Florham Park, NJ—07932
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Florham Park, NJ
As of Oct '25, the median home price in Florham Park, NJ is $979,000, with a year-over-year change of 5.7%. This indicates that home prices in Florham Park, NJ are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $979,000 | 5.7% |
| Single Family | $1,012,000 | 6.0% |
| Condos | $718,000 | 4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $676,000 | 1.8% |
3 Bed | $842,000 | 7.5% |
4 Bed | $1,128,000 | 8.9% |
| 5 Bed | $1,596,000 | 9.0% |
% of Housing Stock
Rental Trends — Florham Park, NJ
As of July '25, Rentcast reports the average rent in Florham Park, NJ is $3,390, with a year-over-year rent change of -14.0%. Per bedroom, the median rent as of July '25 in Florham Park, NJ is 1-bedrooms: $2,680, 2-bedrooms: $3,770, 3-bedrooms: $4,220, 4-bedrooms: $4,100. The most common rental property sizes in Florham Park, NJ are 2-bedroom and 1-bedroom, accounting for 43.5% and 31.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,300 | $3,390 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,620 | $2,680 |
| 2 Bed Rent | $4,000 | $3,770 |
| 3 Bed Rent | $4,150 | $4,220 |
| 4 Bed Rent | $4,100 | $4,100 |
% of Rental Stock
Property Listings — Florham Park, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Florham Park, NJ is 24. This is a decrease of -49.0% 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 | $1,020,000 | -33.0% |
Listing Count | 21 | -38.0% |
| Listings as % of Homes | 0.6% | -38.0% |
Days on Market | 24 | -49.0% |
Demographics — Florham Park, NJ
As of the latest ACS Survey released in 2023, Florham Park, NJ has a population of 11,500, which has increased by 16.2% over the past 5 years. Florham Park, NJ is a moderately popular place for families, as children make up 19.9% of the population. The area has a highly educated workforce, with 66.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,500 | 16.2% |
% Under 18 | 19.9% | 7.0% |
% Seniors | 23.4% | 5.9% |
% WFH | 27.1% | 266.2% |
% w/ College Degree | 66.2% | -3.8% |
As of the latest ACS Survey released in 2023, Florham Park, NJ is a predominantly white area, with 67.7% of the population identifying as white. The white population has shrunk by 13.9% in the last 5 years. The second most common race or ethnicity in Florham Park, NJ is asian, making up 11.5% of the population. Foreign-born residents account for 15.4% of the population in Florham Park, NJ, and this percentage has increased by 1.3% 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 | 67.7% | -13.9% |
% Black | 7.8% | 169.0% |
% Hispanic | 9.3% | 45.3% |
% Asian | 11.5% | 1.8% |
% Foreign Born | 15.4% | 1.3% |
Mortgage and Risk — Florham Park, NJ
According to HUD data as of 2023, there were 185 mortgage originations in Florham Park, NJ, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Florham Park, NJ. Investor activity is low, as 1.0% 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 | 185 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Florham Park, NJ
As of 2024, the percent of homes in Florham Park, NJ under the Section 8 program is 1.9%. 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 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Florham Park, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 34 |
Total Units Section 8 | 26 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $2,620 | $2,650 |
| 2 Bedroom | -$790 | $4,000 | $3,210 |
| 3 Bedroom | -$110 | $4,150 | $4,040 |
| 4 Bedroom | $500 | $4,100 | $4,600 |
Affordability — Florham Park, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $979,000 |
| Median Household Income | $147,000 |