ZIP Code 08829 Housing Market

📝 Local Market Notes

ZIP code 08829 in Hunterdon County exhibits a robust upward trajectory, with the FHFA House Price Index rising from 166.84 in 2021 to 255.61 in 2025. This represents a cumulative increase of approximately 53% over the four-year period. The most recent annual growth rate stands at 8.53%, indicating sustained momentum in home values. This performance outpaces the broader regional trends, as the county’s year-over-year growth is recorded at 6.32% and the state average at 4.53%. The divergence between the ZIP-level growth and the county average suggests that 08829 is experiencing stronger localized demand or supply constraints compared to the surrounding Hunterdon County market. When compared to nearby ZIPs, 08829’s growth rate is moderate, sitting between the higher 10.96% increase in ZIP 08559 and the 6.95% rise in ZIP 08889, though its absolute HPI level of 255.6 places it among the higher-valued areas in the region. The sub-market character of 08829 aligns with a high-end, owner-occupied residential area. The parent county data reveals a median household income of $141,715 and an owner-occupancy rate of 85.1%, both indicators of a stable, affluent housing stock. With a median home value in the county of $517,200 and an HPI index significantly above the 2000 baseline, 08829 likely commands premium pricing relative to entry-level markets. The high owner-occupancy rate suggests low rental turnover and a community focused on long-term residency rather than transient rental activity. For prospective buyers, the data indicates a competitive environment where home values are appreciating faster than the state average. The combination of high local income levels and strong price appreciation underscores the market’s resilience. Residents should note that while mortgage rates remain elevated at 7.40%, the underlying asset values in 08829 continue to climb, reflecting strong fundamental demand. The market is characterized by stability and wealth retention, making it a distinct segment within Hunterdon County’s housing landscape.

Based on FHFA House Price Index data.