Vernon, NJ—07462
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Vernon, NJ
As of Oct '25, the median home price in Vernon, NJ is $310,000, with a year-over-year change of 3.6%. This indicates that home prices in Vernon, 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 | $310,000 | 3.7% |
| Single Family | $363,000 | 2.5% |
| Condos | $239,000 | 6.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $181,000 | 2.3% |
2 Bed | $255,000 | 3.2% |
3 Bed | $373,000 | 3.3% |
4 Bed | $536,000 | 4.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Vernon, NJ
As of July '25, Rentcast reports the average rent in Vernon, NJ is $2,300, with a year-over-year rent change of 2.7%. Per bedroom, the median rent as of July '25 in Vernon, NJ is 1-bedrooms: $1,810, 2-bedrooms: $2,320, 3-bedrooms: $2,610, 4-bedrooms: $3,500. The most common rental property sizes in Vernon, NJ are 1-bedroom and 2-bedroom, accounting for 35.8% and 34.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,750 | $1,810 |
| 2 Bed Rent | $2,400 | $2,320 |
| 3 Bed Rent | $2,550 | $2,610 |
| 4 Bed Rent | $3,500 | $3,500 |
% of Rental Stock
Property Listings — Vernon, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Vernon, NJ is 70. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $269,000 | 7.0% |
Listing Count | 97 | 21.0% |
| Listings as % of Homes | 1.6% | 21.0% |
Days on Market | 70 | 28.0% |
Demographics — Vernon, NJ
As of the latest ACS Survey released in 2023, Vernon, NJ has a population of 6,890, which has increased by 10.3% over the past 5 years. Vernon, NJ is a less popular place for families, as children make up 12.5% of the population. The area has a moderately educated workforce, with 29.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,890 | 10.3% |
% Under 18 | 12.5% | -36.9% |
% Seniors | 19.8% | 66.4% |
% WFH | 14.4% | 97.3% |
% w/ College Degree | 29.4% | 6.5% |
As of the latest ACS Survey released in 2023, Vernon, NJ is a predominantly white area, with 82.2% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Vernon, NJ is hispanic, making up 13.9% of the population. Foreign-born residents account for 9.3% of the population in Vernon, NJ, and this percentage has decreased by 7.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.2% | -3.3% |
% Black | 0.9% | -76.3% |
% Hispanic | 13.9% | 43.3% |
% Asian | 1.1% | ∞% |
% Foreign Born | 9.3% | -7.0% |
Mortgage and Risk — Vernon, NJ
According to HUD data as of 2023, there were 219 mortgage originations in Vernon, NJ, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Vernon, NJ. Investor activity is low, as 5.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 219 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 5.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Vernon, NJ
As of 2024, the percent of homes in Vernon, NJ under the Section 8 program is 2.8%. 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. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Vernon, NJ, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 11 |
Total Units Section 8 | 11 |
% Rentals under Section 8 | 2.8% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,750 | $1,740 |
| 2 Bedroom | -$300 | $2,400 | $2,100 |
| 3 Bedroom | $90 | $2,550 | $2,640 |
| 4 Bedroom | -$490 | $3,500 | $3,010 |
Affordability — Vernon, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.4 |
| Median Home Price | $310,000 |
| Median Household Income | $99,100 |