Park Ridge, NJ—07656
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Park Ridge, NJ
As of Oct '25, the median home price in Park Ridge, NJ is $815,000, with a year-over-year change of 2.3%. This indicates that home prices in Park Ridge, 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 | $815,000 | 2.3% |
| Single Family | $827,000 | 2.1% |
| Condos | $474,000 | 1.7% |
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 | $791,000 | 4.2% |
4 Bed | $945,000 | 4.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Park Ridge, NJ
As of July '25, Rentcast reports the average rent in Park Ridge, NJ is $2,920, with a year-over-year rent change of 3.9%. Per bedroom, the median rent as of July '25 in Park Ridge, NJ is studios: $2,490, 1-bedrooms: $2,240, 2-bedrooms: $2,890, 3-bedrooms: $3,950, 4-bedrooms: $4,200. The most common rental property sizes in Park Ridge, NJ are 2-bedroom and 1-bedroom, accounting for 32.9% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,700 | $2,920 |
| Studio Rent | $2,490 | $2,490 |
| 1 Bed Rent | $2,150 | $2,240 |
| 2 Bed Rent | $2,980 | $2,890 |
| 3 Bed Rent | $3,950 | $3,950 |
| 4 Bed Rent | $4,200 | $4,200 |
% of Rental Stock
Property Listings — Park Ridge, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Park Ridge, NJ is 22. This is a decrease of -30.0% 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 | $737,000 | -22.0% |
Listing Count | 10 | 6.0% |
| Listings as % of Homes | 0.2% | 6.0% |
Days on Market | 22 | -30.0% |
Demographics — Park Ridge, NJ
As of the latest ACS Survey released in 2023, Park Ridge, NJ has a population of 9,220, which has increased by 4.7% over the past 5 years. Park Ridge, NJ is a moderately popular place for families, as children make up 18.8% 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 21.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,220 | 4.7% |
% Under 18 | 18.8% | -15.7% |
% Seniors | 20.7% | 1.0% |
% WFH | 21.8% | 194.6% |
% w/ College Degree | 56.8% | -2.6% |
As of the latest ACS Survey released in 2023, Park Ridge, NJ is a predominantly white area, with 80.0% of the population identifying as white. The white population has grown by 2.0% in the last 5 years. The second most common race or ethnicity in Park Ridge, NJ is hispanic, making up 14.3% of the population. Foreign-born residents account for 12.0% of the population in Park Ridge, NJ, and this percentage has decreased by 5.5% 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 | 80.0% | 2.0% |
% Black | 1.8% | 63.6% |
% Hispanic | 14.3% | -7.1% |
% Asian | 2.2% | -45.0% |
% Foreign Born | 12.0% | -5.5% |
Mortgage and Risk — Park Ridge, NJ
According to HUD data as of 2023, there were 137 mortgage originations in Park Ridge, NJ, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Park Ridge, NJ. Investor activity is low, as 1.0% 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 | 137 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Park Ridge, NJ
As of 2024, the percent of homes in Park Ridge, NJ under the Section 8 program is 8.0%. 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. In Park Ridge, NJ, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 45 |
Total Units Section 8 | 45 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $2,150 | $2,000 |
| 2 Bedroom | -$690 | $2,980 | $2,290 |
| 3 Bedroom | -$1,130 | $3,950 | $2,820 |
| 4 Bedroom | -$640 | $4,200 | $3,560 |
Affordability — Park Ridge, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $815,000 |
| Median Household Income | $165,000 |