ZIP Code 07762 Housing Market

📝 Local Market Notes

The housing market in ZIP code 07762, located in Monmouth County, New Jersey, exhibits a complex price trajectory over the past five years. The Home Price Index (HPI), indexed to 100 in 2000, rose from 247.47 in 2021 to a peak of 373.72 in 2023. However, the index retreated to 350.33 in 2024 before recovering slightly to 366.58 in 2025. This pattern indicates significant volatility, with a sharp appreciation phase followed by a correction and subsequent stabilization. The current HPI level of 366.6 suggests that home values in this specific area are substantially higher than the national baseline, reflecting a mature and established market structure. Comparative analysis reveals that ZIP 07762’s year-over-year growth of 4.64% in 2025 lags behind the broader Monmouth County rate of 6.20%, though it aligns closely with the New Jersey state average of 4.53%. This divergence from the county average signals that the ZIP code is not currently outperforming its immediate regional peers. While nearby ZIP 07760 has seen aggressive 19.82% growth, 07762 remains more stable. This relative moderation suggests that local demand is balanced rather than overheated, providing a buffer against the sharper fluctuations observed in adjacent high-growth areas. The sub-market character of 07762 aligns with the affluent profile of Monmouth County, where the median home value stands at $606,100 and the median household income reaches $124,845. With an owner-occupancy rate of 75.6%, the area is predominantly residential rather than renter-heavy. For prospective buyers, the practical takeaway is that while entry costs are high, the market has demonstrated resilience. The recent stabilization after the 2024 dip, combined with income levels that support the median home price, indicates a market driven by consistent local wealth rather than speculative momentum. Buyers should note that the 7.40% national mortgage rate continues to influence affordability, but the ZIP’s strong income fundamentals provide a solid foundation for long-term equity retention.

Based on FHFA House Price Index data.