Wayne, NJ 07470 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Wayne, NJ—07470

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$752,000

5.7% YoY Growth

Household Income

$152,000

28.4% YoY Growth

Days on Market

20.0% Longer YoY

Home Price Forecast

1.0%

Median Rent

$2,400

3.8% YoY Growth

1-Bed Rent

$2,000

5.3% YoY Growth

2-Bed Rent

$2,600

4.1% YoY Growth

3-Bed Rent

$4,000

13.7% YoY Growth

Home Price Trends — Wayne, NJ

As of May '26, the median home price in Wayne, NJ is $752,000, with a year-over-year change of 5.7%. This indicates that home prices in Wayne, NJ are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$752,000	5.7%
Single Family	$782,000	6.0%
Condos	$446,000	3.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

4.4%

1 Bedroom

43.7%

2 Bedrooms

30.6%

3 Bedrooms

14.1%

4 Bedrooms

6.8%

5+ Bedrooms

0.4%

Property Listings — Wayne, NJ

As of May '26, Realtor.com reports that the median days on market for a home in Wayne, NJ is 19. This is a increase of 20.0% 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 6.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$744,000	10.0%
Listing Count	136	11.0%
Listings as % of Homes	0.4%	11.0%
Days on Market	19	20.0%

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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%

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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%

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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%

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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

Wayne, NJ—07470

Key Metrics at a Glance

Home Price Trends — Wayne, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wayne, NJ

% of Rental Stock

Property Listings — Wayne, NJ

Demographics — Wayne, NJ

Race and Ethnicity

Mortgage and Risk — Wayne, NJ

Mortgages

Rentals and Section 8 — Wayne, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Wayne, NJ

Home Price to Income Ratio

Wayne, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Pequannock, NJ

Totowa, NJ

Paterson, NJ

North Haledon, NJ

Lincoln Park, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4
Median Home Price	$752,000
Median Household Income	$152,000

Wayne, NJ—07470

Key Metrics at a Glance

Home Price Trends — Wayne, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Wayne, NJ

% of Rental Stock

Property Listings — Wayne, NJ

Demographics — Wayne, NJ

Race and Ethnicity

Mortgage and Risk — Wayne, NJ

Mortgages

Rentals and Section 8 — Wayne, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Wayne, NJ

Home Price to Income Ratio

Wayne, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Pequannock, NJ

Totowa, NJ

Paterson, NJ

North Haledon, NJ

Lincoln Park, NJ

Frequently Asked Questions

What is the average home price in Wayne, NJ 07470?

How have home prices in Wayne, NJ 07470 changed over the past year?

What is the home price projection for Wayne, NJ 07470?

What are the demographics of Wayne, NJ 07470?

How long does it take homes to sell in Wayne, NJ 07470?

What is the average rent price in Wayne, NJ 07470?