ZIP Code 07838 Housing Market
ZIP code 07838 is located in Warren County, New Jersey. Based on the FHFA House Price Index, the most recent annual HPI value is 234.9 (2000 = 100) , with a year-over-year change of +4.69% as of 2025.
📈 07838 HPI Trend
FHFA House Price Index for Five-Digit ZIP Codes (2000 = 100)
📝 Local Market Notes
ZIP code 07838 in Warren County, New Jersey, exhibits a robust upward price trajectory over the past five years. The Home Price Index (HPI) has surged from 160.4 in 2021 to 234.87 in 2025, representing a cumulative increase of approximately 46.4%. This sustained growth indicates a market that has experienced significant appreciation, outpacing the baseline index of 100 established in 2000. The recent acceleration, with the HPI rising from 224.34 in 2024 to 234.87 in 2025, suggests that demand in this specific sub-market remains strong despite broader economic headwinds. Regarding performance relative to broader geographic indicators, ZIP 07838 recorded a year-over-year increase of +4.69%. This figure trails the Warren County average of +6.81% but aligns closely with the New Jersey state average of +4.53%. The divergence from the county average signals that while the broader Warren County market is heating up, ZIP 07838 is growing at a pace more consistent with the state median. Compared to nearby ZIPs such as 07863 (+3.21%) and 08865 (+3.38%), ZIP 07838 is appreciating at a faster rate, suggesting it may be capturing a specific segment of buyer demand that neighboring areas are not. The sub-market character of ZIP 07838 reflects a premium positioning within a high-income region. With a parent county median household income of $100,869 and a median home value of $346,500, the area supports owner-occupied housing, as evidenced by the 75.1% owner occupancy rate. The current HPI level of 234.9 places this ZIP code in the upper tier of the county’s price spectrum. For prospective buyers, the data indicates a competitive environment where prices are rising steadily, albeit slightly slower than the county peak. Residents should note that while the market is appreciating, the current 7.40% mortgage rate significantly impacts affordability, making entry into this well-established, high-income sub-market a substantial financial commitment.
About This ZIP Code
ZIP code 07838 is one of the most active real estate sub-markets in Warren County, New Jersey. The FHFA House Price Index tracks cumulative price appreciation since 2000, providing a consistent measure of long-term value change in this specific ZIP area.
For full county-level context, see the Warren County Housing Market page, which includes ACS median home values, rent, owner-occupancy, employment, migration, and other economic indicators.
Other Active ZIPs in Warren County
| ZIP Code | HPI | YoY | Latest Year |
|---|---|---|---|
| 07863 | 221.1 | +3.21% | 2025 |
| 08865 | 258.4 | +3.38% | 2025 |
| 07823 | 233.2 | +6.69% | 2025 |
| 07832 | 245.7 | +8.28% | 2025 |
| 08886 | 219.7 | +12.24% | 2025 |
Data Source: FHFA House Price Index for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100). Data as of 2025. This product uses FHFA Data but is neither endorsed nor certified by FHFA.