Washington, NJ—07882
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Washington, NJ
As of Oct '25, the median home price in Washington, NJ is $407,000, with a year-over-year change of 3.5%. This indicates that home prices in Washington, NJ are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $407,000 | 3.5% |
| Single Family | $410,000 | 3.3% |
| Condos | $333,000 | 5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $321,000 | 4.9% |
3 Bed | $396,000 | 5.3% |
4 Bed | $549,000 | 5.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Washington, NJ
As of July '25, Rentcast reports the average rent in Washington, NJ is $1,960, with a year-over-year rent change of -16.2%. Per bedroom, the median rent as of July '25 in Washington, NJ is 1-bedrooms: $1,460, 2-bedrooms: $1,740, 3-bedrooms: $2,260, 4-bedrooms: $2,830. The most common rental property sizes in Washington, NJ are 2-bedroom and 1-bedroom, accounting for 40.6% and 39.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,740 | $1,960 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,440 | $1,460 |
| 2 Bed Rent | $1,750 | $1,740 |
| 3 Bed Rent | $2,000 | $2,260 |
| 4 Bed Rent | $3,000 | $2,830 |
% of Rental Stock
Property Listings — Washington, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Washington, NJ is 44. 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $421,000 | -19.0% |
Listing Count | 62 | 45.0% |
| Listings as % of Homes | 0.9% | 45.0% |
Days on Market | 44 | 5.0% |
Demographics — Washington, NJ
As of the latest ACS Survey released in 2023, Washington, NJ has a population of 14,900, which has increased by 3.1% over the past 5 years. Washington, NJ is a moderately popular place for families, as children make up 22.5% 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 14.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,900 | 3.1% |
% Under 18 | 22.5% | 7.1% |
% Seniors | 17.7% | 32.1% |
% WFH | 14.6% | 239.5% |
% w/ College Degree | 37.9% | 28.5% |
As of the latest ACS Survey released in 2023, Washington, NJ is a predominantly white area, with 75.8% of the population identifying as white. The white population has shrunk by 11.4% in the last 5 years. The second most common race or ethnicity in Washington, NJ is hispanic, making up 10.9% of the population. Foreign-born residents account for 12.8% of the population in Washington, NJ, and this percentage has increased by 58.0% 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 | 75.8% | -11.4% |
% Black | 5.3% | 71.0% |
% Hispanic | 10.9% | 32.9% |
% Asian | 3.9% | 69.6% |
% Foreign Born | 12.8% | 58.0% |
Mortgage and Risk — Washington, NJ
According to HUD data as of 2023, there were 261 mortgage originations in Washington, NJ, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Washington, 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 | 261 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Washington, NJ
As of 2024, the percent of homes in Washington, NJ under the Section 8 program is 12.3%. 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 Washington, NJ, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 223 |
Total Units Section 8 | 206 |
% Rentals under Section 8 | 12.3% |
% Occupied Section 8 | 93.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $190 | $1,440 | $1,630 |
| 2 Bedroom | $300 | $1,750 | $2,050 |
| 3 Bedroom | $490 | $2,000 | $2,490 |
| 4 Bedroom | -$270 | $3,000 | $2,730 |
Affordability — Washington, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $407,000 |
| Median Household Income | $101,000 |