Wayne, NJ—07470
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wayne, NJ
As of Oct '25, the median home price in Wayne, NJ is $717,000, with a year-over-year change of 2.1%. This indicates that home prices in Wayne, 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 | $717,000 | 2.2% |
| Single Family | $744,000 | 2.1% |
| Condos | $426,000 | 5.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $316,000 | 4.6% |
2 Bed | $489,000 | 4.9% |
3 Bed | $677,000 | 3.8% |
4 Bed | $828,000 | 3.9% |
| 5 Bed | $1,006,000 | 4.5% |
% of Housing Stock
Rental Trends — Wayne, NJ
As of July '25, Rentcast reports the average rent in Wayne, NJ is $3,070, with a year-over-year rent change of -3.8%. Per bedroom, the median rent as of July '25 in Wayne, NJ is studios: $2,200, 1-bedrooms: $2,300, 2-bedrooms: $2,810, 3-bedrooms: $4,060, 4-bedrooms: $4,310. The most common rental property sizes in Wayne, NJ are 1-bedroom and 2-bedroom, accounting for 43.7% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $3,070 |
| Studio Rent | $2,000 | $2,200 |
| 1 Bed Rent | $2,000 | $2,300 |
| 2 Bed Rent | $2,600 | $2,810 |
| 3 Bed Rent | $4,000 | $4,060 |
| 4 Bed Rent | $3,950 | $4,310 |
% of Rental Stock
Property Listings — Wayne, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Wayne, NJ is 32. 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $699,000 | 5.0% |
Listing Count | 138 | 19.0% |
| Listings as % of Homes | 0.4% | 19.0% |
Days on Market | 32 | 0.0% |
Demographics — Wayne, NJ
As of the latest ACS Survey released in 2023, Wayne, NJ has a population of 54,100, which has remained stable by -0.1% over the past 5 years. Wayne, NJ is a moderately popular place for families, as children make up 21.6% of the population. The area has a highly educated workforce, with 56.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,100 | -0.1% |
% Under 18 | 21.6% | 6.9% |
% Seniors | 19.2% | 2.7% |
% WFH | 18.4% | 283.3% |
% w/ College Degree | 56.8% | 11.2% |
As of the latest ACS Survey released in 2023, Wayne, NJ is a predominantly white area, with 72.4% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in Wayne, NJ is hispanic, making up 12.5% of the population. Foreign-born residents account for 19.9% of the population in Wayne, NJ, and this percentage has increased by 0.5% 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 | 72.4% | -4.6% |
% Black | 2.9% | 52.6% |
% Hispanic | 12.5% | 0.8% |
% Asian | 8.9% | 0.0% |
% Foreign Born | 19.9% | 0.5% |
Mortgage and Risk — Wayne, NJ
According to HUD data as of 2023, there were 831 mortgage originations in Wayne, NJ, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Wayne, NJ. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 831 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Wayne, NJ
As of 2024, the percent of homes in Wayne, NJ under the Section 8 program is 12.1%. 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 Wayne, 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 | 484 |
Total Units Section 8 | 484 |
% Rentals under Section 8 | 12.1% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $2,000 | $2,010 |
| 2 Bedroom | -$300 | $2,600 | $2,300 |
| 3 Bedroom | -$1,170 | $4,000 | $2,830 |
| 4 Bedroom | -$370 | $3,950 | $3,580 |
Affordability — Wayne, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $717,000 |
| Median Household Income | $152,000 |