Cranbury Township, NJ—08512
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cranbury Township, NJ
As of Oct '25, the median home price in Cranbury Township, NJ is $746,000, with a year-over-year change of 3.1%. This indicates that home prices in Cranbury Township, NJ are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $746,000 | 3.1% |
| Single Family | $809,000 | 2.8% |
| Condos | $303,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $339,000 | -3.4% |
3 Bed | $712,000 | 2.7% |
4 Bed | $963,000 | 3.0% |
| 5 Bed | $1,335,000 | 5.6% |
% of Housing Stock
Rental Trends — Cranbury Township, NJ
As of July '25, Rentcast reports the average rent in Cranbury Township, NJ is $3,140, with a year-over-year rent change of -20.1%. Per bedroom, the median rent as of July '25 in Cranbury Township, NJ is 1-bedrooms: $1,730, 2-bedrooms: $2,360, 3-bedrooms: $3,690, 4-bedrooms: $8,250. The most common rental property sizes in Cranbury Township, NJ are 2-bedroom and 1-bedroom, accounting for 55.0% and 27.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $3,140 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,700 | $1,730 |
| 2 Bed Rent | $2,300 | $2,360 |
| 3 Bed Rent | $3,900 | $3,690 |
| 4 Bed Rent | $8,250 | $8,250 |
% of Rental Stock
Property Listings — Cranbury Township, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Cranbury Township, NJ is 63. This is a increase of 20.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $675,000 | 0.0% |
Listing Count | 46 | 53.0% |
| Listings as % of Homes | 0.2% | 53.0% |
Days on Market | 63 | 20.0% |
Demographics — Cranbury Township, NJ
As of the latest ACS Survey released in 2023, Cranbury Township, NJ has a population of 12,500, which has increased by 12.9% over the past 5 years. Cranbury Township, NJ is a moderately popular place for families, as children make up 17.1% of the population. The area has a highly educated workforce, with 55.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,500 | 12.9% |
% Under 18 | 17.1% | -26.0% |
% Seniors | 22.4% | 37.4% |
% WFH | 22.8% | 132.7% |
% w/ College Degree | 55.0% | -1.8% |
As of the latest ACS Survey released in 2023, Cranbury Township, NJ is a predominantly white area, with 47.2% of the population identifying as white. The white population has shrunk by 8.7% in the last 5 years. The second most common race or ethnicity in Cranbury Township, NJ is asian, making up 26.2% of the population. Foreign-born residents account for 34.4% of the population in Cranbury Township, NJ, and this percentage has increased by 13.9% 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 | 47.2% | -8.7% |
% Black | 10.0% | 92.3% |
% Hispanic | 14.9% | -28.0% |
% Asian | 26.2% | 28.4% |
% Foreign Born | 34.4% | 13.9% |
Mortgage and Risk — Cranbury Township, NJ
According to HUD data as of 2023, there were 113 mortgage originations in Cranbury Township, NJ, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Cranbury Township, NJ. Investor activity is low, as 1.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 113 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Cranbury Township, NJ
As of 2024, the percent of homes in Cranbury Township, NJ under the Section 8 program is 1.2%. 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. In Cranbury Township, NJ, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 26 |
Total Units Section 8 | 24 |
% Rentals under Section 8 | 1.2% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$70 | $1,700 | $1,630 |
| 2 Bedroom | -$250 | $2,300 | $2,050 |
| 3 Bedroom | -$1,410 | $3,900 | $2,490 |
| 4 Bedroom | -$5,520 | $8,250 | $2,730 |
Affordability — Cranbury Township, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $746,000 |
| Median Household Income | $115,000 |