Short Hills, NJ 07078 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Short Hills, NJ—07078

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$2,212,000

5.1% YoY Growth

Household Income

$250,000

0.0% YoY Growth

Days on Market

20.0% Shorter YoY

Home Price Forecast

2.0%

Median Rent

$3,260

14.2% YoY Growth

1-Bed Rent

$2,200

33.2% YoY Growth

2-Bed Rent

$3,200

39.6% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Short Hills, NJ

As of Dec '25, the median home price in Short Hills, NJ is $2,212,000, with a year-over-year change of 5.1%. This indicates that home prices in Short Hills, NJ are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$2,212,000	5.1%
Single Family	$2,220,000	5.3%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Short Hills, NJ

As of July '25, Rentcast reports the average rent in Short Hills, NJ is $4,880, with a year-over-year rent change of -14.2%. Per bedroom, the median rent as of July '25 in Short Hills, NJ is 1-bedrooms: $2,350, 2-bedrooms: $3,200, 4-bedrooms: $7,300. The most common rental property sizes in Short Hills, NJ are 3-bedroom and 2-bedroom, accounting for 34.6% and 29.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$3,260	$4,880
Studio Rent	N/A	N/A
1 Bed Rent	$2,200	$2,350
2 Bed Rent	$3,200	$3,200
3 Bed Rent	N/A	N/A
4 Bed Rent	$6,900	$7,300

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% of Rental Stock

1 Bedroom

23.6%

2 Bedrooms

29.1%

3 Bedrooms

34.6%

4 Bedrooms

2.1%

5+ Bedrooms

10.5%

Property Listings — Short Hills, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Short Hills, NJ is 48. This is a decrease of -28.0% 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	$4,010,000	7.0%
Listing Count	25	18.0%
Listings as % of Homes	0.4%	18.0%
Days on Market	79	-20.0%

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Demographics — Short Hills, NJ

As of the latest ACS Survey released in 2023, Short Hills, NJ has a population of 14,200, which has increased by 8.3% over the past 5 years. Short Hills, NJ is a popular place for families, as children make up 32.1% of the population. The area has a highly educated workforce, with 90.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 36.4% reporting working from home.

Metric	Latest Census	YoY % Change
Population	14,200	8.3%
% Under 18	32.1%	-4.5%
% Seniors	13.0%	2.4%
% WFH	36.4%	180.0%
% w/ College Degree	90.1%	0.9%

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As of the latest ACS Survey released in 2023, Short Hills, NJ is a predominantly white area, with 50.9% of the population identifying as white. The white population has shrunk by 26.0% in the last 5 years. The second most common race or ethnicity in Short Hills, NJ is asian, making up 38.5% of the population. Foreign-born residents account for 30.7% of the population in Short Hills, NJ, and this percentage has increased by 46.2% 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	50.9%	-26.0%
% Black	2.0%	566.7%
% Hispanic	4.1%	7.9%
% Asian	38.5%	63.8%
% Foreign Born	30.7%	46.2%

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Mortgage and Risk — Short Hills, NJ

According to HUD data as of 2023, there were 259 mortgage originations in Short Hills, NJ, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Short Hills, NJ. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	259
% Conventional Loans	99.0%
% Government Loans	1.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	6.0%

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Rentals and Section 8 — Short Hills, NJ

Short Hills, NJ lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	1
Total Units Section 8	1
% Rentals under Section 8	0.2%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$230	$2,200	$2,430
2 Bedroom	-$260	$3,200	$2,940
3 Bedroom	N/A	N/A	$3,700
4 Bedroom	-$2,690	$6,900	$4,210

Short Hills, NJ—07078

Key Metrics at a Glance

Home Price Trends — Short Hills, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Short Hills, NJ

% of Rental Stock

Property Listings — Short Hills, NJ

Demographics — Short Hills, NJ

Race and Ethnicity

Mortgage and Risk — Short Hills, NJ

Mortgages

Rentals and Section 8 — Short Hills, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Short Hills, NJ

Home Price to Income Ratio

Short Hills, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Millburn, NJ

Springfield, NJ

Livingston, NJ

Summit, NJ

Union, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	7.1
Median Home Price	$2,212,000
Median Household Income	$250,000

Short Hills, NJ—07078

Key Metrics at a Glance

Home Price Trends — Short Hills, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Short Hills, NJ

% of Rental Stock

Property Listings — Short Hills, NJ

Demographics — Short Hills, NJ

Race and Ethnicity

Mortgage and Risk — Short Hills, NJ

Mortgages

Rentals and Section 8 — Short Hills, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Short Hills, NJ

Home Price to Income Ratio

Short Hills, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Millburn, NJ

Springfield, NJ

Livingston, NJ

Summit, NJ

Union, NJ

Frequently Asked Questions

What is the average home price in Short Hills, NJ 07078?

How have home prices in Short Hills, NJ 07078 changed over the past year?

What is the home price projection for Short Hills, NJ 07078?

What are the demographics of Short Hills, NJ 07078?

How long does it take homes to sell in Short Hills, NJ 07078?

What is the average rent price in Short Hills, NJ 07078?