New Vernon, NJ—07976
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Vernon, NJ
As of Oct '25, the median home price in New Vernon, NJ is $1,956,000, with a year-over-year change of 2.7%. This indicates that home prices in New Vernon, NJ are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,956,000 | 2.7% |
| Single Family | $1,949,000 | 3.2% |
| 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 | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Vernon, NJ
New Vernon, NJ lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Vernon, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in New Vernon, NJ is 24. This is a decrease of -28.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,060,000 | -50.0% |
Listing Count | 4 | -70.0% |
| Listings as % of Homes | 3.4% | -70.0% |
Days on Market | 24 | -28.0% |
Demographics — New Vernon, NJ
As of the latest ACS Survey released in 2023, New Vernon, NJ has a population of 330, which has decreased by -49.5% over the past 5 years. New Vernon, NJ is a less popular place for families, as children make up 10.6% of the population. The area has a highly educated workforce, with 52.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 330 | -49.5% |
% Under 18 | 10.6% | -17.8% |
% Seniors | 12.7% | -60.7% |
% WFH | 14.8% | 393.3% |
% w/ College Degree | 52.0% | -21.7% |
As of the latest ACS Survey released in 2023, New Vernon, NJ is a predominantly white area, with 82.1% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in New Vernon, NJ is hispanic, making up 17.9% of the population. Foreign-born residents account for 3.6% of the population in New Vernon, NJ, and this percentage has decreased by 47.8% 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 | 82.1% | -2.0% |
% Black | 0.0% | N/A |
% Hispanic | 17.9% | 26.1% |
% Asian | 0.0% | N/A |
% Foreign Born | 3.6% | -47.8% |
Mortgage and Risk — New Vernon, NJ
New Vernon, NJ lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — New Vernon, NJ
New Vernon, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,120 |
| 2 Bedroom | N/A | N/A | $2,560 |
| 3 Bedroom | N/A | N/A | $3,220 |
| 4 Bedroom | N/A | N/A | $3,670 |
Affordability — New Vernon, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 15.6 |
| Median Home Price | $1,956,000 |
| Median Household Income | $111,000 |