Elmer, NJ—08318
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elmer, NJ
As of Oct '25, the median home price in Elmer, NJ is $343,000, with a year-over-year change of 2.2%. This indicates that home prices in Elmer, NJ are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $343,000 | 2.2% |
| Single Family | $343,000 | 1.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $255,000 | 2.8% |
3 Bed | $348,000 | 4.2% |
4 Bed | $448,000 | 4.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elmer, NJ
As of July '25, Rentcast reports the average rent in Elmer, NJ is $2,110, with a year-over-year rent change of -7.9%. Per bedroom, the median rent as of July '25 in Elmer, NJ is 2-bedrooms: $2,000, 3-bedrooms: $2,800, 4-bedrooms: $2,080. The most common rental property sizes in Elmer, NJ are 3-bedroom and 2-bedroom, accounting for 49.3% and 26.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,050 | $2,110 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,000 | $2,000 |
| 3 Bed Rent | $2,800 | $2,800 |
| 4 Bed Rent | $2,050 | $2,080 |
% of Rental Stock
Property Listings — Elmer, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Elmer, NJ is 39. This is a decrease of -26.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $339,000 | -26.0% |
Listing Count | 38 | 1.0% |
| Listings as % of Homes | 0.7% | 1.0% |
Days on Market | 39 | -26.0% |
Demographics — Elmer, NJ
As of the latest ACS Survey released in 2023, Elmer, NJ has a population of 12,100, which has remained stable by -0.6% over the past 5 years. Elmer, NJ is a moderately popular place for families, as children make up 20.6% of the population. The area has a moderately educated workforce, with 25.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,100 | -0.6% |
% Under 18 | 20.6% | -0.5% |
% Seniors | 17.3% | 3.6% |
% WFH | 6.7% | 76.3% |
% w/ College Degree | 25.7% | -9.8% |
As of the latest ACS Survey released in 2023, Elmer, NJ is a predominantly white area, with 78.8% of the population identifying as white. The white population has shrunk by 8.8% in the last 5 years. The second most common race or ethnicity in Elmer, NJ is hispanic, making up 8.6% of the population. Foreign-born residents account for 1.1% of the population in Elmer, NJ, and this percentage has decreased by 67.6% 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 | 78.8% | -8.8% |
% Black | 7.3% | 28.1% |
% Hispanic | 8.6% | 83.0% |
% Asian | 0.9% | 80.0% |
% Foreign Born | 1.1% | -67.6% |
Mortgage and Risk — Elmer, NJ
According to HUD data as of 2023, there were 184 mortgage originations in Elmer, NJ, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Elmer, NJ. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 184 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Elmer, NJ
Elmer, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 12 |
Total Units Section 8 | 12 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,440 |
| 2 Bedroom | -$280 | $2,000 | $1,720 |
| 3 Bedroom | -$730 | $2,800 | $2,070 |
| 4 Bedroom | $300 | $2,050 | $2,350 |
Affordability — Elmer, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $343,000 |
| Median Household Income | $87,600 |