Allendale, NJ—07401
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Allendale, NJ
As of Oct '25, the median home price in Allendale, NJ is $1,041,000, with a year-over-year change of 3.7%. This indicates that home prices in Allendale, NJ are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,041,000 | 3.7% |
| Single Family | $1,090,000 | 3.4% |
| Condos | $669,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $698,000 | 5.6% |
3 Bed | $867,000 | 4.3% |
4 Bed | $1,209,000 | 5.9% |
| 5 Bed | $1,607,000 | 8.2% |
% of Housing Stock
Rental Trends — Allendale, NJ
As of July '25, Rentcast reports the average rent in Allendale, NJ is $4,740, with a year-over-year rent change of 0.2%. Per bedroom, the median rent as of July '25 in Allendale, NJ is 2-bedrooms: $3,890, 3-bedrooms: $4,040, 4-bedrooms: $5,770. The most common rental property sizes in Allendale, NJ are 2-bedroom and 1-bedroom, accounting for 40.6% and 19.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,200 | $4,740 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $3,750 | $3,890 |
| 3 Bed Rent | $4,000 | $4,040 |
| 4 Bed Rent | $4,900 | $5,770 |
% of Rental Stock
Property Listings — Allendale, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Allendale, NJ is 14. 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 | $891,000 | 0.0% |
Listing Count | 13 | 25.0% |
| Listings as % of Homes | 0.5% | 25.0% |
Days on Market | 14 | -28.0% |
Demographics — Allendale, NJ
As of the latest ACS Survey released in 2023, Allendale, NJ has a population of 6,820, which has remained stable by 0.9% over the past 5 years. Allendale, NJ is a popular place for families, as children make up 28.8% of the population. The area has a highly educated workforce, with 72.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 30.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,820 | 0.9% |
% Under 18 | 28.8% | -0.3% |
% Seniors | 18.1% | 35.1% |
% WFH | 30.9% | 354.4% |
% w/ College Degree | 72.0% | 1.0% |
As of the latest ACS Survey released in 2023, Allendale, NJ is a predominantly white area, with 74.3% of the population identifying as white. The white population has shrunk by 11.4% in the last 5 years. The second most common race or ethnicity in Allendale, NJ is asian, making up 17.0% of the population. Foreign-born residents account for 18.8% of the population in Allendale, NJ, and this percentage has increased by 91.8% 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 | 74.3% | -11.4% |
% Black | 0.9% | -25.0% |
% Hispanic | 2.4% | 26.3% |
% Asian | 17.0% | 60.4% |
% Foreign Born | 18.8% | 91.8% |
Mortgage and Risk — Allendale, NJ
According to HUD data as of 2023, there were 112 mortgage originations in Allendale, NJ, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Allendale, NJ. Investor activity is low, as 2.0% 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 | 112 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Allendale, NJ
Allendale, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 22 |
Total Units Section 8 | 22 |
% Rentals under Section 8 | 4.0% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,700 |
| 2 Bedroom | -$650 | $3,750 | $3,100 |
| 3 Bedroom | -$180 | $4,000 | $3,820 |
| 4 Bedroom | -$80 | $4,900 | $4,820 |
Affordability — Allendale, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.6 |
| Median Home Price | $1,041,000 |
| Median Household Income | $157,000 |