Dover, NJ—07801
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Dover, NJ
As of Oct '25, the median home price in Dover, NJ is $498,000, with a year-over-year change of 1.6%. This indicates that home prices in Dover, NJ are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $498,000 | 1.6% |
| Single Family | $503,000 | 1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $366,000 | 2.5% |
3 Bed | $488,000 | 2.7% |
4 Bed | $579,000 | 3.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Dover, NJ
As of July '25, Rentcast reports the average rent in Dover, NJ is $2,380, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Dover, NJ is 1-bedrooms: $1,920, 2-bedrooms: $2,390, 3-bedrooms: $2,640, 4-bedrooms: $4,000. The most common rental property sizes in Dover, NJ are 2-bedroom and 1-bedroom, accounting for 31.8% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,880 | $1,920 |
| 2 Bed Rent | $2,300 | $2,390 |
| 3 Bed Rent | $2,650 | $2,640 |
| 4 Bed Rent | $4,000 | $4,000 |
% of Rental Stock
Property Listings — Dover, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Dover, NJ is 56. This is a increase of 32.0% from last year, suggesting that homes are sitting on the market longer 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 | $502,000 | 6.0% |
Listing Count | 35 | 22.0% |
| Listings as % of Homes | 0.2% | 22.0% |
Days on Market | 56 | 32.0% |
Demographics — Dover, NJ
As of the latest ACS Survey released in 2023, Dover, NJ has a population of 26,700, which has increased by 6.8% over the past 5 years. Dover, NJ is a moderately popular place for families, as children make up 20.5% of the population. The area has a poorly educated workforce, with 22.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,700 | 6.8% |
% Under 18 | 20.5% | -10.1% |
% Seniors | 12.9% | 21.7% |
% WFH | 9.0% | 210.3% |
% w/ College Degree | 22.1% | 1.4% |
As of the latest ACS Survey released in 2023, Dover, NJ is a predominantly hispanic area, with 64.9% of the population identifying as hispanic. The hispanic population has grown by 11.9% in the last 5 years. The second most common race or ethnicity in Dover, NJ is white, making up 22.2% of the population. Foreign-born residents account for 46.3% of the population in Dover, NJ, and this percentage has increased by 11.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 22.2% | -23.4% |
% Black | 5.6% | -28.2% |
% Hispanic | 64.9% | 11.9% |
% Asian | 4.2% | 0.0% |
% Foreign Born | 46.3% | 11.8% |
Mortgage and Risk — Dover, NJ
According to HUD data as of 2023, there were 174 mortgage originations in Dover, NJ, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Dover, NJ. Investor activity is low, as 6.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 174 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Dover, NJ
As of 2024, the percent of homes in Dover, 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. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Dover, NJ, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 507 |
Total Units Section 8 | 371 |
% Rentals under Section 8 | 8.0% |
% Occupied Section 8 | 95.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $1,880 | $2,020 |
| 2 Bedroom | $140 | $2,300 | $2,440 |
| 3 Bedroom | $420 | $2,650 | $3,070 |
| 4 Bedroom | -$510 | $4,000 | $3,490 |
Affordability — Dover, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $498,000 |
| Median Household Income | $78,100 |