Plainfield, NJ—07062
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Plainfield, NJ
As of Oct '25, the median home price in Plainfield, NJ is $497,000, with a year-over-year change of 6.8%. This indicates that home prices in Plainfield, NJ are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $497,000 | 6.8% |
| Single Family | $502,000 | 5.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $404,000 | 6.3% |
3 Bed | $491,000 | 5.1% |
4 Bed | $543,000 | 4.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Plainfield, NJ
As of July '25, Rentcast reports the average rent in Plainfield, NJ is $2,350, with a year-over-year rent change of -7.1%. Per bedroom, the median rent as of July '25 in Plainfield, NJ is studios: $1,950, 1-bedrooms: $2,070, 2-bedrooms: $2,480, 3-bedrooms: $2,780, 4-bedrooms: $2,900. The most common rental property sizes in Plainfield, NJ are 2-bedroom and 1-bedroom, accounting for 42.1% and 27.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,350 |
| Studio Rent | $1,950 | $1,950 |
| 1 Bed Rent | $2,150 | $2,070 |
| 2 Bed Rent | $2,690 | $2,480 |
| 3 Bed Rent | $2,700 | $2,780 |
| 4 Bed Rent | $2,900 | $2,900 |
% of Rental Stock
Property Listings — Plainfield, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Plainfield, NJ is 43. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $454,000 | -3.0% |
Listing Count | 31 | -20.0% |
| Listings as % of Homes | 0.6% | -20.0% |
Days on Market | 43 | 0.0% |
Demographics — Plainfield, NJ
As of the latest ACS Survey released in 2023, Plainfield, NJ has a population of 15,000, which has increased by 19.0% over the past 5 years. Plainfield, NJ is a popular place for families, as children make up 27.0% of the population. The area has a moderately educated workforce, with 30.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,000 | 19.0% |
% Under 18 | 27.0% | 5.1% |
% Seniors | 11.6% | -9.4% |
% WFH | 9.8% | 880.0% |
% w/ College Degree | 30.8% | 36.9% |
As of the latest ACS Survey released in 2023, Plainfield, NJ is a predominantly black area, with 45.5% of the population identifying as black. The black population has shrunk by 15.3% in the last 5 years. The second most common race or ethnicity in Plainfield, NJ is hispanic, making up 39.8% of the population. Foreign-born residents account for 34.1% of the population in Plainfield, NJ, and this percentage has increased by 27.7% 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 | 12.1% | -8.3% |
% Black | 45.5% | -15.3% |
% Hispanic | 39.8% | 33.1% |
% Asian | 0.9% | -10.0% |
% Foreign Born | 34.1% | 27.7% |
Mortgage and Risk — Plainfield, NJ
According to HUD data as of 2023, there were 163 mortgage originations in Plainfield, NJ, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Plainfield, NJ. Investor activity is low, as 3.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 163 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 17.0% |
Loan Activity
Rentals and Section 8 — Plainfield, NJ
As of 2024, the percent of homes in Plainfield, NJ under the Section 8 program is 15.4%. 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 and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Plainfield, NJ, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 266 |
Total Units Section 8 | 266 |
% Rentals under Section 8 | 15.4% |
% Occupied Section 8 | 90.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$360 | $2,150 | $1,790 |
| 2 Bedroom | -$520 | $2,690 | $2,170 |
| 3 Bedroom | $20 | $2,700 | $2,720 |
| 4 Bedroom | $190 | $2,900 | $3,090 |
Affordability — Plainfield, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $497,000 |
| Median Household Income | $92,700 |