ZIP Code 08104 Housing Market

📝 Local Market Notes

The housing market in ZIP code 08104, located within Camden County, New Jersey, exhibits a pronounced upward trajectory over the past five years. The Federal Housing Finance Agency Home Price Index (HPI) for this area increased from 250.02 in 2021 to 458.72 in 2025. This progression indicates a cumulative appreciation of approximately 83% over four years, with the most recent year-on-year growth registering at +23.23%. Such a steep ascent suggests a period of intense price acceleration that has significantly outpaced historical norms for the region. This performance reveals a sharp divergence from broader regional trends. While the county-wide year-over-year change stands at +5.82% and the state average is +4.53%, ZIP 08104’s +23.23% growth rate is nearly four times the state figure. This substantial gap signals that the sub-market is experiencing unique local drivers or a correction from a previously depressed baseline, rather than following the moderate appreciation seen across Camden County. The neighboring ZIP 08105 shows a similar high-growth pattern at +23.30%, suggesting a localized surge affecting specific pockets within the county rather than a uniform county-wide shift. Despite the high HPI index, the parent county’s median home value of $287,100 and median household income of $88,755 suggest that 08104 remains an affordable entry-level market relative to national standards. The 64.7% owner-occupancy rate indicates a balanced mix of homeowners and renters, with a median gross rent of $1,402 per month. Prospective buyers should note that the rapid price escalation, set against a 7.40% national mortgage rate, has likely tightened affordability constraints. The data reflects a market currently undergoing rapid value adjustment, where entry-level pricing is rising at a pace that may outstrip local income growth, requiring careful financial planning for new residents.

Based on FHFA House Price Index data.