Carteret, NJ 07008 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Carteret, NJ—07008

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$532,000

3.0% YoY Growth

Household Income

$87,700

17.5% YoY Growth

Days on Market

19.0% Longer YoY

Home Price Forecast

1.8%

Median Rent

$2,350

9.4% YoY Growth

1-Bed Rent

$2,000

7.0% YoY Growth

2-Bed Rent

$2,300

14.1% YoY Growth

3-Bed Rent

$2,600

6.0% YoY Growth

Home Price Trends — Carteret, NJ

As of Dec '25, the median home price in Carteret, NJ is $532,000, with a year-over-year change of 3.0%. This indicates that home prices in Carteret, NJ are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$532,000	3.0%
Single Family	$534,000	2.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Carteret, NJ

As of July '25, Rentcast reports the average rent in Carteret, NJ is $2,520, with a year-over-year rent change of -9.4%. Per bedroom, the median rent as of July '25 in Carteret, NJ is studios: $1,900, 1-bedrooms: $2,120, 2-bedrooms: $2,200, 3-bedrooms: $2,650, 4-bedrooms: $3,310. The most common rental property sizes in Carteret, NJ are 2-bedroom and 1-bedroom, accounting for 40.3% and 22.7% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,350	$2,520
Studio Rent	$1,900	$1,900
1 Bed Rent	$2,000	$2,120
2 Bed Rent	$2,300	$2,200
3 Bed Rent	$2,600	$2,650
4 Bed Rent	$3,400	$3,310

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% of Rental Stock

Studio

2.4%

1 Bedroom

22.7%

2 Bedrooms

40.3%

3 Bedrooms

22.6%

4 Bedrooms

11.5%

5+ Bedrooms

0.5%

Property Listings — Carteret, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Carteret, NJ is 46. This is a increase of 14.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$518,000	-8.0%
Listing Count	41	-4.0%
Listings as % of Homes	0.6%	-4.0%
Days on Market	53	19.0%

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Demographics — Carteret, NJ

As of the latest ACS Survey released in 2023, Carteret, NJ has a population of 25,200, which has increased by 6.5% over the past 5 years. Carteret, NJ is a moderately popular place for families, as children make up 22.2% of the population. The area has a moderately educated workforce, with 27.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.2% reporting working from home.

Metric	Latest Census	YoY % Change
Population	25,200	6.5%
% Under 18	22.2%	-5.1%
% Seniors	15.1%	26.9%
% WFH	9.2%	557.1%
% w/ College Degree	27.7%	13.1%

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As of the latest ACS Survey released in 2023, Carteret, NJ is a predominantly hispanic area, with 34.0% of the population identifying as hispanic. The hispanic population has shrunk by 4.0% in the last 5 years. The second most common race or ethnicity in Carteret, NJ is asian, making up 24.4% of the population. Foreign-born residents account for 34.7% of the population in Carteret, NJ, and this percentage has increased by 8.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	22.4%	-18.5%
% Black	17.3%	4.2%
% Hispanic	34.0%	-4.0%
% Asian	24.4%	16.2%
% Foreign Born	34.7%	8.4%

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Mortgage and Risk — Carteret, NJ

According to HUD data as of 2023, there were 245 mortgage originations in Carteret, NJ, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 81.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Carteret, NJ. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	245
% Conventional Loans	80.0%
% Government Loans	20.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	12.0%

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Rentals and Section 8 — Carteret, NJ

As of 2024, the percent of homes in Carteret, NJ under the Section 8 program is 23.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Carteret, NJ, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	914
Total Units Section 8	864
% Rentals under Section 8	23.1%
% Occupied Section 8	85.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$170	$2,000	$1,830
2 Bedroom	$0	$2,300	$2,300
3 Bedroom	$170	$2,600	$2,770
4 Bedroom	-$350	$3,400	$3,050

Carteret, NJ—07008

Key Metrics at a Glance

Home Price Trends — Carteret, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Carteret, NJ

% of Rental Stock

Property Listings — Carteret, NJ

Demographics — Carteret, NJ

Race and Ethnicity

Mortgage and Risk — Carteret, NJ

Mortgages

Rentals and Section 8 — Carteret, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Carteret, NJ

Home Price to Income Ratio

Carteret, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Port Reading, NJ

Sewaren, NJ

Avenel, NJ

Linden, NJ

Charleston, New York, NY

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5
Median Home Price	$532,000
Median Household Income	$87,700

Carteret, NJ—07008

Key Metrics at a Glance

Home Price Trends — Carteret, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Carteret, NJ

% of Rental Stock

Property Listings — Carteret, NJ

Demographics — Carteret, NJ

Race and Ethnicity

Mortgage and Risk — Carteret, NJ

Mortgages

Rentals and Section 8 — Carteret, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Carteret, NJ

Home Price to Income Ratio

Carteret, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Port Reading, NJ

Sewaren, NJ

Avenel, NJ

Linden, NJ

Charleston, New York, NY

Frequently Asked Questions

What is the average home price in Carteret, NJ 07008?

How have home prices in Carteret, NJ 07008 changed over the past year?

What is the home price projection for Carteret, NJ 07008?

What are the demographics of Carteret, NJ 07008?

How long does it take homes to sell in Carteret, NJ 07008?

What is the average rent price in Carteret, NJ 07008?