Mendham, NJ—07945
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mendham, NJ
As of Oct '25, the median home price in Mendham, NJ is $1,072,000, with a year-over-year change of 5.0%. This indicates that home prices in Mendham, 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 | $1,072,000 | 5.0% |
| Single Family | $1,092,000 | 5.1% |
| Condos | $541,000 | -2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $558,000 | 4.3% |
3 Bed | $755,000 | 4.3% |
4 Bed | $1,124,000 | 5.6% |
| 5 Bed | $1,504,000 | 6.4% |
% of Housing Stock
Rental Trends — Mendham, NJ
As of July '25, Rentcast reports the average rent in Mendham, NJ is $4,660, with a year-over-year rent change of 0.2%. Per bedroom, the median rent as of July '25 in Mendham, NJ is 2-bedrooms: $3,520, 3-bedrooms: $3,800, 4-bedrooms: $6,750. The most common rental property sizes in Mendham, NJ are 2-bedroom and 1-bedroom, accounting for 30.4% and 27.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,950 | $4,660 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $3,400 | $3,520 |
| 3 Bed Rent | $3,800 | $3,800 |
| 4 Bed Rent | $6,000 | $6,750 |
% of Rental Stock
Property Listings — Mendham, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Mendham, NJ is 42. This is a increase of 18.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,230,000 | -15.0% |
Listing Count | 40 | -17.0% |
| Listings as % of Homes | 1.0% | -17.0% |
Days on Market | 42 | 18.0% |
Demographics — Mendham, NJ
As of the latest ACS Survey released in 2023, Mendham, NJ has a population of 9,770, which has increased by 8.6% over the past 5 years. Mendham, NJ is a moderately popular place for families, as children make up 22.7% of the population. The area has a highly educated workforce, with 77.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,770 | 8.6% |
% Under 18 | 22.7% | -10.6% |
% Seniors | 18.6% | 12.7% |
% WFH | 28.4% | 175.7% |
% w/ College Degree | 77.9% | 8.5% |
As of the latest ACS Survey released in 2023, Mendham, NJ is a predominantly white area, with 81.2% of the population identifying as white. The white population has shrunk by 9.3% in the last 5 years. The second most common race or ethnicity in Mendham, NJ is hispanic, making up 5.8% of the population. Foreign-born residents account for 12.4% of the population in Mendham, NJ, and this percentage has increased by 65.3% 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 | 81.2% | -9.3% |
% Black | 0.2% | -75.0% |
% Hispanic | 5.8% | 7.4% |
% Asian | 5.5% | 175.0% |
% Foreign Born | 12.4% | 65.3% |
Mortgage and Risk — Mendham, NJ
According to HUD data as of 2023, there were 193 mortgage originations in Mendham, NJ, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Mendham, NJ. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 193 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Mendham, NJ
Mendham, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,580 |
| 2 Bedroom | -$280 | $3,400 | $3,120 |
| 3 Bedroom | $130 | $3,800 | $3,930 |
| 4 Bedroom | -$1,530 | $6,000 | $4,470 |
Affordability — Mendham, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $1,072,000 |
| Median Household Income | $244,000 |