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Bernardsville, NJ—07924

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$1,026,000
3.8% YoY Growth
Household Income
$231,000
44.2% YoY Growth
Days on Market
19
84.0% Longer YoY
Home Price Forecast
1.5%
Median Rent
$2,250
0.8% YoY Growth
1-Bed Rent
$2,150
14.4% YoY Growth
2-Bed Rent
$2,500
4.3% YoY Growth
3-Bed Rent
$3,400
N/A
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Bernardsville, NJ

As of May '26, the median home price in Bernardsville, NJ is $1,026,000, with a year-over-year change of 3.8%. This indicates that home prices in Bernardsville, NJ are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$1,026,0003.8%
Single Family $1,066,0004.1%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		N/AN/A
    3 Bed
    		$742,0002.9%
    4 Bed
    		$1,106,0004.4%
    5 Bed $1,922,3374.8%
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    % of Housing Stock

    Studio
    1.1%
    1 Bedroom
    0.9%
    2 Bedrooms
    8.4%
    3 Bedrooms
    28.9%
    4 Bedrooms
    37.7%
    5+ Bedrooms
    23.0%

    Rental Trends — Bernardsville, NJ

    As of July '25, Rentcast reports the average rent in Bernardsville, NJ is $2,430, with a year-over-year rent change of 0.8%. Per bedroom, the median rent as of July '25 in Bernardsville, NJ is 1-bedrooms: $2,060, 2-bedrooms: $2,450, 3-bedrooms: $3,400. The most common rental property sizes in Bernardsville, NJ are 3-bedroom and 2-bedroom, accounting for 49.4% and 34.7% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,250$2,430
    Studio Rent N/AN/A
    1 Bed Rent $2,150$2,060
    2 Bed Rent $2,500$2,450
    3 Bed Rent $3,400$3,400
    4 Bed Rent N/AN/A
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    % of Rental Stock

    2 Bedrooms
    34.7%
    3 Bedrooms
    49.4%
    4 Bedrooms
    9.1%
    5+ Bedrooms
    6.8%

    Property Listings — Bernardsville, NJ

    As of May '26, Realtor.com reports that the median days on market for a home in Bernardsville, NJ is 19. This is a increase of 84.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,740,0008.0%
    Listing Count
    		30-28.0%
    Listings as % of Homes1.0%-28.0%
    Days on Market
    		1984.0%
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    Demographics — Bernardsville, NJ

    As of the latest ACS Survey released in 2023, Bernardsville, NJ has a population of 7,760, which has increased by 2.2% over the past 5 years. Bernardsville, NJ is a popular place for families, as children make up 26.0% of the population. The area has a highly educated workforce, with 69.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		7,7602.2%
    % Under 18
    		26.0%0.4%
    % Seniors
    		18.3%46.4%
    % WFH
    		22.6%78.0%
    % w/ College Degree
    		69.4%-6.0%
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    As of the latest ACS Survey released in 2023, Bernardsville, NJ is a predominantly white area, with 82.0% of the population identifying as white. The white population has shrunk by 0.2% in the last 5 years. The second most common race or ethnicity in Bernardsville, NJ is hispanic, making up 10.8% of the population. Foreign-born residents account for 16.2% of the population in Bernardsville, NJ, and this percentage has decreased by 11.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		82.0%-0.2%
    % Black
    		0.6%∞%
    % Hispanic
    		10.8%-15.6%
    % Asian
    		2.8%-44.0%
    % Foreign Born
    		16.2%-11.5%
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    Mortgage and Risk — Bernardsville, NJ

    According to HUD data as of 2023, there were 133 mortgage originations in Bernardsville, NJ, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Bernardsville, NJ. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		133
    % Conventional Loans
    		95.0%
    % Government Loans
    		5.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Bernardsville, NJ

    Bernardsville, NJ lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		3
    Total Units Section 8
    		3
    % Rentals under Section 8
    		1.1%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$260$2,150$1,890
    2 Bedroom-$120$2,500$2,380
    3 Bedroom-$530$3,400$2,870
    4 BedroomN/AN/A$3,160

    Affordability — Bernardsville, NJ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.6
    Median Home Price$1,026,000
    Median Household Income$231,000

    Bernardsville, NJ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Far Hills, NJ

    07931

    Mendham, NJ

    07945

    Basking Ridge, NJ

    07920

    Peapack

    07977

    Lyons

    07939

    Frequently Asked Questions