ZIP Code 08332 Housing Market

📝 Local Market Notes

ZIP code 08332 in Cumberland County, New Jersey, has demonstrated a robust upward price trajectory over the past five years. The FHFA House Price Index for this area surged from 178.8 in 2021 to 275.1 in 2025, representing a cumulative increase of approximately 53.8%. This consistent appreciation indicates sustained demand within the sub-market, with annual gains accelerating from 15.2% in 2022 to the current 4.32% year-over-year growth. The index level of 275.1, relative to the 2000 baseline of 100, confirms that housing values in 08332 have nearly tripled over the last two decades, reflecting long-term structural strength rather than transient market fluctuations. When compared to broader regional metrics, ZIP 08332 is currently underperforming relative to its immediate county and state peers. While the county experienced a 6.22% year-over-year increase and the state saw 4.53% growth, 08332 lagged slightly at 4.32%. This divergence suggests that while the broader Cumberland County market is heating up, 08332 may be experiencing a slight moderation in price velocity. Nearby ZIP 08302, with a similar HPI of 276.4 but significantly higher growth at 11.63%, highlights that 08332 is not isolated in its value tier but is currently growing at a more conservative pace than some adjacent competitors. The sub-market character of 08332 aligns with the broader Cumberland County profile, which features a median home value of $221,400 and a median household income of $67,436. With an owner occupancy rate of 66.5%, the area maintains a balanced mix of ownership and rental housing, though the HPI suggests that entry-level buyers may face increasing competition as values climb. For prospective residents, the practical takeaway is that 08332 offers established value with strong historical appreciation, yet the current growth rate is slightly below the county average. Buyers should note that while prices have risen sharply since 2021, the market is not currently exhibiting the extreme overheating seen in neighboring ZIP codes, potentially offering a more stable entry point compared to the 11.63% surge observed in 08302.

Based on FHFA House Price Index data.