Hillsborough Township, NJ—08844
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hillsborough Township, NJ
As of Oct '25, the median home price in Hillsborough Township, NJ is $672,000, with a year-over-year change of 1.1%. This indicates that home prices in Hillsborough 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 | $672,000 | 1.1% |
| Single Family | $747,000 | 0.5% |
| Condos | $385,000 | 1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $265,000 | 4.7% |
2 Bed | $427,000 | 4.1% |
3 Bed | $607,000 | 2.5% |
4 Bed | $850,000 | 2.7% |
| 5 Bed | $1,077,000 | 3.6% |
% of Housing Stock
Rental Trends — Hillsborough Township, NJ
As of July '25, Rentcast reports the average rent in Hillsborough Township, NJ is $2,900, with a year-over-year rent change of 6.6%. Per bedroom, the median rent as of July '25 in Hillsborough Township, NJ is 1-bedrooms: $2,180, 2-bedrooms: $2,780, 3-bedrooms: $3,670, 4-bedrooms: $4,530. The most common rental property sizes in Hillsborough Township, NJ are 2-bedroom and 1-bedroom, accounting for 36.9% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,750 | $2,900 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,180 | $2,180 |
| 2 Bed Rent | $2,800 | $2,780 |
| 3 Bed Rent | $3,500 | $3,670 |
| 4 Bed Rent | $4,800 | $4,530 |
% of Rental Stock
Property Listings — Hillsborough Township, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Hillsborough Township, NJ is 26. This is a decrease of -19.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $600,000 | -17.0% |
Listing Count | 103 | 4.0% |
| Listings as % of Homes | 0.3% | 4.0% |
Days on Market | 26 | -19.0% |
Demographics — Hillsborough Township, NJ
As of the latest ACS Survey released in 2023, Hillsborough Township, NJ has a population of 43,700, which has increased by 10.6% over the past 5 years. Hillsborough Township, NJ is a moderately popular place for families, as children make up 21.5% of the population. The area has a highly educated workforce, with 61.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,700 | 10.6% |
% Under 18 | 21.5% | -8.1% |
% Seniors | 14.8% | 15.6% |
% WFH | 22.5% | 246.2% |
% w/ College Degree | 61.6% | 4.1% |
As of the latest ACS Survey released in 2023, Hillsborough Township, NJ is a predominantly white area, with 60.8% of the population identifying as white. The white population has shrunk by 10.5% in the last 5 years. The second most common race or ethnicity in Hillsborough Township, NJ is asian, making up 21.3% of the population. Foreign-born residents account for 21.6% of the population in Hillsborough Township, NJ, and this percentage has increased by 9.6% 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 | 60.8% | -10.5% |
% Black | 3.3% | -40.0% |
% Hispanic | 10.9% | 58.0% |
% Asian | 21.3% | 22.4% |
% Foreign Born | 21.6% | 9.6% |
Mortgage and Risk — Hillsborough Township, NJ
According to HUD data as of 2023, there were 656 mortgage originations in Hillsborough Township, NJ, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Hillsborough Township, NJ. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 656 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Hillsborough Township, NJ
As of 2024, the percent of homes in Hillsborough Township, NJ under the Section 8 program is 2.4%. 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 Hillsborough 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 | 98 |
Total Units Section 8 | 95 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $2,180 | $2,050 |
| 2 Bedroom | -$220 | $2,800 | $2,580 |
| 3 Bedroom | -$390 | $3,500 | $3,110 |
| 4 Bedroom | -$1,380 | $4,800 | $3,420 |
Affordability — Hillsborough Township, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $672,000 |
| Median Household Income | $154,000 |