Garwood, NJ—07027
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Garwood, NJ
As of Oct '25, the median home price in Garwood, NJ is $667,000, with a year-over-year change of 4.4%. This indicates that home prices in Garwood, NJ are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $667,000 | 4.4% |
| Single Family | $664,000 | 3.6% |
| 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 | $660,000 | 3.6% |
4 Bed | $725,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Garwood, NJ
As of July '25, Rentcast reports the average rent in Garwood, NJ is $2,660, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in Garwood, NJ is studios: $1,650, 1-bedrooms: $1,970, 2-bedrooms: $2,440, 3-bedrooms: $3,470, 4-bedrooms: $4,200. The most common rental property sizes in Garwood, NJ are 2-bedroom and 1-bedroom, accounting for 41.2% and 34.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,660 |
| Studio Rent | $1,650 | $1,650 |
| 1 Bed Rent | $1,880 | $1,970 |
| 2 Bed Rent | $2,300 | $2,440 |
| 3 Bed Rent | $3,350 | $3,470 |
| 4 Bed Rent | $4,200 | $4,200 |
% of Rental Stock
Property Listings — Garwood, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Garwood, NJ is 32. This is a decrease of -26.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $680,000 | -21.0% |
Listing Count | 11 | -19.0% |
| Listings as % of Homes | 0.2% | -19.0% |
Days on Market | 32 | -26.0% |
Demographics — Garwood, NJ
As of the latest ACS Survey released in 2023, Garwood, NJ has a population of 4,690, which has increased by 8.2% over the past 5 years. Garwood, NJ is a moderately popular place for families, as children make up 16.9% of the population. The area has a moderately educated workforce, with 43.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,690 | 8.2% |
% Under 18 | 16.9% | -14.2% |
% Seniors | 22.6% | 61.4% |
% WFH | 14.5% | 291.9% |
% w/ College Degree | 43.8% | 6.8% |
As of the latest ACS Survey released in 2023, Garwood, NJ is a predominantly white area, with 69.5% of the population identifying as white. The white population has shrunk by 14.0% in the last 5 years. The second most common race or ethnicity in Garwood, NJ is hispanic, making up 21.1% of the population. Foreign-born residents account for 17.6% of the population in Garwood, NJ, and this percentage has increased by 20.5% 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 | 69.5% | -14.0% |
% Black | 0.0% | -100.0% |
% Hispanic | 21.1% | 38.8% |
% Asian | 3.3% | 94.1% |
% Foreign Born | 17.6% | 20.5% |
Mortgage and Risk — Garwood, NJ
According to HUD data as of 2023, there were 51 mortgage originations in Garwood, NJ, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Garwood, NJ. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 51 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Garwood, NJ
As of 2024, the percent of homes in Garwood, NJ under the Section 8 program is 0.9%. 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 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Garwood, NJ, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 77 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,880 | $1,930 |
| 2 Bedroom | $30 | $2,300 | $2,330 |
| 3 Bedroom | -$420 | $3,350 | $2,930 |
| 4 Bedroom | -$860 | $4,200 | $3,340 |
Affordability — Garwood, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $667,000 |
| Median Household Income | $101,000 |