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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.



Randolph, 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

Randolph, NJ Housing Market Trends

With a population of 26,497, 9,159 total housing units (homes and apartments), and a median house value of $855,836, real estate costs in Randolph are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Randolph is a township of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Randolph 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 Randolph. Owner-occupied housing accounts for 74.96% of Randolph's homes, and 57.72% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Randolph 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 Randolph built between 1940-1969 ( 25.65%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.77%). There's also some housing in Randolph built before 1939 ( 3.98%).

Randolph Home Appreciation Rates

Randolph's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Randolph during the period has been just 4.62%, which is lower than 80% of US communities.

Appreciation rates are so strong in Randolph that despite a nationwide downturn in the housing market, Randolph real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Randolph appreciation rates continue to be some of the highest in America, at 9.61%, which is higher than appreciation rates in 85.06% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Randolph. Randolph 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 Randolph's latest annual appreciation rate is lower than 60% of the other cities and towns in New Jersey.

One very important thing to keep in mind is that these are average appreciation rates for the township. Individual neighborhoods within Randolph differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Randolph - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Randolph real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$855,836

Randolph, NJ Home Prices
> $1,364,000
$1,024,001 - $1,364,000
$682,001 - $1,024,000
$546,001 - $682,000
$409,001 - $546,000
$273,001 - $409,000
$137,001 - $273,000
$68,001 - $137,000
$0 - $68,000
4.5%
4.5%
17.5%
17.5%
50.1%
50.1%
11.7%
11.7%
11.9%
11.9%
2.7%
2.7%
0.8%
0.8%
0.2%
0.2%
0.6%
0.6%
0% 100.0%
% of Homes
High

for New jersey

Very High

for nation

Number of Homes And Apartments:

9,159

Randolph Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,721 / per month

Homeownership Rate

Owners
Renters
75.0%
75.0%
25.0%
25.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
1.9%
1.9%
98.1%
98.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.8%
10.8%
59.6%
59.6%
25.7%
25.7%
4.0%
4.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
72.1%
72.1%
6.5%
6.5%
7.2%
7.2%
14.2%
14.2%
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
4.0%
4.0%
14.2%
14.2%
10.4%
10.4%
19.0%
19.0%
38.7%
38.7%
13.8%
13.8%
0% 100.0%
% of Homes