Bernardsville, NJ—07924
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Bernardsville, NJ
As of Oct '25, the median home price in Bernardsville, NJ is $999,000, with a year-over-year change of 1.6%. This indicates that home prices in Bernardsville, NJ are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $999,000 | 1.6% |
| Single Family | $1,030,000 | 1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $717,000 | 1.8% |
4 Bed | $1,064,000 | 2.1% |
| 5 Bed | $1,848,000 | 2.1% |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,430 |
| Studio Rent | N/A | N/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/A | N/A |
% of Rental Stock
Property Listings — Bernardsville, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Bernardsville, NJ is 42. This is a decrease of -30.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,540,000 | 4.0% |
Listing Count | 42 | -8.0% |
| Listings as % of Homes | 1.0% | -8.0% |
Days on Market | 42 | -30.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,760 | 2.2% |
% Under 18 | 26.0% | 0.4% |
% Seniors | 18.3% | 46.4% |
% WFH | 22.6% | 78.0% |
% w/ College Degree | 69.4% | -6.0% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$260 | $2,150 | $1,890 |
| 2 Bedroom | -$120 | $2,500 | $2,380 |
| 3 Bedroom | -$530 | $3,400 | $2,870 |
| 4 Bedroom | N/A | N/A | $3,160 |
Affordability — Bernardsville, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $999,000 |
| Median Household Income | $231,000 |