Phillipsburg, NJ—08865
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Phillipsburg, NJ
As of Oct '25, the median home price in Phillipsburg, NJ is $332,000, with a year-over-year change of 1.0%. This indicates that home prices in Phillipsburg, NJ are flat. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $332,000 | 1.0% |
| Single Family | $335,000 | 1.2% |
| Condos | $266,000 | -0.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $219,000 | 0.5% |
2 Bed | $292,000 | 3.2% |
3 Bed | $330,000 | 3.8% |
4 Bed | $443,000 | 3.5% |
| 5 Bed | $437,000 | 3.6% |
% of Housing Stock
Rental Trends — Phillipsburg, NJ
As of July '25, Rentcast reports the average rent in Phillipsburg, NJ is $1,850, with a year-over-year rent change of 3.4%. Per bedroom, the median rent as of July '25 in Phillipsburg, NJ is studios: $1,320, 1-bedrooms: $1,510, 2-bedrooms: $1,930, 3-bedrooms: $2,110, 4-bedrooms: $2,320. The most common rental property sizes in Phillipsburg, NJ are 1-bedroom and 2-bedroom, accounting for 36.9% and 30.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,850 |
| Studio Rent | $1,320 | $1,320 |
| 1 Bed Rent | $1,480 | $1,510 |
| 2 Bed Rent | $1,900 | $1,930 |
| 3 Bed Rent | $2,000 | $2,110 |
| 4 Bed Rent | $2,200 | $2,320 |
% of Rental Stock
Property Listings — Phillipsburg, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Phillipsburg, NJ is 44. This is a decrease of -13.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $324,000 | -3.0% |
Listing Count | 114 | 25.0% |
| Listings as % of Homes | 0.6% | 25.0% |
Days on Market | 44 | -13.0% |
Demographics — Phillipsburg, NJ
As of the latest ACS Survey released in 2023, Phillipsburg, NJ has a population of 31,100, which has increased by 7.7% over the past 5 years. Phillipsburg, NJ is a moderately popular place for families, as children make up 18.0% of the population. The area has a moderately educated workforce, with 29.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,100 | 7.7% |
% Under 18 | 18.0% | -15.5% |
% Seniors | 18.6% | 8.8% |
% WFH | 7.6% | 105.4% |
% w/ College Degree | 29.3% | 21.1% |
As of the latest ACS Survey released in 2023, Phillipsburg, NJ is a predominantly white area, with 69.9% of the population identifying as white. The white population has shrunk by 9.7% in the last 5 years. The second most common race or ethnicity in Phillipsburg, NJ is hispanic, making up 12.9% of the population. Foreign-born residents account for 9.9% of the population in Phillipsburg, NJ, and this percentage has increased by 7.6% 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 | 69.9% | -9.7% |
% Black | 10.3% | 28.7% |
% Hispanic | 12.9% | 26.5% |
% Asian | 2.9% | 31.8% |
% Foreign Born | 9.9% | 7.6% |
Mortgage and Risk — Phillipsburg, NJ
According to HUD data as of 2023, there were 604 mortgage originations in Phillipsburg, NJ, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Phillipsburg, NJ. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 604 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Phillipsburg, NJ
As of 2024, the percent of homes in Phillipsburg, NJ under the Section 8 program is 12.0%. 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. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Phillipsburg, NJ, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,088 |
Total Units Section 8 | 500 |
% Rentals under Section 8 | 12.0% |
% Occupied Section 8 | 98.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $1,480 | $1,350 |
| 2 Bedroom | -$270 | $1,900 | $1,630 |
| 3 Bedroom | $90 | $2,000 | $2,090 |
| 4 Bedroom | $240 | $2,200 | $2,440 |
Affordability — Phillipsburg, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $332,000 |
| Median Household Income | $78,500 |