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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Basking Ridge, NJ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Basking Ridge, NJ Housing Market Trends

With a population of 7,196, 2,832 total housing units (homes and apartments), and a median house value of $1,111,193, Basking Ridge house prices are not only among the most expensive in New Jersey, Basking Ridge real estate also is some of the most expensive in all of America.

Basking Ridge is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Basking Ridge than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Basking Ridge. Owner-occupied housing accounts for 82.48% of Basking Ridge's homes, and 63.46% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Basking Ridge built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Basking Ridge built between 1940-1969 ( 37.20%). A lesser amount of the housing stock also hails from before 1939 ( 11.11%). There's also some housing in Basking Ridge built between 2000 and later ( 6.89%).

Basking Ridge Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Basking Ridge, where house values have increased just 48.78%, which is annualized rate of 4.05%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Basking Ridge that despite a nationwide downturn in the housing market, Basking Ridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Basking Ridge appreciation rates continue to be some of the highest in America, at 8.67%, which is higher than appreciation rates in 77.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Basking Ridge. Basking Ridge appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.

Relative to New Jersey, our data show that Basking Ridge's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$1,111,193

Basking Ridge, NJ Home Prices
> $1,355,000
$1,016,001 - $1,355,000
$677,001 - $1,016,000
$542,001 - $677,000
$407,001 - $542,000
$271,001 - $407,000
$136,001 - $271,000
$68,001 - $136,000
$0 - $68,000
33.2%
33.2%
25.1%
25.1%
27.1%
27.1%
5.9%
5.9%
4.6%
4.6%
2.1%
2.1%
1.6%
1.6%
0.4%
0.4%
0.1%
0.1%
0% 100.0%
% of Homes
Very High

for New jersey

Very High

for nation

Number of Homes And Apartments:

2,832

Basking Ridge Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,048 / per month

Homeownership Rate

Owners
Renters
82.5%
82.5%
17.5%
17.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.0%
2.0%
98.0%
98.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.9%
6.9%
44.8%
44.8%
37.2%
37.2%
11.1%
11.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
77.7%
77.7%
5.0%
5.0%
5.2%
5.2%
12.1%
12.1%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
12.9%
12.9%
10.6%
10.6%
23.9%
23.9%
39.6%
39.6%
13.1%
13.1%
0% 100.0%
% of Homes