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East Hanover Township, NJ—07936

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$879,000
6.9% YoY Growth
Household Income
$145,000
11.7% YoY Growth
Days on Market
26
65.0% Longer YoY
Home Price Forecast
1.3%
Median Rent
$3,200
11.5% YoY Growth
1-Bed Rent
$2,700
45.8% YoY Growth
2-Bed Rent
$2,950
4.7% YoY Growth
3-Bed Rent
$3,500
7.4% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — East Hanover Township, NJ

As of May '26, the median home price in East Hanover Township, NJ is $879,000, with a year-over-year change of 6.9%. This indicates that home prices in East Hanover Township, NJ are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$879,0006.9%
Single Family $911,0005.8%
Condos $523,0005.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$592,0005.3%
    3 Bed
    		$800,0006.8%
    4 Bed
    		$1,014,0005.7%
    5 Bed $1,172,3596.4%
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    % of Housing Stock

    Studio
    0.3%
    1 Bedroom
    1.9%
    2 Bedrooms
    10.6%
    3 Bedrooms
    35.5%
    4 Bedrooms
    45.8%
    5+ Bedrooms
    6.0%

    Rental Trends — East Hanover Township, NJ

    As of July '25, Rentcast reports the average rent in East Hanover Township, NJ is $3,400, with a year-over-year rent change of -11.5%. Per bedroom, the median rent as of July '25 in East Hanover Township, NJ is 1-bedrooms: $2,770, 2-bedrooms: $3,140, 3-bedrooms: $3,780, 4-bedrooms: $4,780. The most common rental property sizes in East Hanover Township, NJ are 3-bedroom and 2-bedroom, accounting for 75.1% and 24.9% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$3,200$3,400
    Studio Rent N/AN/A
    1 Bed Rent $2,700$2,770
    2 Bed Rent $2,950$3,140
    3 Bed Rent $3,500$3,780
    4 Bed Rent $4,780$4,780
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    % of Rental Stock

    2 Bedrooms
    24.9%
    3 Bedrooms
    75.1%

    Property Listings — East Hanover Township, NJ

    As of May '26, Realtor.com reports that the median days on market for a home in East Hanover Township, NJ is 26. This is a increase of 65.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,020,0009.0%
    Listing Count
    		2611.0%
    Listings as % of Homes0.3%11.0%
    Days on Market
    		2665.0%
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    Demographics — East Hanover Township, NJ

    As of the latest ACS Survey released in 2023, East Hanover Township, NJ has a population of 11,100, which has remained stable by -0.1% over the past 5 years. East Hanover Township, NJ is a moderately popular place for families, as children make up 17.9% of the population. The area has a highly educated workforce, with 55.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		11,100-0.1%
    % Under 18
    		17.9%-6.3%
    % Seniors
    		24.6%14.4%
    % WFH
    		13.9%308.8%
    % w/ College Degree
    		55.2%21.9%
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    As of the latest ACS Survey released in 2023, East Hanover Township, NJ is a predominantly white area, with 70.0% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in East Hanover Township, NJ is asian, making up 12.8% of the population. Foreign-born residents account for 17.0% of the population in East Hanover Township, NJ, and this percentage has decreased by 25.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		70.0%-1.0%
    % Black
    		3.4%183.3%
    % Hispanic
    		11.3%-15.7%
    % Asian
    		12.8%-8.6%
    % Foreign Born
    		17.0%-25.4%
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    Mortgage and Risk — East Hanover Township, NJ

    According to HUD data as of 2023, there were 151 mortgage originations in East Hanover Township, NJ, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in East Hanover Township, NJ. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		151
    % Conventional Loans
    		93.0%
    % Government Loans
    		7.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		15.0%
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    Rentals and Section 8 — East Hanover Township, NJ

    As of 2024, the percent of homes in East Hanover Township, NJ under the Section 8 program is 0.9%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in East Hanover Township, NJ, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		N/A
    Total Units Section 8
    		N/A
    % Rentals under Section 8
    		0.9%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$50$2,700$2,650
    2 Bedroom$260$2,950$3,210
    3 Bedroom$540$3,500$4,040
    4 Bedroom-$180$4,780$4,600

    Affordability — East Hanover Township, NJ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.8
    Median Home Price$879,000
    Median Household Income$145,000

    East Hanover Township, NJ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Livingston, NJ

    07039

    Florham Park, NJ

    07932

    Pine Brook, NJ

    07058

    Parsippany, NJ

    07054

    Roseland, NJ

    07068

    Frequently Asked Questions