Berkeley Heights, NJ—07922
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Berkeley Heights, NJ
As of Oct '25, the median home price in Berkeley Heights, NJ is $890,000, with a year-over-year change of 0.8%. This indicates that home prices in Berkeley Heights, NJ are flat. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $890,000 | 0.8% |
| Single Family | $908,000 | 0.9% |
| Condos | $540,000 | 1.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $533,000 | 0.6% |
3 Bed | $795,000 | 3.0% |
4 Bed | $997,000 | 2.8% |
| 5 Bed | $1,247,000 | 3.5% |
% of Housing Stock
Rental Trends — Berkeley Heights, NJ
As of July '25, Rentcast reports the average rent in Berkeley Heights, NJ is $3,540, with a year-over-year rent change of 3.5%. Per bedroom, the median rent as of July '25 in Berkeley Heights, NJ is 1-bedrooms: $2,530, 2-bedrooms: $3,390, 3-bedrooms: $4,030, 4-bedrooms: $5,180. The most common rental property sizes in Berkeley Heights, NJ are 1-bedroom and 4-bedroom, accounting for 40.8% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $3,540 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,500 | $2,530 |
| 2 Bed Rent | $3,250 | $3,390 |
| 3 Bed Rent | $3,850 | $4,030 |
| 4 Bed Rent | $5,500 | $5,180 |
% of Rental Stock
Property Listings — Berkeley Heights, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Berkeley Heights, NJ is 41. This is a decrease of -23.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $774,000 | -4.0% |
Listing Count | 41 | 36.0% |
| Listings as % of Homes | 0.4% | 36.0% |
Days on Market | 41 | -23.0% |
Demographics — Berkeley Heights, NJ
As of the latest ACS Survey released in 2023, Berkeley Heights, NJ has a population of 12,000, which has decreased by -3.5% over the past 5 years. Berkeley Heights, NJ is a moderately popular place for families, as children make up 21.5% of the population. The area has a highly educated workforce, with 73.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,000 | -3.5% |
% Under 18 | 21.5% | -13.7% |
% Seniors | 20.2% | 5.8% |
% WFH | 25.3% | 368.5% |
% w/ College Degree | 73.0% | 6.9% |
As of the latest ACS Survey released in 2023, Berkeley Heights, NJ is a predominantly white area, with 68.5% of the population identifying as white. The white population has shrunk by 12.6% in the last 5 years. The second most common race or ethnicity in Berkeley Heights, NJ is asian, making up 18.6% of the population. Foreign-born residents account for 19.5% of the population in Berkeley Heights, NJ, and this percentage has decreased by 1.5% 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 | 68.5% | -12.6% |
% Black | 2.9% | 61.1% |
% Hispanic | 7.2% | 28.6% |
% Asian | 18.6% | 36.8% |
% Foreign Born | 19.5% | -1.5% |
Mortgage and Risk — Berkeley Heights, NJ
According to HUD data as of 2023, there were 217 mortgage originations in Berkeley Heights, NJ, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Berkeley Heights, NJ. Investor activity is low, as 1.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 217 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Berkeley Heights, NJ
As of 2024, the percent of homes in Berkeley Heights, NJ under the Section 8 program is 1.1%. 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 Berkeley Heights, NJ, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 6 |
Total Units Section 8 | 6 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $150 | $2,500 | $2,650 |
| 2 Bedroom | -$40 | $3,250 | $3,210 |
| 3 Bedroom | $190 | $3,850 | $4,040 |
| 4 Bedroom | -$900 | $5,500 | $4,600 |
Affordability — Berkeley Heights, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $890,000 |
| Median Household Income | $179,000 |