Denville, NJ—07834
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Denville, NJ
As of Oct '25, the median home price in Denville, NJ is $647,000, with a year-over-year change of 3.7%. This indicates that home prices in Denville, 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 | $647,000 | 3.7% |
| Single Family | $652,000 | 3.3% |
| Condos | $562,000 | 3.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $498,000 | 5.5% |
3 Bed | $642,000 | 4.4% |
4 Bed | $771,000 | 4.5% |
| 5 Bed | $1,048,000 | 4.6% |
% of Housing Stock
Rental Trends — Denville, NJ
As of July '25, Rentcast reports the average rent in Denville, NJ is $3,410, with a year-over-year rent change of 8.3%. Per bedroom, the median rent as of July '25 in Denville, NJ is 1-bedrooms: $2,100, 2-bedrooms: $3,030, 3-bedrooms: $3,710, 4-bedrooms: $4,430. The most common rental property sizes in Denville, NJ are 1-bedroom and 2-bedroom, accounting for 36.2% and 27.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $3,410 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,000 | $2,100 |
| 2 Bed Rent | $3,150 | $3,030 |
| 3 Bed Rent | $3,330 | $3,710 |
| 4 Bed Rent | $4,600 | $4,430 |
% of Rental Stock
Property Listings — Denville, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Denville, NJ is 26. This is a decrease of -28.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $694,000 | 6.0% |
Listing Count | 70 | 27.0% |
| Listings as % of Homes | 0.5% | 27.0% |
Days on Market | 26 | -28.0% |
Demographics — Denville, NJ
As of the latest ACS Survey released in 2023, Denville, NJ has a population of 18,200, which has increased by 2.0% over the past 5 years. Denville, NJ is a moderately popular place for families, as children make up 20.9% of the population. The area has a highly educated workforce, with 61.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,200 | 2.0% |
% Under 18 | 20.9% | -0.5% |
% Seniors | 17.5% | -7.9% |
% WFH | 23.8% | 310.3% |
% w/ College Degree | 61.6% | 7.3% |
As of the latest ACS Survey released in 2023, Denville, NJ is a predominantly white area, with 77.2% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in Denville, NJ is asian, making up 9.2% of the population. Foreign-born residents account for 13.1% of the population in Denville, NJ, and this percentage has increased by 7.4% 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 | 77.2% | -4.6% |
% Black | 2.0% | -4.8% |
% Hispanic | 7.5% | 19.0% |
% Asian | 9.2% | -4.2% |
% Foreign Born | 13.1% | 7.4% |
Mortgage and Risk — Denville, NJ
According to HUD data as of 2023, there were 360 mortgage originations in Denville, NJ, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Denville, NJ. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 360 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Denville, NJ
As of 2024, the percent of homes in Denville, NJ under the Section 8 program is 6.1%. 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 units appear to be good home sizes to consider for Section 8 housing in Denville, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 119 |
Total Units Section 8 | 62 |
% Rentals under Section 8 | 6.1% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $2,000 | $2,050 |
| 2 Bedroom | -$670 | $3,150 | $2,480 |
| 3 Bedroom | -$210 | $3,330 | $3,120 |
| 4 Bedroom | -$1,050 | $4,600 | $3,550 |
Affordability — Denville, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $647,000 |
| Median Household Income | $163,000 |