Monroe Township, NJ—08831
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Monroe Township, NJ
As of Oct '25, the median home price in Monroe Township, NJ is $638,000, with a year-over-year change of 2.1%. This indicates that home prices in Monroe Township, NJ are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $638,000 | 2.1% |
| Single Family | $712,000 | 1.3% |
| Condos | $378,000 | 3.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $266,000 | 9.0% |
2 Bed | $402,000 | 0.5% |
3 Bed | $646,000 | 1.7% |
4 Bed | $906,000 | 1.3% |
| 5 Bed | $1,114,000 | 1.5% |
% of Housing Stock
Rental Trends — Monroe Township, NJ
As of July '25, Rentcast reports the average rent in Monroe Township, NJ is $3,270, with a year-over-year rent change of 16.4%. Per bedroom, the median rent as of July '25 in Monroe Township, NJ is 1-bedrooms: $1,480, 2-bedrooms: $2,860, 3-bedrooms: $3,700, 4-bedrooms: $4,160. The most common rental property sizes in Monroe Township, NJ are 2-bedroom and 1-bedroom, accounting for 44.2% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,250 | $3,270 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,800 | $1,480 |
| 2 Bed Rent | $2,830 | $2,860 |
| 3 Bed Rent | $3,700 | $3,700 |
| 4 Bed Rent | $4,000 | $4,160 |
% of Rental Stock
Property Listings — Monroe Township, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Monroe Township, NJ is 39. This is a increase of 29.0% 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 | $497,000 | 9.0% |
Listing Count | 365 | 24.0% |
| Listings as % of Homes | 1.2% | 24.0% |
Days on Market | 39 | 29.0% |
Demographics — Monroe Township, NJ
As of the latest ACS Survey released in 2023, Monroe Township, NJ has a population of 54,600, which has increased by 8.8% over the past 5 years. Monroe Township, NJ is a moderately popular place for families, as children make up 17.6% of the population. The area has a highly educated workforce, with 51.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,600 | 8.8% |
% Under 18 | 17.6% | -7.9% |
% Seniors | 35.8% | 5.3% |
% WFH | 25.8% | 273.9% |
% w/ College Degree | 51.3% | 15.5% |
As of the latest ACS Survey released in 2023, Monroe Township, NJ is a predominantly white area, with 63.8% of the population identifying as white. The white population has shrunk by 8.1% in the last 5 years. The second most common race or ethnicity in Monroe Township, NJ is asian, making up 23.0% of the population. Foreign-born residents account for 25.0% of the population in Monroe Township, NJ, and this percentage has increased by 7.3% 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 | 63.8% | -8.1% |
% Black | 2.2% | -43.6% |
% Hispanic | 9.0% | 20.0% |
% Asian | 23.0% | 29.9% |
% Foreign Born | 25.0% | 7.3% |
Mortgage and Risk — Monroe Township, NJ
According to HUD data as of 2023, there were 1182 mortgage originations in Monroe Township, NJ, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Monroe Township, NJ. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,182 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Monroe Township, NJ
As of 2024, the percent of homes in Monroe Township, NJ under the Section 8 program is 2.0%. 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 Monroe 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 | 55 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $1,800 | $1,650 |
| 2 Bedroom | -$760 | $2,830 | $2,070 |
| 3 Bedroom | -$1,210 | $3,700 | $2,490 |
| 4 Bedroom | -$1,260 | $4,000 | $2,740 |
Affordability — Monroe Township, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $638,000 |
| Median Household Income | $109,000 |