Red Bank, NJ—07701
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Red Bank, NJ
As of Oct '25, the median home price in Red Bank, NJ is $676,000, with a year-over-year change of 3.8%. This indicates that home prices in Red Bank, 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 | $676,000 | 3.8% |
| Single Family | $721,000 | 3.7% |
| Condos | $410,000 | 3.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $323,000 | 3.5% |
2 Bed | $493,000 | 6.2% |
3 Bed | $721,000 | 3.9% |
4 Bed | $914,000 | 3.7% |
| 5 Bed | $1,122,000 | 4.1% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Red Bank, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Red Bank, NJ is 29. This is a decrease of -35.0% 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 | $632,000 | -7.0% |
Listing Count | 92 | -3.0% |
| Listings as % of Homes | 0.7% | -3.0% |
Days on Market | 29 | -35.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Red Bank, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $676,000 |
| Median Household Income | $114,000 |