Home Value Trail

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State

New Jersey

21 counties with an index · 6 metro and micro areas · 525 ZIP codes · 346 permit-issuing places · 9,548,215 residents (2025 est.)

FHFA quarterly index through 2026 Q2Annual index 1975–2025Permits through August 2026
FHFA all-transactions house price index for New Jersey, quarterly from 1975 to 2026 Q2, with the national index rebased to the same start and NBER recessions shadedRecession 1973–75Recession 1980Recession 1981–82Recession 1990–91Recession 2001Recession 2007–09Recession 202005001,0001,50019801990200020102020United States2026: 968
New Jersey (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. The line is FHFA's standard quarterly all-transactions index; the comparison table uses FHFA's annual state index from the same family. The index does not give a dollar value for any home.

New Jersey's FHFA house price index starts in 1975. Through 2025 it has risen +1261.4%; over the ten years to 2025 the rise was +87.7% (+6.5% a year), close to the national +85.0%.

The quarterly index through 2026 Q2 is +5.4% on a year earlier and +2.2% on the quarter; nationally +3.0% and +1.1%.

The index peaked in 2006, fell −22.9% to 2012 and regained the peak in 2021; the national index fell −21.3% over 2007–2012.

31,546 housing units were authorised in New Jersey in the 12 months to August 2026, 3.3 per 1,000 residents against 4.1 nationally; that is −6.2% on the previous 12 months. 21 counties, 6 metro and micro areas, 525 ZIP codes and 346 permit-issuing places in the state have their own pages.

+5.4%year to 2026 Q2, quarterly indexUS +3.0%
+6.2%1 year, 2024–2025US +2.8%
+62.9%5 yearsUS +47.0%
+87.7%10 years+6.5% a year annualised
+191.2%since 2000US +158.3%
31,546units permitted, 12 months3.3 per 1,000 residents · US 4.1

Same span, state and nation

Change in the FHFA indexNew JerseyUnited States
1 year (2024–2025)+6.2%+2.8%
5 years (2020–2025)+62.9%+47.0%
10 years (2015–2025)+87.7%+85.0%
20 years (2005–2025)+66.1%+79.1%
Since 2000+191.2%+158.3%
Since 1975+1261.4%+960.7%
10-year annualised+6.5%+6.3%
20-year annualised+2.6%+3.0%

Decade by decade

DecadeChangeUnited States
1980s (1980–1990)+130.0%+68.2%
1990s (1990–2000)+20.3%+33.9%
2000s (2000–2010)+59.3%+29.7%
2010s (2010–2020)+12.2%+35.5%
2020s so far (2020–2025)+62.9%+47.0%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1975 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1975 are not shown.

Peak-to-low declines

PeakLowDeclinePeak regained
20062012−22.9%2021
19891991−7.4%1998

Purchase-only index

FHFA also publishes a purchase-only index, built from sales prices alone (no refinance appraisals). It starts in 1991 and is drawn here on its own base.

FHFA purchase-only house price index for New Jersey, quarterly, with the national purchase-only index rebased to the same startRecession 1990–91Recession 2001Recession 2007–09Recession 202001002003004005001995200020052010201520202025United States, purchase-only2026: 447
New Jersey, purchase-only (100 = first year)United States, purchase-only, rebased to the same startNBER recession

Counties

Ranked by ten-year change in FHFA's annual county index to 2025. Permits are housing units authorised in the 12 months to August 2026.

County1 year10 yearsSince 2000Units, 12 monthsPer 1,000Index through
Cape May County+3.9%+118.1%+294.6%8098.72025
Hudson County+9.6%+106.8%+271.6%4,2195.72025
Ocean County+5.9%+106.1%+255.0%2,4123.62025
Camden County+5.8%+105.7%+206.4%8341.62025
Atlantic County+7.8%+104.6%+202.1%7042.52025
Cumberland County+6.2%+99.4%+176.9%1821.22025
Gloucester County+5.2%+95.8%+182.0%1,3264.22025
Monmouth County+6.2%+94.2%+220.1%2,6254.02025
Sussex County+6.6%+92.2%+156.9%1751.22025
Burlington County+5.7%+91.3%+184.7%1,7333.62025
Warren County+6.8%+88.9%+142.8%4243.82025
Middlesex County+6.1%+88.6%+206.1%1,4541.62025
Mercer County+5.7%+87.3%+174.9%9292.32025
Passaic County+6.8%+87.3%+170.9%6561.22025
Essex County+5.8%+87.1%+216.2%4,6675.22025
Union County+5.5%+83.7%+198.9%1,8783.12025
Salem County+4.6%+79.0%+148.7%821.22025
Bergen County+6.8%+73.7%+174.8%3,8183.92025
Somerset County+6.3%+72.5%+159.0%7532.12025
Morris County+5.9%+68.4%+149.1%1,5362.92025
Hunterdon County+6.3%+67.5%+122.8%3302.52025

Metro and micropolitan areas

Areas with any county in New Jersey; multi-state areas appear under each of their states.

AreaType1 year10 yearsYear to 2026 Q2Units, 12 months
Atlantic City-Hammonton, NJMetro+6.7%+108.1%+6.2%1,513
Vineland, NJMetro+6.2%+99.4%+7.6%182
Allentown-Bethlehem-Easton, PA-NJMetro+6.4%+92.7%+4.9%2,115
Trenton-Princeton, NJMetro+5.7%+87.3%+5.2%929
New York-Newark-Jersey City, NY-NJMetro+6.1%+82.9%—57,734
Philadelphia-Camden-Wilmington, PA-NJ-DE-MDMetro+4.7%+79.6%—14,628

Building permits

Housing units authorised in New Jersey by month, latest 60 months02,0004,0006,000Sep 2021: 2,483 units (1,109 single-family, 1,374 in multi-unit buildings)Sep 2021Oct 2021: 3,013 units (1,269 single-family, 1,744 in multi-unit buildings)Nov 2021: 3,278 units (1,144 single-family, 2,134 in multi-unit buildings)Dec 2021: 4,530 units (1,294 single-family, 3,236 in multi-unit buildings)Jan 2022: 2,932 units (1,155 single-family, 1,777 in multi-unit buildings)Feb 2022: 2,838 units (1,172 single-family, 1,666 in multi-unit buildings)Mar 2022: 4,179 units (1,213 single-family, 2,966 in multi-unit buildings)Apr 2022: 3,346 units (1,147 single-family, 2,199 in multi-unit buildings)May 2022: 2,239 units (1,251 single-family, 988 in multi-unit buildings)Jun 2022: 3,636 units (1,129 single-family, 2,507 in multi-unit buildings)Jul 2022: 3,537 units (1,343 single-family, 2,194 in multi-unit buildings)Aug 2022: 2,389 units (1,150 single-family, 1,239 in multi-unit buildings)Sep 2022: 2,536 units (1,169 single-family, 1,367 in multi-unit buildings)Sep 2022Oct 2022: 1,741 units (980 single-family, 761 in multi-unit buildings)Nov 2022: 2,792 units (851 single-family, 1,941 in multi-unit buildings)Dec 2022: 3,354 units (1,086 single-family, 2,268 in multi-unit buildings)Jan 2023: 2,482 units (1,121 single-family, 1,361 in multi-unit buildings)Feb 2023: 1,862 units (1,078 single-family, 784 in multi-unit buildings)Mar 2023: 3,498 units (1,302 single-family, 2,196 in multi-unit buildings)Apr 2023: 2,194 units (965 single-family, 1,229 in multi-unit buildings)May 2023: 3,757 units (1,173 single-family, 2,584 in multi-unit buildings)Jun 2023: 2,515 units (1,290 single-family, 1,225 in multi-unit buildings)Jul 2023: 2,625 units (987 single-family, 1,638 in multi-unit buildings)Aug 2023: 3,145 units (1,068 single-family, 2,077 in multi-unit buildings)Sep 2023: 2,238 units (1,104 single-family, 1,134 in multi-unit buildings)Sep 2023Oct 2023: 2,896 units (1,192 single-family, 1,704 in multi-unit buildings)Nov 2023: 1,852 units (1,031 single-family, 821 in multi-unit buildings)Dec 2023: 2,507 units (837 single-family, 1,670 in multi-unit buildings)Jan 2024: 3,199 units (1,208 single-family, 1,991 in multi-unit buildings)Feb 2024: 3,727 units (1,278 single-family, 2,449 in multi-unit buildings)Mar 2024: 2,826 units (991 single-family, 1,835 in multi-unit buildings)Apr 2024: 3,096 units (1,413 single-family, 1,683 in multi-unit buildings)May 2024: 2,686 units (1,316 single-family, 1,370 in multi-unit buildings)Jun 2024: 2,865 units (1,380 single-family, 1,485 in multi-unit buildings)Jul 2024: 3,032 units (1,370 single-family, 1,662 in multi-unit buildings)Aug 2024: 3,645 units (1,514 single-family, 2,131 in multi-unit buildings)Sep 2024: 2,588 units (1,314 single-family, 1,274 in multi-unit buildings)Sep 2024Oct 2024: 2,982 units (1,630 single-family, 1,352 in multi-unit buildings)Nov 2024: 3,179 units (1,110 single-family, 2,069 in multi-unit buildings)Dec 2024: 3,661 units (1,153 single-family, 2,508 in multi-unit buildings)Jan 2025: 2,913 units (1,302 single-family, 1,611 in multi-unit buildings)Feb 2025: 2,215 units (1,293 single-family, 922 in multi-unit buildings)Mar 2025: 3,337 units (1,690 single-family, 1,647 in multi-unit buildings)Apr 2025: 2,544 units (1,352 single-family, 1,192 in multi-unit buildings)May 2025: 2,404 units (1,257 single-family, 1,147 in multi-unit buildings)Jun 2025: 2,655 units (1,281 single-family, 1,374 in multi-unit buildings)Jul 2025: 2,638 units (1,114 single-family, 1,524 in multi-unit buildings)Aug 2025: 2,513 units (1,288 single-family, 1,225 in multi-unit buildings)Sep 2025: 2,476 units (1,299 single-family, 1,177 in multi-unit buildings)Sep 2025Oct 2025: 2,869 units (1,381 single-family, 1,488 in multi-unit buildings)Nov 2025: 2,269 units (1,016 single-family, 1,253 in multi-unit buildings)Dec 2025: 3,405 units (1,170 single-family, 2,235 in multi-unit buildings)Jan 2026: 3,320 units (1,184 single-family, 2,136 in multi-unit buildings)Feb 2026: 2,725 units (1,123 single-family, 1,602 in multi-unit buildings)Mar 2026: 2,389 units (1,258 single-family, 1,131 in multi-unit buildings)Apr 2026: 2,256 units (1,143 single-family, 1,113 in multi-unit buildings)May 2026: 2,630 units (910 single-family, 1,720 in multi-unit buildings)Jun 2026: 2,796 units (843 single-family, 1,953 in multi-unit buildings)Jul 2026: 2,211 units (847 single-family, 1,364 in multi-unit buildings)Aug 2026: 2,200 units (979 single-family, 1,221 in multi-unit buildings)

Housing units authorised in New Jersey by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in New Jersey by year, 1995–2025020,00040,0001995: 21,521 units (18,341 single-family, 3,180 in multi-unit buildings)19951996: 24,173 units (20,853 single-family, 3,320 in multi-unit buildings)1997: 28,018 units (23,472 single-family, 4,546 in multi-unit buildings)1998: 31,345 units (25,459 single-family, 5,886 in multi-unit buildings)1999: 31,976 units (25,129 single-family, 6,847 in multi-unit buildings)2000: 34,585 units (25,260 single-family, 9,325 in multi-unit buildings)20002001: 28,267 units (21,503 single-family, 6,764 in multi-unit buildings)2002: 30,441 units (22,379 single-family, 8,062 in multi-unit buildings)2003: 32,984 units (22,163 single-family, 10,821 in multi-unit buildings)2004: 35,936 units (22,429 single-family, 13,507 in multi-unit buildings)2005: 38,588 units (22,264 single-family, 16,324 in multi-unit buildings)20052006: 34,323 units (17,113 single-family, 17,210 in multi-unit buildings)2007: 25,389 units (13,066 single-family, 12,323 in multi-unit buildings)2008: 18,363 units (9,169 single-family, 9,194 in multi-unit buildings)2009: 12,421 units (7,211 single-family, 5,210 in multi-unit buildings)2010: 13,535 units (7,378 single-family, 6,157 in multi-unit buildings)20102011: 12,952 units (6,475 single-family, 6,477 in multi-unit buildings)2012: 17,939 units (7,279 single-family, 10,660 in multi-unit buildings)2013: 24,209 units (10,377 single-family, 13,832 in multi-unit buildings)2014: 28,155 units (11,019 single-family, 17,136 in multi-unit buildings)2015: 30,560 units (10,518 single-family, 20,042 in multi-unit buildings)20152016: 26,793 units (9,626 single-family, 17,167 in multi-unit buildings)2017: 28,501 units (10,148 single-family, 18,353 in multi-unit buildings)2018: 27,942 units (10,348 single-family, 17,594 in multi-unit buildings)2019: 36,505 units (11,526 single-family, 24,979 in multi-unit buildings)2020: 36,146 units (12,289 single-family, 23,857 in multi-unit buildings)20202021: 37,094 units (13,913 single-family, 23,181 in multi-unit buildings)2022: 36,906 units (13,185 single-family, 23,721 in multi-unit buildings)2023: 32,840 units (13,228 single-family, 19,612 in multi-unit buildings)2024: 34,932 units (14,807 single-family, 20,125 in multi-unit buildings)2025: 27,661 units (12,820 single-family, 14,841 in multi-unit buildings)2025

Housing units authorised in New Jersey by year, 1995–2025single-family2+ unit buildings

Single-family share of the latest 12 months: 42% (63% nationally). Since 1995: 881,000 units.

Year by year

Each year's index change and permits, with every county's figures for that year.

YearNew Jersey indexUS indexUnits permittedSingle-family
2025+6.2%+2.8%27,66112,820
2024+8.8%+4.9%34,93214,807
2023+10.7%+5.7%32,84013,228
2022+14.9%+15.5%36,90613,185
2021+10.8%+11.6%37,09413,913
2020+3.3%+3.0%36,14612,289
2019+3.3%+4.2%36,50511,526
2018+3.3%+5.7%27,94210,348
2017+2.2%+5.4%28,50110,148
2016+2.3%+5.3%26,7939,626
2015+2.3%+4.4%30,56010,518
2014+2.8%+6.2%28,15511,019
2013+0.4%+3.4%24,20910,377
2012−3.6%−1.8%17,9397,279
2011−4.3%−4.4%12,9526,475
2010−3.9%−5.1%13,5357,378
2009−8.5%−7.5%12,4217,211
2008−4.7%−4.5%18,3639,169
2007−0.4%+0.6%25,38913,066
2006+8.8%+6.6%34,32317,113
2005+16.5%+12.4%38,58822,264
2004+14.6%+9.2%35,93622,429
2003+8.0%+4.5%32,98422,163
2002+10.9%+5.4%30,44122,379
2001+9.7%+6.7%28,26721,503
2000+10.6%+8.3%34,58525,260
1999+4.4%+4.3%31,97625,129
1998+3.5%+3.7%31,34525,459
1997+1.6%+3.8%28,01823,472
1996+1.7%+3.2%24,17320,853
19950.0%+3.7%21,52118,341

Cities issuing the most permits

Housing units authorised in the 12 months to August 2026; every place is listed on its county page.

Questions and answers

How much have home values in New Jersey risen over 10 years?

The FHFA index rose +87.7% between 2015 and 2025, +6.5% a year; over 20 years +66.1% and since 2000 +191.2%. Nationally: +85.0%, +79.1% and +158.3%.

Which New Jersey counties rose most over 10 years?

Cape May County (+118.1%), Hudson County (+106.8%) and Ocean County (+106.1%), by FHFA's annual county index to 2025.

What happened to New Jersey home prices in 2008?

The state index peaked in 2006, fell −22.9% to 2012 and regained its peak in 2021.

How many homes are being built in New Jersey?

31,546 units were authorised in the 12 months to August 2026: 13,153 single-family and 18,393 in multi-unit buildings, 3.3 per 1,000 residents.

Where does this data come from?

FHFA's quarterly all-transactions state index (through 2026 Q2) and annual state index (updated March 31, 2026); the Census Bureau's Building Permits Survey state and county files through August 2026; vintage 2025 population estimates.

Provenance

Index: Federal Housing Finance Agency, quarterly all-transactions and purchase-only state indexes through 2026 Q2 and annual state index (updated March 31, 2026). Permits: Census Bureau Building Permits Survey state, county and place files through August 2026. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.