Rockaway, NJ—07866
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Rockaway, NJ
As of Oct '25, the median home price in Rockaway, NJ is $556,000, with a year-over-year change of 4.0%. This indicates that home prices in Rockaway, NJ are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $556,000 | 4.1% |
| Single Family | $569,000 | 3.5% |
| Condos | $425,000 | 5.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $321,000 | 2.2% |
2 Bed | $455,000 | 4.1% |
3 Bed | $549,000 | 5.0% |
4 Bed | $669,000 | 5.0% |
| 5 Bed | $825,000 | 5.2% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Rockaway, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Rockaway, NJ is 45. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $567,000 | 4.0% |
Listing Count | 78 | -4.0% |
| Listings as % of Homes | 0.8% | -4.0% |
Days on Market | 45 | -1.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $556,000 |
| Median Household Income | $124,000 |