Cedar Grove, NJ—07009
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cedar Grove, NJ
As of Oct '25, the median home price in Cedar Grove, NJ is $726,000, with a year-over-year change of 2.4%. This indicates that home prices in Cedar Grove, NJ are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $726,000 | 2.4% |
| Single Family | $733,000 | 1.7% |
| Condos | $657,000 | -3.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $626,000 | 4.5% |
3 Bed | $739,000 | 3.2% |
4 Bed | $844,000 | 2.8% |
| 5 Bed | $1,165,000 | 4.8% |
% of Housing Stock
Rental Trends — Cedar Grove, NJ
As of July '25, Rentcast reports the average rent in Cedar Grove, NJ is $3,010, with a year-over-year rent change of -19.3%. Per bedroom, the median rent as of July '25 in Cedar Grove, NJ is 1-bedrooms: $2,070, 2-bedrooms: $3,640, 3-bedrooms: $4,590. The most common rental property sizes in Cedar Grove, NJ are 1-bedroom and 2-bedroom, accounting for 55.4% and 25.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $3,010 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,000 | $2,070 |
| 2 Bed Rent | $2,880 | $3,640 |
| 3 Bed Rent | $4,000 | $4,590 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Cedar Grove, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Cedar Grove, NJ is 38. This is a increase of 14.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $781,000 | 11.0% |
Listing Count | 23 | 22.0% |
| Listings as % of Homes | 0.4% | 22.0% |
Days on Market | 38 | 14.0% |
Demographics — Cedar Grove, NJ
As of the latest ACS Survey released in 2023, Cedar Grove, NJ has a population of 13,300, which has increased by 6.3% over the past 5 years. Cedar Grove, NJ is a moderately popular place for families, as children make up 20.5% of the population. The area has a highly educated workforce, with 58.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,300 | 6.3% |
% Under 18 | 20.5% | 15.8% |
% Seniors | 24.9% | -2.7% |
% WFH | 22.2% | 382.6% |
% w/ College Degree | 58.4% | 17.7% |
As of the latest ACS Survey released in 2023, Cedar Grove, NJ is a predominantly white area, with 77.2% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Cedar Grove, NJ is asian, making up 7.9% of the population. Foreign-born residents account for 13.8% of the population in Cedar Grove, NJ, and this percentage has decreased by 3.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.2% | -5.3% |
% Black | 4.5% | -33.8% |
% Hispanic | 7.8% | 44.4% |
% Asian | 7.9% | 12.9% |
% Foreign Born | 13.8% | -3.5% |
Mortgage and Risk — Cedar Grove, NJ
According to HUD data as of 2023, there were 227 mortgage originations in Cedar Grove, NJ, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Cedar Grove, NJ. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 227 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Cedar Grove, NJ
Cedar Grove, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 152 |
Total Units Section 8 | 152 |
% Rentals under Section 8 | 18.4% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $2,000 | $1,980 |
| 2 Bedroom | -$480 | $2,880 | $2,400 |
| 3 Bedroom | -$980 | $4,000 | $3,020 |
| 4 Bedroom | N/A | N/A | $3,440 |
Affordability — Cedar Grove, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $726,000 |
| Median Household Income | $154,000 |