Wharton, NJ—07885
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Wharton, NJ
As of Oct '25, the median home price in Wharton, NJ is $497,000, with a year-over-year change of 3.4%. This indicates that home prices in Wharton, 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 | $497,000 | 3.4% |
| Single Family | $513,000 | 2.6% |
| Condos | $347,000 | 4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $283,000 | 2.9% |
2 Bed | $413,000 | 2.5% |
3 Bed | $510,000 | 3.7% |
4 Bed | $582,000 | 3.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Wharton, NJ
As of July '25, Rentcast reports the average rent in Wharton, NJ is $2,550, with a year-over-year rent change of 19.7%. Per bedroom, the median rent as of July '25 in Wharton, NJ is studios: $1,960, 1-bedrooms: $1,960, 2-bedrooms: $2,490, 3-bedrooms: $3,320, 4-bedrooms: $3,950. The most common rental property sizes in Wharton, NJ are 2-bedroom and 1-bedroom, accounting for 46.6% and 34.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,550 |
| Studio Rent | $1,960 | $1,960 |
| 1 Bed Rent | $1,900 | $1,960 |
| 2 Bed Rent | $2,700 | $2,490 |
| 3 Bed Rent | $3,100 | $3,320 |
| 4 Bed Rent | $3,900 | $3,950 |
% of Rental Stock
Property Listings — Wharton, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Wharton, NJ is 46. This is a decrease of -20.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $452,000 | -13.0% |
Listing Count | 22 | -16.0% |
| Listings as % of Homes | 0.4% | -16.0% |
Days on Market | 46 | -20.0% |
Demographics — Wharton, NJ
As of the latest ACS Survey released in 2023, Wharton, NJ has a population of 11,900, which has increased by 18.0% over the past 5 years. Wharton, NJ is a moderately popular place for families, as children make up 20.1% of the population. The area has a moderately educated workforce, with 38.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,900 | 18.0% |
% Under 18 | 20.1% | -14.8% |
% Seniors | 17.2% | 17.8% |
% WFH | 13.5% | 1,828.6% |
% w/ College Degree | 38.4% | 28.9% |
As of the latest ACS Survey released in 2023, Wharton, NJ is a predominantly white area, with 58.5% of the population identifying as white. The white population has grown by 7.7% in the last 5 years. The second most common race or ethnicity in Wharton, NJ is hispanic, making up 34.7% of the population. Foreign-born residents account for 19.1% of the population in Wharton, NJ, and this percentage has decreased by 21.7% 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 | 58.5% | 7.7% |
% Black | 1.4% | 0.0% |
% Hispanic | 34.7% | -4.1% |
% Asian | 0.9% | -86.2% |
% Foreign Born | 19.1% | -21.7% |
Mortgage and Risk — Wharton, NJ
According to HUD data as of 2023, there were 80 mortgage originations in Wharton, NJ, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Wharton, NJ. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 80 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Wharton, NJ
As of 2024, the percent of homes in Wharton, NJ under the Section 8 program is 5.2%. 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 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Wharton, NJ, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 87 |
Total Units Section 8 | 87 |
% Rentals under Section 8 | 5.2% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $290 | $1,900 | $2,190 |
| 2 Bedroom | -$50 | $2,700 | $2,650 |
| 3 Bedroom | $240 | $3,100 | $3,340 |
| 4 Bedroom | -$100 | $3,900 | $3,800 |
Affordability — Wharton, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $497,000 |
| Median Household Income | $101,000 |