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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Monmouth Junction, NJ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Monmouth Junction, NJ Housing Market Trends

With 8,895 people, 3,633 houses or apartments, and a median cost of homes of $553,632, real estate costs in Monmouth Junction are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Monmouth Junction, accounting for 39.76% of the town's housing units. Other types of housing that are prevalent in Monmouth Junction include large apartment complexes or high rise apartments ( 33.69%), row houses and other attached homes ( 21.19%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.37%).

People in Monmouth Junction primarily live in small (one, two or no bedroom) single-family detached homes. Monmouth Junction has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Monmouth Junction built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Monmouth Junction built between 2000 and later ( 19.30%). A lesser amount of the housing stock also hails from before 1939 ( 3.33%). There's also some housing in Monmouth Junction built between 1940-1969 ( 3.31%).

Monmouth Junction Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Monmouth Junction, where house values have increased just 46.92%, which is annualized rate of 3.92%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Monmouth Junction's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Monmouth Junction's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.

Relative to New Jersey, our data show that Monmouth Junction's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$553,632

Monmouth Junction, NJ Home Prices
> $1,203,000
$902,001 - $1,203,000
$602,001 - $902,000
$481,001 - $602,000
$361,001 - $481,000
$241,001 - $361,000
$120,001 - $241,000
$60,001 - $120,000
$0 - $60,000
2.9%
2.9%
9.1%
9.1%
22.6%
22.6%
20.7%
20.7%
21.8%
21.8%
15.6%
15.6%
2.8%
2.8%
0.8%
0.8%
3.7%
3.7%
0% 100.0%
% of Homes
Average

for New jersey

Very High

for nation

Number of Homes And Apartments:

3,633

Monmouth Junction Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,280 / per month

Homeownership Rate

Owners
Renters
63.5%
63.5%
36.5%
36.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.5%
1.5%
98.5%
98.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.3%
19.3%
74.1%
74.1%
3.3%
3.3%
3.3%
3.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
39.8%
39.8%
21.2%
21.2%
5.4%
5.4%
33.7%
33.7%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
12.7%
12.7%
34.6%
34.6%
23.9%
23.9%
23.8%
23.8%
3.0%
3.0%
0% 100.0%
% of Homes