Oak Ridge, NJ—07438
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Oak Ridge, NJ
As of Oct '25, the median home price in Oak Ridge, NJ is $522,000, with a year-over-year change of 3.1%. This indicates that home prices in Oak Ridge, NJ are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $522,000 | 3.1% |
| Single Family | $525,000 | 3.1% |
| Condos | $379,000 | 2.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $381,000 | 3.0% |
3 Bed | $513,000 | 4.9% |
4 Bed | $667,000 | 3.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Oak Ridge, NJ
As of July '25, Rentcast reports the average rent in Oak Ridge, NJ is $2,440, with a year-over-year rent change of 19.6%. Per bedroom, the median rent as of July '25 in Oak Ridge, NJ is 1-bedrooms: $1,400, 2-bedrooms: $2,620, 3-bedrooms: $3,000, 4-bedrooms: $3,400. The most common rental property sizes in Oak Ridge, NJ are 1-bedroom and 2-bedroom, accounting for 57.1% and 19.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,450 | $2,440 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,400 |
| 2 Bed Rent | $2,450 | $2,620 |
| 3 Bed Rent | $3,000 | $3,000 |
| 4 Bed Rent | $3,400 | $3,400 |
% of Rental Stock
Property Listings — Oak Ridge, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Oak Ridge, NJ is 30. This is a decrease of -16.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $525,000 | 14.0% |
Listing Count | 38 | 0.0% |
| Listings as % of Homes | 0.4% | 0.0% |
Days on Market | 30 | -16.0% |
Demographics — Oak Ridge, NJ
As of the latest ACS Survey released in 2023, Oak Ridge, NJ has a population of 11,000, which has decreased by -4.2% over the past 5 years. Oak Ridge, NJ is a moderately popular place for families, as children make up 20.3% of the population. The area has a moderately educated workforce, with 43.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,000 | -4.2% |
% Under 18 | 20.3% | -8.1% |
% Seniors | 16.7% | 2.5% |
% WFH | 9.6% | 45.5% |
% w/ College Degree | 43.4% | 1.6% |
As of the latest ACS Survey released in 2023, Oak Ridge, NJ is a predominantly white area, with 80.9% of the population identifying as white. The white population has shrunk by 8.2% in the last 5 years. The second most common race or ethnicity in Oak Ridge, NJ is hispanic, making up 10.5% of the population. Foreign-born residents account for 8.3% of the population in Oak Ridge, NJ, and this percentage has increased by 33.9% 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 | 80.9% | -8.2% |
% Black | 2.6% | 160.0% |
% Hispanic | 10.5% | 43.8% |
% Asian | 1.6% | 33.3% |
% Foreign Born | 8.3% | 33.9% |
Mortgage and Risk — Oak Ridge, NJ
According to HUD data as of 2023, there were 178 mortgage originations in Oak Ridge, NJ, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Oak Ridge, NJ. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 178 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Oak Ridge, NJ
As of 2024, the percent of homes in Oak Ridge, NJ under the Section 8 program is 2.3%. 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 units appear to be good home sizes to consider for Section 8 housing in Oak Ridge, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 61 |
Total Units Section 8 | 12 |
% Rentals under Section 8 | 2.3% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $660 | $1,300 | $1,960 |
| 2 Bedroom | -$100 | $2,450 | $2,350 |
| 3 Bedroom | -$40 | $3,000 | $2,960 |
| 4 Bedroom | $0 | $3,400 | $3,400 |
Affordability — Oak Ridge, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $522,000 |
| Median Household Income | $120,000 |