Lafayette Township, NJ—07848
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lafayette Township, NJ
As of Oct '25, the median home price in Lafayette Township, NJ is $477,000, with a year-over-year change of 1.2%. This indicates that home prices in Lafayette Township, 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 | $477,000 | 1.2% |
| Single Family | $509,000 | 1.4% |
| Condos | $274,000 | 7.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $302,000 | 1.0% |
3 Bed | $467,000 | 4.9% |
4 Bed | $711,000 | 4.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lafayette Township, NJ
As of July '25, Rentcast reports the average rent in Lafayette Township, NJ is $1,960, with a year-over-year rent change of -8.4%. Per bedroom, the median rent as of July '25 in Lafayette Township, NJ is 1-bedrooms: $1,940, 2-bedrooms: $1,960. The most common rental property sizes in Lafayette Township, NJ are 2-bedroom and 1-bedroom, accounting for 39.2% and 35.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,940 | $1,960 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,940 | $1,940 |
| 2 Bed Rent | $2,100 | $1,960 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lafayette Township, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Lafayette Township, NJ is 18. This is a decrease of -59.0% 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 | $522,000 | -8.0% |
Listing Count | 10 | -36.0% |
| Listings as % of Homes | 0.9% | -36.0% |
Days on Market | 18 | -59.0% |
Demographics — Lafayette Township, NJ
As of the latest ACS Survey released in 2023, Lafayette Township, NJ has a population of 4,510, which has decreased by -10.8% over the past 5 years. Lafayette Township, NJ is a moderately popular place for families, as children make up 16.1% of the population. The area has a moderately educated workforce, with 37.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,510 | -10.8% |
% Under 18 | 16.1% | -9.6% |
% Seniors | 28.3% | 24.1% |
% WFH | 14.9% | 73.3% |
% w/ College Degree | 37.9% | 16.3% |
As of the latest ACS Survey released in 2023, Lafayette Township, NJ is a predominantly white area, with 85.8% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Lafayette Township, NJ is hispanic, making up 8.8% of the population. Foreign-born residents account for 7.9% of the population in Lafayette Township, NJ, and this percentage has increased by 8.2% 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 | 85.8% | -2.7% |
% Black | 0.8% | -74.2% |
% Hispanic | 8.8% | 69.2% |
% Asian | 2.8% | -3.4% |
% Foreign Born | 7.9% | 8.2% |
Mortgage and Risk — Lafayette Township, NJ
According to HUD data as of 2023, there were 41 mortgage originations in Lafayette Township, NJ, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Lafayette Township, NJ. Investor activity is low, as 0.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 41 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Lafayette Township, NJ
Lafayette Township, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 4.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$380 | $1,940 | $1,560 |
| 2 Bedroom | -$210 | $2,100 | $1,890 |
| 3 Bedroom | N/A | N/A | $2,380 |
| 4 Bedroom | N/A | N/A | $2,710 |
Affordability — Lafayette Township, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $477,000 |
| Median Household Income | $116,000 |