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Basking Ridge, NJ—07920

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$887,000
3.1% YoY Growth
Household Income
$185,000
26.5% YoY Growth
Days on Market
43
14.0% Shorter YoY
Home Price Forecast
2.0%
Median Rent
$3,600
4.9% YoY Growth
1-Bed Rent
$2,350
8.6% YoY Growth
2-Bed Rent
$2,850
4.5% YoY Growth
3-Bed Rent
$4,600
4.0% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Basking Ridge, NJ

As of Dec '25, the median home price in Basking Ridge, NJ is $887,000, with a year-over-year change of 3.1%. This indicates that home prices in Basking Ridge, NJ are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$887,0003.1%
Single Family $1,045,0003.6%
Condos $435,0004.8%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $337,000
    4.3%
    2 Bed
    		$464,0005.0%
    3 Bed
    		$800,0003.2%
    4 Bed
    		$1,184,0004.9%
    5 Bed $1,573,3115.4%
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    % of Housing Stock

    Studio
    0.5%
    1 Bedroom
    10.6%
    2 Bedrooms
    22.4%
    3 Bedrooms
    23.5%
    4 Bedrooms
    30.4%
    5+ Bedrooms
    12.6%

    Rental Trends — Basking Ridge, NJ

    As of July '25, Rentcast reports the average rent in Basking Ridge, NJ is $3,870, with a year-over-year rent change of -4.9%. Per bedroom, the median rent as of July '25 in Basking Ridge, NJ is 1-bedrooms: $2,390, 2-bedrooms: $2,940, 3-bedrooms: $4,420, 4-bedrooms: $5,810. The most common rental property sizes in Basking Ridge, NJ are 2-bedroom and 1-bedroom, accounting for 45.0% and 33.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$3,600$3,870
    Studio Rent N/AN/A
    1 Bed Rent $2,350$2,390
    2 Bed Rent $2,850$2,940
    3 Bed Rent $4,600$4,420
    4 Bed Rent $6,000$5,810
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    % of Rental Stock

    Studio
    0.6%
    1 Bedroom
    33.4%
    2 Bedrooms
    45.0%
    3 Bedrooms
    14.0%
    4 Bedrooms
    7.0%

    Property Listings — Basking Ridge, NJ

    As of Dec '25, Realtor.com reports that the median days on market for a home in Basking Ridge, NJ is 29. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$491,000-27.0%
    Listing Count
    		51-5.0%
    Listings as % of Homes0.5%-5.0%
    Days on Market
    		43-14.0%
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    Demographics — Basking Ridge, NJ

    As of the latest ACS Survey released in 2023, Basking Ridge, NJ has a population of 28,400, which has increased by 5.1% over the past 5 years. Basking Ridge, NJ is a moderately popular place for families, as children make up 24.6% of the population. The area has a highly educated workforce, with 73.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.9% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		28,4005.1%
    % Under 18
    		24.6%-6.1%
    % Seniors
    		17.3%14.6%
    % WFH
    		25.9%172.6%
    % w/ College Degree
    		73.5%-1.6%
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    As of the latest ACS Survey released in 2023, Basking Ridge, NJ is a predominantly white area, with 65.6% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in Basking Ridge, NJ is asian, making up 23.7% of the population. Foreign-born residents account for 24.0% of the population in Basking Ridge, NJ, and this percentage has increased by 6.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		65.6%-8.4%
    % Black
    		1.2%-42.9%
    % Hispanic
    		5.6%12.0%
    % Asian
    		23.7%19.7%
    % Foreign Born
    		24.0%6.7%
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    Mortgage and Risk — Basking Ridge, NJ

    According to HUD data as of 2023, there were 418 mortgage originations in Basking Ridge, NJ, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Basking Ridge, NJ. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		418
    % Conventional Loans
    		98.0%
    % Government Loans
    		2.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		6.0%
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    Rentals and Section 8 — Basking Ridge, NJ

    As of 2024, the percent of homes in Basking Ridge, NJ under the Section 8 program is 20.6%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Basking Ridge, NJ, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		402
    Total Units Section 8
    		343
    % Rentals under Section 8
    		20.6%
    % Occupied Section 8
    		99.8%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$50$2,350$2,300
    2 Bedroom$40$2,850$2,890
    3 Bedroom-$1,110$4,600$3,490
    4 Bedroom-$2,160$6,000$3,840

    Affordability — Basking Ridge, NJ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.9
    Median Home Price$887,000
    Median Household Income$185,000

    Basking Ridge, NJ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Lyons

    07939

    Millington, NJ

    07946

    Bernardsville, NJ

    07924

    Stirling, NJ

    07980

    Warren Township, NJ

    07059

    Frequently Asked Questions