Springfield Township, NJ—08041
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Springfield Township, NJ
As of Oct '25, the median home price in Springfield Township, NJ is $539,000, with a year-over-year change of 6.0%. This indicates that home prices in Springfield Township, NJ are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $539,000 | 6.0% |
| Single Family | $539,000 | 5.5% |
| 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 — Springfield Township, NJ
Springfield Township, 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 — Springfield Township, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Springfield Township, NJ is 136. This is a decrease of -8.0% 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 | $1,200,000 | -17.0% |
Listing Count | 4 | 75.0% |
| Listings as % of Homes | 0.5% | 75.0% |
Days on Market | 136 | -8.0% |
Demographics — Springfield Township, NJ
As of the latest ACS Survey released in 2023, Springfield Township, NJ has a population of 788, which has decreased by -19.4% over the past 5 years. Springfield Township, NJ is a less popular place for families, as children make up 12.1% of the population. The area has a moderately educated workforce, with 41.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 788 | -19.4% |
% Under 18 | 12.1% | -53.6% |
% Seniors | 25.3% | 66.4% |
% WFH | 10.9% | 275.9% |
% w/ College Degree | 41.6% | 47.0% |
As of the latest ACS Survey released in 2023, Springfield Township, NJ is a predominantly white area, with 86.3% of the population identifying as white. The white population has grown by 14.9% in the last 5 years. The second most common race or ethnicity in Springfield Township, NJ is black, making up 6.0% of the population. Foreign-born residents account for 4.3% of the population in Springfield Township, NJ, and this percentage has decreased by 29.5% 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 | 86.3% | 14.9% |
% Black | 6.0% | -18.9% |
% Hispanic | 1.4% | -88.7% |
% Asian | 3.9% | ∞% |
% Foreign Born | 4.3% | -29.5% |
Mortgage and Risk — Springfield Township, NJ
According to HUD data as of 2023, there were 57 mortgage originations in Springfield Township, NJ, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Springfield Township, NJ. Investor activity is low, as 2.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 57 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Springfield Township, NJ
Springfield Township, 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 | $1,560 |
| 2 Bedroom | N/A | N/A | $1,860 |
| 3 Bedroom | N/A | N/A | $2,240 |
| 4 Bedroom | N/A | N/A | $2,540 |
Affordability — Springfield Township, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $539,000 |
| Median Household Income | $136,000 |