Closter, NJ 07624 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Closter, NJ—07624

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$1,101,000

5.9% YoY Growth

Household Income

$188,000

41.3% YoY Growth

Days on Market

7.0% Shorter YoY

Home Price Forecast

1.9%

Median Rent

$5,000

7.6% YoY Growth

1-Bed Rent

$3,000

24.0% YoY Growth

2-Bed Rent

$2,500

10.9% YoY Growth

3-Bed Rent

$4,500

4.6% YoY Growth

Home Price Trends — Closter, NJ

As of Dec '25, the median home price in Closter, NJ is $1,101,000, 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 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$1,101,000	5.9%
Single Family	$1,101,000	6.3%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

4.0%

1 Bedroom

15.4%

2 Bedrooms

26.6%

3 Bedrooms

20.3%

4 Bedrooms

32.1%

5+ Bedrooms

1.5%

Property Listings — Closter, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Closter, NJ is 64. This is a decrease of -4.0% 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	$1,900,000	8.0%
Listing Count	14	-13.0%
Listings as % of Homes	0.4%	-13.0%
Days on Market	47	-7.0%

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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%

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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%

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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%

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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

Closter, NJ—07624

Key Metrics at a Glance

Home Price Trends — Closter, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Closter, NJ

% of Rental Stock

Property Listings — Closter, NJ

Demographics — Closter, NJ

Race and Ethnicity

Mortgage and Risk — Closter, NJ

Mortgages

Rentals and Section 8 — Closter, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Closter, NJ

Home Price to Income Ratio

Closter, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Demarest, NJ

Norwood, NJ

Harrington Park, NJ

Cresskill, NJ

Northvale, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.7
Median Home Price	$1,101,000
Median Household Income	$188,000

Closter, NJ—07624

Key Metrics at a Glance

Home Price Trends — Closter, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Closter, NJ

% of Rental Stock

Property Listings — Closter, NJ

Demographics — Closter, NJ

Race and Ethnicity

Mortgage and Risk — Closter, NJ

Mortgages

Rentals and Section 8 — Closter, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Closter, NJ

Home Price to Income Ratio

Closter, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Demarest, NJ

Norwood, NJ

Harrington Park, NJ

Cresskill, NJ

Northvale, NJ

Frequently Asked Questions

What is the average home price in Closter, NJ 07624?

How have home prices in Closter, NJ 07624 changed over the past year?

What is the home price projection for Closter, NJ 07624?

What are the demographics of Closter, NJ 07624?

How long does it take homes to sell in Closter, NJ 07624?

What is the average rent price in Closter, NJ 07624?