East Hanover Township, NJ—07936
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — East Hanover Township, NJ
As of Oct '25, the median home price in East Hanover Township, NJ is $824,000, with a year-over-year change of 3.8%. This indicates that home prices in East Hanover Township, NJ are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $824,000 | 3.8% |
| Single Family | $853,000 | 3.6% |
| Condos | $504,000 | 2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $565,000 | 4.6% |
3 Bed | $735,000 | 7.0% |
4 Bed | $955,000 | 6.6% |
| 5 Bed | $1,101,000 | 6.6% |
% of Housing Stock
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.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $3,400 |
| Studio Rent | N/A | N/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 |
% of Rental Stock
Property Listings — East Hanover Township, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in East Hanover Township, NJ is 31. This is a decrease of -3.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $876,000 | 7.0% |
Listing Count | 27 | 35.0% |
| Listings as % of Homes | 0.3% | 35.0% |
Days on Market | 31 | -3.0% |
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.
| Metric | Latest Census | YoY % 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% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $824,000 |
| Median Household Income | $145,000 |