Short Hills, NJ—07078
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Short Hills, NJ
As of Oct '25, the median home price in Short Hills, NJ is $2,194,000, with a year-over-year change of 4.8%. This indicates that home prices in Short Hills, NJ are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $2,194,000 | 4.8% |
| Single Family | $2,204,000 | 5.1% |
| 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 | $1,490,000 | 5.8% |
4 Bed | $1,926,000 | 5.6% |
| 5 Bed | $2,823,000 | 4.2% |
% of Housing Stock
Rental Trends — Short Hills, NJ
As of July '25, Rentcast reports the average rent in Short Hills, NJ is $4,880, with a year-over-year rent change of -14.2%. Per bedroom, the median rent as of July '25 in Short Hills, NJ is 1-bedrooms: $2,350, 2-bedrooms: $3,200, 4-bedrooms: $7,300. The most common rental property sizes in Short Hills, NJ are 3-bedroom and 2-bedroom, accounting for 34.6% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,260 | $4,880 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,200 | $2,350 |
| 2 Bed Rent | $3,200 | $3,200 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $6,900 | $7,300 |
% of Rental Stock
Property Listings — Short Hills, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Short Hills, NJ is 34. This is a decrease of -8.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $3,620,000 | 6.0% |
Listing Count | 45 | -1.0% |
| Listings as % of Homes | 0.4% | -1.0% |
Days on Market | 34 | -8.0% |
Demographics — Short Hills, NJ
As of the latest ACS Survey released in 2023, Short Hills, NJ has a population of 14,200, which has increased by 8.3% over the past 5 years. Short Hills, NJ is a popular place for families, as children make up 32.1% of the population. The area has a highly educated workforce, with 90.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 36.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,200 | 8.3% |
% Under 18 | 32.1% | -4.5% |
% Seniors | 13.0% | 2.4% |
% WFH | 36.4% | 180.0% |
% w/ College Degree | 90.1% | 0.9% |
As of the latest ACS Survey released in 2023, Short Hills, NJ is a predominantly white area, with 50.9% of the population identifying as white. The white population has shrunk by 26.0% in the last 5 years. The second most common race or ethnicity in Short Hills, NJ is asian, making up 38.5% of the population. Foreign-born residents account for 30.7% of the population in Short Hills, NJ, and this percentage has increased by 46.2% 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 | 50.9% | -26.0% |
% Black | 2.0% | 566.7% |
% Hispanic | 4.1% | 7.9% |
% Asian | 38.5% | 63.8% |
% Foreign Born | 30.7% | 46.2% |
Mortgage and Risk — Short Hills, NJ
According to HUD data as of 2023, there were 259 mortgage originations in Short Hills, NJ, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Short Hills, NJ. Investor activity is low, as 0.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 259 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Short Hills, NJ
Short Hills, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $230 | $2,200 | $2,430 |
| 2 Bedroom | -$260 | $3,200 | $2,940 |
| 3 Bedroom | N/A | N/A | $3,700 |
| 4 Bedroom | -$2,690 | $6,900 | $4,210 |
Affordability — Short Hills, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.1 |
| Median Home Price | $2,194,000 |
| Median Household Income | $250,000 |