Florence, NJ—08518
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Florence, NJ
As of Oct '25, the median home price in Florence, NJ is $338,000, with a year-over-year change of 3.5%. This indicates that home prices in Florence, NJ are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $338,000 | 3.5% |
| Single Family | $379,000 | 2.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $131,000 | -3.0% |
2 Bed | $219,000 | 3.8% |
3 Bed | $363,000 | 2.8% |
4 Bed | $493,000 | 4.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Florence, NJ
As of July '25, Rentcast reports the average rent in Florence, NJ is $2,080, with a year-over-year rent change of -7.1%. Per bedroom, the median rent as of July '25 in Florence, NJ is 1-bedrooms: $1,520, 2-bedrooms: $2,190, 3-bedrooms: $2,670, 4-bedrooms: $2,600. The most common rental property sizes in Florence, NJ are 1-bedroom and 2-bedroom, accounting for 57.4% and 28.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,080 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,650 | $1,520 |
| 2 Bed Rent | $1,950 | $2,190 |
| 3 Bed Rent | $2,950 | $2,670 |
| 4 Bed Rent | $2,600 | $2,600 |
% of Rental Stock
Property Listings — Florence, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Florence, NJ is 45. This is a increase of 15.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $192,000 | 1.0% |
Listing Count | 41 | 15.0% |
| Listings as % of Homes | 1.1% | 15.0% |
Days on Market | 45 | 15.0% |
Demographics — Florence, NJ
As of the latest ACS Survey released in 2023, Florence, NJ has a population of 5,830, which has increased by 7.7% over the past 5 years. Florence, NJ is a popular place for families, as children make up 26.0% of the population. The area has a poorly educated workforce, with 23.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,830 | 7.7% |
% Under 18 | 26.0% | 27.5% |
% Seniors | 16.2% | -6.9% |
% WFH | 8.0% | 566.7% |
% w/ College Degree | 23.7% | -11.6% |
As of the latest ACS Survey released in 2023, Florence, NJ is a predominantly white area, with 66.0% 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 Florence, NJ is hispanic, making up 13.2% of the population. Foreign-born residents account for 12.9% of the population in Florence, NJ, and this percentage has increased by 25.2% 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 | 66.0% | -4.3% |
% Black | 6.8% | -54.7% |
% Hispanic | 13.2% | 230.0% |
% Asian | 7.7% | -3.7% |
% Foreign Born | 12.9% | 25.2% |
Mortgage and Risk — Florence, NJ
According to HUD data as of 2023, there were 82 mortgage originations in Florence, NJ, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Florence, NJ. Investor activity is low, as 6.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 82 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Florence, NJ
As of 2024, the percent of homes in Florence, NJ under the Section 8 program is 1.8%. 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 Florence, 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 | 60 |
Total Units Section 8 | 10 |
% Rentals under Section 8 | 1.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$290 | $1,650 | $1,360 |
| 2 Bedroom | -$330 | $1,950 | $1,620 |
| 3 Bedroom | -$1,000 | $2,950 | $1,950 |
| 4 Bedroom | -$380 | $2,600 | $2,220 |
Affordability — Florence, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $338,000 |
| Median Household Income | $102,000 |