Skillman, NJ—08558
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Skillman, NJ
As of Oct '25, the median home price in Skillman, NJ is $1,018,000, with a year-over-year change of 0.9%. This indicates that home prices in Skillman, NJ are flat. 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 | $1,018,000 | 0.9% |
| Single Family | $1,028,000 | 0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $801,000 | 0.3% |
4 Bed | $1,120,000 | 2.7% |
| 5 Bed | $1,536,000 | 4.8% |
% of Housing Stock
Rental Trends — Skillman, NJ
As of July '25, Rentcast reports the average rent in Skillman, NJ is $5,200, with a year-over-year rent change of 6.3%. Per bedroom, the median rent as of July '25 in Skillman, NJ is 1-bedrooms: $2,500, 3-bedrooms: $4,300, 4-bedrooms: $5,700. The most common rental property sizes in Skillman, NJ are 2-bedroom and 1-bedroom, accounting for 40.5% and 27.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,300 | $5,200 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,500 | $2,500 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $4,300 | $4,300 |
| 4 Bed Rent | $5,800 | $5,700 |
% of Rental Stock
Property Listings — Skillman, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Skillman, NJ is 36. This is a decrease of -37.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $854,000 | 6.0% |
Listing Count | 27 | 10.0% |
| Listings as % of Homes | 0.7% | 10.0% |
Days on Market | 36 | -37.0% |
Demographics — Skillman, NJ
As of the latest ACS Survey released in 2023, Skillman, NJ has a population of 7,240, which has decreased by -4.8% over the past 5 years. Skillman, NJ is a moderately popular place for families, as children make up 22.7% of the population. The area has a highly educated workforce, with 78.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,240 | -4.8% |
% Under 18 | 22.7% | -17.8% |
% Seniors | 19.3% | -4.5% |
% WFH | 27.7% | 151.8% |
% w/ College Degree | 78.3% | 3.0% |
As of the latest ACS Survey released in 2023, Skillman, NJ is a predominantly white area, with 57.0% of the population identifying as white. The white population has shrunk by 20.6% in the last 5 years. The second most common race or ethnicity in Skillman, NJ is asian, making up 26.2% of the population. Foreign-born residents account for 25.8% of the population in Skillman, NJ, and this percentage has increased by 21.1% 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 | 57.0% | -20.6% |
% Black | 7.0% | 70.7% |
% Hispanic | 5.7% | 11.8% |
% Asian | 26.2% | 43.2% |
% Foreign Born | 25.8% | 21.1% |
Mortgage and Risk — Skillman, NJ
According to HUD data as of 2023, there were 134 mortgage originations in Skillman, NJ, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Skillman, NJ. Investor activity is low, as 0.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 134 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Skillman, NJ
Skillman, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 26 |
Total Units Section 8 | 26 |
% Rentals under Section 8 | 7.2% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$690 | $2,500 | $1,810 |
| 2 Bedroom | N/A | N/A | $2,280 |
| 3 Bedroom | -$1,550 | $4,300 | $2,750 |
| 4 Bedroom | -$2,780 | $5,800 | $3,020 |
Affordability — Skillman, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $1,018,000 |
| Median Household Income | $241,000 |