Palisades Park, NJ—07650
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palisades Park, NJ
As of Oct '25, the median home price in Palisades Park, NJ is $945,000, with a year-over-year change of 5.7%. This indicates that home prices in Palisades Park, NJ are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $945,000 | 5.7% |
| Single Family | $989,000 | 4.5% |
| Condos | $905,000 | 7.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $632,000 | 3.3% |
3 Bed | $1,003,000 | 6.8% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Palisades Park, NJ
As of July '25, Rentcast reports the average rent in Palisades Park, NJ is $3,600, with a year-over-year rent change of 1.1%. Per bedroom, the median rent as of July '25 in Palisades Park, NJ is studios: $1,560, 1-bedrooms: $2,130, 2-bedrooms: $2,870, 3-bedrooms: $4,110, 4-bedrooms: $5,400. The most common rental property sizes in Palisades Park, NJ are 2-bedroom and 3-bedroom, accounting for 32.9% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,400 | $3,600 |
| Studio Rent | $1,600 | $1,560 |
| 1 Bed Rent | $2,000 | $2,130 |
| 2 Bed Rent | $2,700 | $2,870 |
| 3 Bed Rent | $3,950 | $4,110 |
| 4 Bed Rent | $5,300 | $5,400 |
% of Rental Stock
Property Listings — Palisades Park, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Palisades Park, NJ is 33. This is a decrease of -4.0% 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 7.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,090,000 | 9.0% |
Listing Count | 27 | -22.0% |
| Listings as % of Homes | 0.4% | -22.0% |
Days on Market | 33 | -4.0% |
Demographics — Palisades Park, NJ
As of the latest ACS Survey released in 2023, Palisades Park, NJ has a population of 20,200, which has decreased by -1.7% over the past 5 years. Palisades Park, NJ is a less popular place for families, as children make up 13.4% of the population. The area has a highly educated workforce, with 53.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,200 | -1.7% |
% Under 18 | 13.4% | -14.1% |
% Seniors | 18.5% | 32.1% |
% WFH | 9.9% | 160.5% |
% w/ College Degree | 53.7% | 21.2% |
As of the latest ACS Survey released in 2023, Palisades Park, NJ is a predominantly asian area, with 54.8% of the population identifying as asian. The asian population has shrunk by 7.7% in the last 5 years. The second most common race or ethnicity in Palisades Park, NJ is hispanic, making up 23.9% of the population. Foreign-born residents account for 60.1% of the population in Palisades Park, NJ, and this percentage has decreased by 5.8% 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 | 17.9% | -0.6% |
% Black | 3.1% | 181.8% |
% Hispanic | 23.9% | 18.3% |
% Asian | 54.8% | -7.7% |
% Foreign Born | 60.1% | -5.8% |
Mortgage and Risk — Palisades Park, NJ
According to HUD data as of 2023, there were 103 mortgage originations in Palisades Park, NJ, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Palisades Park, NJ. Investor activity is low, as 6.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 103 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Palisades Park, NJ
As of 2024, the percent of homes in Palisades Park, NJ under the Section 8 program is 3.6%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Palisades Park, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 173 |
Total Units Section 8 | 173 |
% Rentals under Section 8 | 3.6% |
% Occupied Section 8 | 95.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $2,000 | $2,020 |
| 2 Bedroom | -$380 | $2,700 | $2,320 |
| 3 Bedroom | -$1,090 | $3,950 | $2,860 |
| 4 Bedroom | -$1,690 | $5,300 | $3,610 |
Affordability — Palisades Park, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.9 |
| Median Home Price | $945,000 |
| Median Household Income | $101,000 |