | 11 | 59.0% |
| Listings as % of Homes | 0.3% | 59.0% |
Days on Market | 59 | 37.0% |
Demographics — Fairfield, NJ
As of the latest ACS Survey released in 2023, Fairfield, NJ has a population of 7,710, which has increased by 5.2% over the past 5 years. Fairfield, NJ is a moderately popular place for families, as children make up 20.7% of the population. The area has a highly educated workforce, with 51.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,710 | 5.2% |
% Under 18 | 20.7% | -1.4% |
% Seniors | 31.1% | 38.8% |
% WFH | 12.3% | 17.1% |
% w/ College Degree | 51.5% | 11.0% |
As of the latest ACS Survey released in 2023, Fairfield, NJ is a predominantly white area, with 84.6% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Fairfield, NJ is hispanic, making up 10.1% of the population. Foreign-born residents account for 13.3% of the population in Fairfield, NJ, and this percentage has decreased by 7.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.6% | -2.2% |
% Black | 1.2% | ∞% |
% Hispanic | 10.1% | 24.7% |
% Asian | 2.7% | -37.2% |
% Foreign Born | 13.3% | -7.0% |
Mortgage and Risk — Fairfield, NJ
According to HUD data as of 2023, there were 128 mortgage originations in Fairfield, NJ, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Fairfield, NJ. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 128 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Fairfield, NJ
As of 2024, the percent of homes in Fairfield, NJ under the Section 8 program is 0.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Fairfield, NJ, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 0.6% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $2,400 | $2,650 |
| 2 Bedroom | -$90 | $3,300 | $3,210 |
| 3 Bedroom | $540 | $3,500 | $4,040 |
| 4 Bedroom | $800 | $3,800 | $4,600 |
Affordability — Fairfield, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.9 |
| Median Home Price | $779,000 |
| Median Household Income | $114,000 |