ZIP Code 08555 Housing Market

📝 Local Market Notes

ZIP code 08555 demonstrates a robust upward trajectory in home values, with the FHFA House Price Index rising from 201.68 in 2020 to 332.66 in 2025. This represents a cumulative appreciation of approximately 65% over the five-year period. The pace of growth accelerated significantly in the most recent cycle, as the index jumped from 253.17 in 2023 to 314.8 in 2024, followed by a further increase to 332.66 in 2025. Such sustained momentum indicates strong underlying demand relative to supply within this specific geographic area. The year-over-year growth rate for ZIP 08555 stands at 5.67%, which lags slightly behind the Monmouth County average of 6.20% but significantly exceeds the New Jersey state average of 4.53%. This divergence suggests that while the broader state market experiences moderate gains, specific sub-markets within Monmouth County are outperforming regional trends. The ZIP’s performance aligns more closely with high-growth pockets like nearby ZIP 07760, which recorded a 19.82% increase, indicating that 08555 is part of a broader corridor of elevated activity rather than an isolated outlier. Contextualizing these figures with American Community Survey data for the parent county, the median home value is $606,100, and the median household income is $124,845. With an owner-occupancy rate of 75.6%, the area functions as a stable, middle-to-upper-middle-class residential market. The HPI level of 332.7, which is 3.3 times the 2000 baseline, reflects a premium pricing environment compared to historical averages. For prospective buyers, the data highlights a market where entry costs are substantial and rising faster than the state norm. Residents should anticipate continued pressure on affordability, as the combination of high income levels and strong price appreciation creates a competitive landscape for homeownership in this segment of Monmouth County.

Based on FHFA House Price Index data.