Closter, NJ—07624
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Closter, NJ
As of Oct '25, the median home price in Closter, NJ is $1,116,000, with a year-over-year change of 5.9%. This indicates that home prices in Closter, NJ are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,116,000 | 6.0% |
| Single Family | $1,118,000 | 5.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $869,000 | 6.8% |
4 Bed | $1,206,000 | 7.4% |
| 5 Bed | $1,782,000 | 7.9% |
% of Housing Stock
Rental Trends — Closter, NJ
As of July '25, Rentcast reports the average rent in Closter, NJ is $4,950, with a year-over-year rent change of 7.6%. Per bedroom, the median rent as of July '25 in Closter, NJ is 1-bedrooms: $2,480, 2-bedrooms: $2,700, 3-bedrooms: $4,750, 4-bedrooms: $6,420. The most common rental property sizes in Closter, NJ are 4-bedroom and 2-bedroom, accounting for 32.1% and 26.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,000 | $4,950 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $3,000 | $2,480 |
| 2 Bed Rent | $2,500 | $2,700 |
| 3 Bed Rent | $4,500 | $4,750 |
| 4 Bed Rent | $6,200 | $6,420 |
% of Rental Stock
Property Listings — Closter, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Closter, NJ is 55. This is a decrease of -9.0% 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 | $1,630,000 | -5.0% |
Listing Count | 19 | 2.0% |
| Listings as % of Homes | 0.4% | 2.0% |
Days on Market | 55 | -9.0% |
Demographics — Closter, NJ
As of the latest ACS Survey released in 2023, Closter, NJ has a population of 8,540, which has remained stable by -0.4% over the past 5 years. Closter, NJ is a popular place for families, as children make up 28.6% of the population. The area has a highly educated workforce, with 66.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,540 | -0.4% |
% Under 18 | 28.6% | 19.2% |
% Seniors | 14.2% | -7.8% |
% WFH | 21.2% | 360.9% |
% w/ College Degree | 66.2% | 5.2% |
As of the latest ACS Survey released in 2023, Closter, NJ is a predominantly white area, with 47.8% of the population identifying as white. The white population has shrunk by 12.9% in the last 5 years. The second most common race or ethnicity in Closter, NJ is asian, making up 32.2% of the population. Foreign-born residents account for 33.4% of the population in Closter, NJ, and this percentage has decreased by 10.0% 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 | 47.8% | -12.9% |
% Black | 2.8% | 75.0% |
% Hispanic | 9.9% | 147.5% |
% Asian | 32.2% | -16.1% |
% Foreign Born | 33.4% | -10.0% |
Mortgage and Risk — Closter, NJ
According to HUD data as of 2023, there were 118 mortgage originations in Closter, NJ, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Closter, NJ. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 118 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Closter, NJ
As of 2024, the percent of homes in Closter, NJ under the Section 8 program is 3.2%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Closter, NJ, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 34 |
Total Units Section 8 | 15 |
% Rentals under Section 8 | 3.2% |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$380 | $3,000 | $2,620 |
| 2 Bedroom | $500 | $2,500 | $3,000 |
| 3 Bedroom | -$810 | $4,500 | $3,690 |
| 4 Bedroom | -$1,530 | $6,200 | $4,670 |
Affordability — Closter, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $1,116,000 |
| Median Household Income | $188,000 |