Cherry Hill, NJ—08003
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 $556,000, with a year-over-year change of 3.4%. This indicates that home prices in Cherry Hill, NJ are increasing. According to Zillow, the 1-year price projection is 2.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $556,000 | 3.4% |
| Single Family | $575,000 | 3.8% |
| Condos | $357,000 | 15.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $276,000 | 0.7% |
3 Bed | $462,000 | 3.6% |
4 Bed | $618,000 | 3.9% |
| 5 Bed | $706,000 | 3.2% |
% of Housing Stock
Rental Trends — Cherry Hill, NJ
As of July '25, Rentcast reports the average rent in Cherry Hill, NJ is $3,210, with a year-over-year rent change of 10.3%. Per bedroom, the median rent as of July '25 in Cherry Hill, NJ is 1-bedrooms: $2,280, 2-bedrooms: $2,380, 3-bedrooms: $3,420, 4-bedrooms: $3,550. The most common rental property sizes in Cherry Hill, NJ are 1-bedroom and 3-bedroom, accounting for 28.5% and 22.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,210 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,280 | $2,280 |
| 2 Bed Rent | $2,250 | $2,380 |
| 3 Bed Rent | $3,250 | $3,420 |
| 4 Bed Rent | $3,500 | $3,550 |
% 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 41. This is a decrease of -20.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $558,000 | -7.0% |
Listing Count | 98 | 22.0% |
| Listings as % of Homes | 0.4% | 22.0% |
Days on Market | 41 | -20.0% |
Demographics — Cherry Hill, NJ
As of the latest ACS Survey released in 2023, Cherry Hill, NJ has a population of 31,900, which has increased by 7.0% over the past 5 years. Cherry Hill, NJ is a moderately popular place for families, as children make up 22.4% of the population. The area has a highly educated workforce, with 67.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,900 | 7.0% |
% Under 18 | 22.4% | -0.9% |
% Seniors | 18.2% | -3.2% |
% WFH | 24.1% | 217.1% |
% w/ College Degree | 67.0% | 4.0% |
As of the latest ACS Survey released in 2023, Cherry Hill, NJ is a predominantly white area, with 68.4% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Cherry Hill, NJ is asian, making up 17.4% of the population. Foreign-born residents account for 18.5% of the population in Cherry Hill, NJ, and this percentage has increased by 6.9% 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 | 68.4% | -3.8% |
% Black | 5.1% | -21.5% |
% Hispanic | 6.1% | 52.5% |
% Asian | 17.4% | 8.7% |
% Foreign Born | 18.5% | 6.9% |
Mortgage and Risk — Cherry Hill, NJ
According to HUD data as of 2023, there were 564 mortgage originations in Cherry Hill, NJ, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Cherry Hill, 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 | 564 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
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 10.9%. 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 4-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 1-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 304 |
Total Units Section 8 | 204 |
% Rentals under Section 8 | 10.9% |
% Occupied Section 8 | 99.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $2,280 | $2,180 |
| 2 Bedroom | $350 | $2,250 | $2,600 |
| 3 Bedroom | -$120 | $3,250 | $3,130 |
| 4 Bedroom | $60 | $3,500 | $3,560 |
Affordability — Cherry Hill, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $556,000 |
| Median Household Income | $156,000 |