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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.



Cranbury, 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 Q2 2024. 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

Cranbury, NJ Housing Market Trends

With 2,200 people, 835 houses or apartments, and a median cost of homes of $1,068,602, Cranbury house prices are not only among the most expensive in New Jersey, Cranbury real estate also is some of the most expensive in all of America.

Cranbury is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Cranbury than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cranbury. Owner-occupied housing accounts for 83.60% of Cranbury's homes, and 72.13% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cranbury 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 Cranbury built before 1939 ( 31.71%). A lesser amount of the housing stock also hails from between 1940-1969 ( 26.13%). There's also some housing in Cranbury built between 2000 and later ( 5.11%).

Cranbury Home Appreciation Rates

Cranbury's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cranbury during the period has been just 4.60%, which is lower than 80% of US communities.

Appreciation rates are so strong in Cranbury that despite a nationwide downturn in the housing market, Cranbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cranbury appreciation rates continue to be some of the highest in America, at 9.76%, which is higher than appreciation rates in 86.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cranbury. Cranbury appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.

Relative to New Jersey, our data show that Cranbury's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$1,068,602

Cranbury, NJ Home Prices
> $1,355,000
$1,016,001 - $1,355,000
$678,001 - $1,016,000
$542,001 - $678,000
$406,001 - $542,000
$271,001 - $406,000
$136,001 - $271,000
$68,001 - $136,000
$0 - $68,000
20.6%
20.6%
35.0%
35.0%
30.2%
30.2%
4.8%
4.8%
2.4%
2.4%
5.7%
5.7%
0.0%
0.0%
0.8%
0.8%
0.6%
0.6%
0% 100.0%
% of Homes
Very High

for New jersey

Very High

for nation

Number of Homes And Apartments:

835

Cranbury Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,195 / per month

Homeownership Rate

Owners
Renters
83.6%
83.6%
16.4%
16.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.0%
3.0%
97.0%
97.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.1%
5.1%
37.0%
37.0%
26.1%
26.1%
31.7%
31.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
83.7%
83.7%
8.9%
8.9%
2.6%
2.6%
4.8%
4.8%
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
0.7%
0.7%
5.2%
5.2%
8.7%
8.7%
30.8%
30.8%
41.3%
41.3%
13.2%
13.2%
0% 100.0%
% of Homes