Cherry Hill, NJ—08002
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cherry Hill, NJ
As of Oct '25, the median home price in Cherry Hill, NJ is $419,000, with a year-over-year change of 4.2%. This indicates that home prices in Cherry Hill, NJ are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $419,000 | 4.2% |
| Single Family | $422,000 | 4.5% |
| Condos | $369,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $334,000 | 4.4% |
3 Bed | $414,000 | 4.5% |
4 Bed | $483,000 | 4.5% |
| 5 Bed | $537,000 | 4.9% |
% of Housing Stock
Rental Trends — Cherry Hill, NJ
As of July '25, Rentcast reports the average rent in Cherry Hill, NJ is $2,730, with a year-over-year rent change of 6.6%. Per bedroom, the median rent as of July '25 in Cherry Hill, NJ is studios: $1,950, 1-bedrooms: $2,070, 2-bedrooms: $2,730, 3-bedrooms: $3,330, 4-bedrooms: $3,740. The most common rental property sizes in Cherry Hill, NJ are 2-bedroom and 1-bedroom, accounting for 43.1% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,620 | $2,730 |
| Studio Rent | $1,880 | $1,950 |
| 1 Bed Rent | $1,750 | $2,070 |
| 2 Bed Rent | $2,850 | $2,730 |
| 3 Bed Rent | $3,300 | $3,330 |
| 4 Bed Rent | $3,750 | $3,740 |
% of Rental Stock
Property Listings — Cherry Hill, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Cherry Hill, NJ is 33. This is a increase of 11.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $447,000 | 9.0% |
Listing Count | 63 | 0.0% |
| Listings as % of Homes | 0.4% | 0.0% |
Days on Market | 33 | 11.0% |
Demographics — Cherry Hill, NJ
As of the latest ACS Survey released in 2023, Cherry Hill, NJ has a population of 23,600, which has increased by 4.1% over the past 5 years. Cherry Hill, NJ is a moderately popular place for families, as children make up 20.6% of the population. The area has a highly educated workforce, with 45.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,600 | 4.1% |
% Under 18 | 20.6% | -1.9% |
% Seniors | 19.0% | 1.6% |
% WFH | 18.4% | 607.7% |
% w/ College Degree | 45.8% | 12.3% |
As of the latest ACS Survey released in 2023, Cherry Hill, NJ is a predominantly white area, with 63.9% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Cherry Hill, NJ is asian, making up 11.9% of the population. Foreign-born residents account for 17.9% of the population in Cherry Hill, NJ, and this percentage has decreased by 0.6% 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 | 63.9% | -4.3% |
% Black | 9.4% | 36.2% |
% Hispanic | 11.7% | 34.5% |
% Asian | 11.9% | -16.8% |
% Foreign Born | 17.9% | -0.6% |
Mortgage and Risk — Cherry Hill, NJ
According to HUD data as of 2023, there were 414 mortgage originations in Cherry Hill, NJ, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Cherry Hill, NJ. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 414 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Cherry Hill, NJ
As of 2024, the percent of homes in Cherry Hill, NJ under the Section 8 program is 7.9%. 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 units appear to be good home sizes to consider for Section 8 housing in Cherry Hill, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 327 |
Total Units Section 8 | 253 |
% Rentals under Section 8 | 7.9% |
% Occupied Section 8 | 99.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $190 | $1,750 | $1,940 |
| 2 Bedroom | -$540 | $2,850 | $2,310 |
| 3 Bedroom | -$520 | $3,300 | $2,780 |
| 4 Bedroom | -$590 | $3,750 | $3,160 |
Affordability — Cherry Hill, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $419,000 |
| Median Household Income | $106,000 |