Fort Lee, NJ 07024 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Fort Lee, NJ—07024

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$597,000

5.7% YoY Growth

Household Income

$106,000

35.1% YoY Growth

Days on Market

36.0% Longer YoY

Home Price Forecast

1.1%

Median Rent

$2,950

0.3% YoY Growth

1-Bed Rent

$2,650

6.7% YoY Growth

2-Bed Rent

$3,300

3.3% YoY Growth

3-Bed Rent

$4,250

4.2% YoY Growth

Home Price Trends — Fort Lee, NJ

As of May '26, the median home price in Fort Lee, NJ is $597,000, with a year-over-year change of 5.7%. This indicates that home prices in Fort Lee, 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	$597,000	5.7%
Single Family	$1,023,000	7.0%
Condos	$411,000	2.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Fort Lee, NJ

As of July '25, Rentcast reports the average rent in Fort Lee, NJ is $3,300, with a year-over-year rent change of -0.3%. Per bedroom, the median rent as of July '25 in Fort Lee, NJ is studios: $2,030, 1-bedrooms: $2,540, 2-bedrooms: $3,460, 3-bedrooms: $4,510, 4-bedrooms: $6,010. The most common rental property sizes in Fort Lee, NJ are 1-bedroom and 2-bedroom, accounting for 40.6% and 28.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,950	$3,300
Studio Rent	$1,950	$2,030
1 Bed Rent	$2,650	$2,540
2 Bed Rent	$3,300	$3,460
3 Bed Rent	$4,250	$4,510
4 Bed Rent	$6,200	$6,010

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% of Rental Stock

Studio

12.5%

1 Bedroom

40.6%

2 Bedrooms

28.9%

3 Bedrooms

14.8%

4 Bedrooms

2.6%

5+ Bedrooms

0.6%

Property Listings — Fort Lee, NJ

As of May '26, Realtor.com reports that the median days on market for a home in Fort Lee, NJ is 44. This is a increase of 36.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$362,000	-25.0%
Listing Count	196	38.0%
Listings as % of Homes	0.8%	38.0%
Days on Market	44	36.0%

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Demographics — Fort Lee, NJ

As of the latest ACS Survey released in 2023, Fort Lee, NJ has a population of 39,800, which has increased by 7.5% over the past 5 years. Fort Lee, NJ is a moderately popular place for families, as children make up 17.4% of the population. The area has a highly educated workforce, with 64.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	39,800	7.5%
% Under 18	17.4%	4.8%
% Seniors	25.2%	2.0%
% WFH	19.6%	201.5%
% w/ College Degree	64.8%	10.0%

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As of the latest ACS Survey released in 2023, Fort Lee, NJ is a predominantly asian area, with 44.1% of the population identifying as asian. The asian population has grown by 3.8% in the last 5 years. The second most common race or ethnicity in Fort Lee, NJ is white, making up 38.0% of the population. Foreign-born residents account for 50.4% of the population in Fort Lee, NJ, and this percentage has decreased by 1.9% 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	38.0%	-4.3%
% Black	2.7%	8.0%
% Hispanic	12.3%	-14.0%
% Asian	44.1%	3.8%
% Foreign Born	50.4%	-1.9%

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Mortgage and Risk — Fort Lee, NJ

According to HUD data as of 2023, there were 340 mortgage originations in Fort Lee, NJ, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Fort Lee, NJ. Investor activity is low, as 5.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	340
% Conventional Loans	98.0%
% Government Loans	2.0%
% Investor Loans	5.0%
% Second Loans	2.0%
% Cash Out Refinance	3.0%

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Rentals and Section 8 — Fort Lee, NJ

As of 2024, the percent of homes in Fort Lee, NJ under the Section 8 program is 12.2%. 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. In Fort Lee, NJ, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD	959
Total Units Section 8	959
% Rentals under Section 8	12.2%
% Occupied Section 8	99.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$190	$2,650	$2,460
2 Bedroom	-$480	$3,300	$2,820
3 Bedroom	-$780	$4,250	$3,470
4 Bedroom	-$1,810	$6,200	$4,390

Fort Lee, NJ—07024

Key Metrics at a Glance

Home Price Trends — Fort Lee, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Fort Lee, NJ

% of Rental Stock

Property Listings — Fort Lee, NJ

Demographics — Fort Lee, NJ

Race and Ethnicity

Mortgage and Risk — Fort Lee, NJ

Mortgages

Rentals and Section 8 — Fort Lee, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Fort Lee, NJ

Home Price to Income Ratio

Fort Lee, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Leonia, NJ

Palisades Park, NJ

Edgewater, NJ

Washington Heights, New York, NY

Cliffside Park, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.7
Median Home Price	$597,000
Median Household Income	$106,000

Fort Lee, NJ—07024

Key Metrics at a Glance

Home Price Trends — Fort Lee, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Fort Lee, NJ

% of Rental Stock

Property Listings — Fort Lee, NJ

Demographics — Fort Lee, NJ

Race and Ethnicity

Mortgage and Risk — Fort Lee, NJ

Mortgages

Rentals and Section 8 — Fort Lee, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Fort Lee, NJ

Home Price to Income Ratio

Fort Lee, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Leonia, NJ

Palisades Park, NJ

Edgewater, NJ

Washington Heights, New York, NY

Cliffside Park, NJ

Frequently Asked Questions

What is the average home price in Fort Lee, NJ 07024?

How have home prices in Fort Lee, NJ 07024 changed over the past year?

What is the home price projection for Fort Lee, NJ 07024?

What are the demographics of Fort Lee, NJ 07024?

How long does it take homes to sell in Fort Lee, NJ 07024?

What is the average rent price in Fort Lee, NJ 07024?