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Rockaway, NJ—07866

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$574,000
3.2% YoY Growth
Household Income
$124,000
17.1% YoY Growth
Days on Market
32
5.0% Longer YoY
Home Price Forecast
1.2%
Median Rent
$2,500
13.6% YoY Growth
1-Bed Rent
$1,900
8.1% YoY Growth
2-Bed Rent
$2,450
6.8% YoY Growth
3-Bed Rent
$3,500
16.1% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Rockaway, NJ

As of May '26, the median home price in Rockaway, NJ is $574,000, with a year-over-year change of 3.2%. This indicates that home prices in Rockaway, NJ are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$574,0003.2%
Single Family $589,0003.2%
Condos $427,0002.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $324,000
    -0.9%
    2 Bed
    		$464,0002.0%
    3 Bed
    		$567,0003.8%
    4 Bed
    		$696,0004.5%
    5 Bed $849,7344.5%
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    % of Housing Stock

    Studio
    3.2%
    1 Bedroom
    8.8%
    2 Bedrooms
    22.7%
    3 Bedrooms
    34.1%
    4 Bedrooms
    26.9%
    5+ Bedrooms
    4.4%

    Rental Trends — Rockaway, NJ

    As of July '25, Rentcast reports the average rent in Rockaway, NJ is $2,750, with a year-over-year rent change of 13.6%. Per bedroom, the median rent as of July '25 in Rockaway, NJ is studios: $1,550, 1-bedrooms: $2,000, 2-bedrooms: $2,500, 3-bedrooms: $3,610, 4-bedrooms: $4,130. The most common rental property sizes in Rockaway, NJ are 2-bedroom and 1-bedroom, accounting for 43.5% and 24.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,500$2,750
    Studio Rent $1,500$1,550
    1 Bed Rent $1,900$2,000
    2 Bed Rent $2,450$2,500
    3 Bed Rent $3,500$3,610
    4 Bed Rent $3,500$4,130
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    % of Rental Stock

    Studio
    14.6%
    1 Bedroom
    24.5%
    2 Bedrooms
    43.5%
    3 Bedrooms
    14.3%
    4 Bedrooms
    1.9%
    5+ Bedrooms
    1.2%

    Property Listings — Rockaway, NJ

    As of May '26, Realtor.com reports that the median days on market for a home in Rockaway, NJ is 32. This is a increase of 5.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$555,000-3.0%
    Listing Count
    		872.0%
    Listings as % of Homes0.8%2.0%
    Days on Market
    		325.0%
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    Demographics — Rockaway, NJ

    As of the latest ACS Survey released in 2023, Rockaway, NJ has a population of 22,600, which has remained stable by -0.9% over the past 5 years. Rockaway, 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 50.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		22,600-0.9%
    % Under 18
    		20.1%-5.2%
    % Seniors
    		19.5%8.9%
    % WFH
    		22.2%226.5%
    % w/ College Degree
    		50.2%1.0%
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    As of the latest ACS Survey released in 2023, Rockaway, NJ is a predominantly white area, with 74.4% 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 Rockaway, NJ is hispanic, making up 15.9% of the population. Foreign-born residents account for 14.4% of the population in Rockaway, NJ, and this percentage has decreased by 12.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		74.4%-2.7%
    % Black
    		1.0%-78.3%
    % Hispanic
    		15.9%37.1%
    % Asian
    		5.6%-6.7%
    % Foreign Born
    		14.4%-12.7%
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    Mortgage and Risk — Rockaway, NJ

    According to HUD data as of 2023, there were 439 mortgage originations in Rockaway, NJ, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Rockaway, NJ. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		439
    % Conventional Loans
    		90.0%
    % Government Loans
    		10.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Rockaway, NJ

    As of 2024, the percent of homes in Rockaway, NJ under the Section 8 program is 1.8%. 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 Rockaway, 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
    		74
    Total Units Section 8
    		35
    % Rentals under Section 8
    		1.8%
    % Occupied Section 8
    		96.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$110$1,900$2,010
    2 Bedroom-$20$2,450$2,430
    3 Bedroom-$440$3,500$3,060
    4 Bedroom-$20$3,500$3,480

    Affordability — Rockaway, NJ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.8
    Median Home Price$574,000
    Median Household Income$124,000

    Rockaway, NJ — ZIP Code Boundary Map

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    Frequently Asked Questions