Red Bank, NJ 07701 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Red Bank, NJ—07701

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$721,000

6.7% YoY Growth

Household Income

$114,000

37.8% YoY Growth

Days on Market

15.0% Shorter YoY

Home Price Forecast

1.9%

Median Rent

$3,000

5.1% YoY Growth

1-Bed Rent

$2,550

10.9% YoY Growth

2-Bed Rent

$3,000

5.5% YoY Growth

3-Bed Rent

$4,390

9.6% YoY Growth

Home Price Trends — Red Bank, NJ

As of May '26, the median home price in Red Bank, NJ is $721,000, with a year-over-year change of 6.7%. This indicates that home prices in Red Bank, 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	$721,000	6.7%
Single Family	$782,000	7.4%
Condos	$437,000	3.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Red Bank, NJ

As of July '25, Rentcast reports the average rent in Red Bank, NJ is $3,190, with a year-over-year rent change of -5.1%. Per bedroom, the median rent as of July '25 in Red Bank, NJ is studios: $2,180, 1-bedrooms: $2,640, 2-bedrooms: $3,290, 3-bedrooms: $4,460, 4-bedrooms: $5,240. The most common rental property sizes in Red Bank, NJ are 2-bedroom and 1-bedroom, accounting for 39.7% and 38.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$3,000	$3,190
Studio Rent	$1,850	$2,180
1 Bed Rent	$2,550	$2,640
2 Bed Rent	$3,000	$3,290
3 Bed Rent	$4,390	$4,460
4 Bed Rent	$4,500	$5,240

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% of Rental Stock

Studio

2.4%

1 Bedroom

38.2%

2 Bedrooms

39.7%

3 Bedrooms

13.8%

4 Bedrooms

5.7%

5+ Bedrooms

0.2%

Property Listings — Red Bank, NJ

As of May '26, Realtor.com reports that the median days on market for a home in Red Bank, NJ is 23. This is a decrease of -15.0% 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 4.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$599,000	-16.0%
Listing Count	99	-14.0%
Listings as % of Homes	0.7%	-14.0%
Days on Market	23	-15.0%

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Demographics — Red Bank, NJ

As of the latest ACS Survey released in 2023, Red Bank, NJ has a population of 24,500, which has increased by 2.9% over the past 5 years. Red Bank, NJ is a moderately popular place for families, as children make up 20.1% of the population. The area has a highly educated workforce, with 52.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	24,500	2.9%
% Under 18	20.1%	-3.4%
% Seniors	21.6%	19.3%
% WFH	15.5%	121.4%
% w/ College Degree	52.8%	18.9%

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As of the latest ACS Survey released in 2023, Red Bank, NJ is a predominantly white area, with 72.9% of the population identifying as white. The white population has remained stable in the last 5 years. The second most common race or ethnicity in Red Bank, NJ is hispanic, making up 18.5% of the population. Foreign-born residents account for 14.2% of the population in Red Bank, NJ, and this percentage has decreased by 13.9% 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	72.9%	0.0%
% Black	4.4%	-13.7%
% Hispanic	18.5%	-9.3%
% Asian	2.2%	22.2%
% Foreign Born	14.2%	-13.9%

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Mortgage and Risk — Red Bank, NJ

According to HUD data as of 2023, there were 333 mortgage originations in Red Bank, NJ, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Red Bank, NJ. Investor activity is low, as 4.0% 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	333
% Conventional Loans	92.0%
% Government Loans	8.0%
% Investor Loans	4.0%
% Second Loans	2.0%
% Cash Out Refinance	11.0%

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Rentals and Section 8 — Red Bank, NJ

As of 2024, the percent of homes in Red Bank, NJ under the Section 8 program is 3.0%. 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 Red Bank, 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	269
Total Units Section 8	119
% Rentals under Section 8	3.0%
% Occupied Section 8	82.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$640	$2,550	$1,910
2 Bedroom	-$640	$3,000	$2,360
3 Bedroom	-$1,250	$4,390	$3,140
4 Bedroom	-$1,000	$4,500	$3,500

Red Bank, NJ—07701

Key Metrics at a Glance

Home Price Trends — Red Bank, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Red Bank, NJ

% of Rental Stock

Property Listings — Red Bank, NJ

Demographics — Red Bank, NJ

Race and Ethnicity

Mortgage and Risk — Red Bank, NJ

Mortgages

Rentals and Section 8 — Red Bank, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Red Bank, NJ

Home Price to Income Ratio

Red Bank, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Fair Haven, NJ

Shrewsbury, NJ

Leonardo, NJ

Middletown, NJ

Little Silver, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.1
Median Home Price	$721,000
Median Household Income	$114,000

Red Bank, NJ—07701

Key Metrics at a Glance

Home Price Trends — Red Bank, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Red Bank, NJ

% of Rental Stock

Property Listings — Red Bank, NJ

Demographics — Red Bank, NJ

Race and Ethnicity

Mortgage and Risk — Red Bank, NJ

Mortgages

Rentals and Section 8 — Red Bank, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Red Bank, NJ

Home Price to Income Ratio

Red Bank, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Fair Haven, NJ

Shrewsbury, NJ

Leonardo, NJ

Middletown, NJ

Little Silver, NJ

Frequently Asked Questions

What is the average home price in Red Bank, NJ 07701?

How have home prices in Red Bank, NJ 07701 changed over the past year?

What is the home price projection for Red Bank, NJ 07701?

What are the demographics of Red Bank, NJ 07701?

How long does it take homes to sell in Red Bank, NJ 07701?

What is the average rent price in Red Bank, NJ 07701?