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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.



Rumson, 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 Q4 2023. 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

Rumson, NJ Housing Market Trends

With a population of 7,230, 2,303 total housing units (homes and apartments), and a median house value of $1,539,706, Rumson house prices are not only among the most expensive in New Jersey, Rumson real estate also is some of the most expensive in all of America.

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

The large homes that make up Rumson are primarily owner-occupied ( 92.54%).

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Rumson's housing was primarily built during this period, from the '40s through the '60s. A full 30.79% of the borough's housing hails from this era. Other housing ages represented in Rumson include homes built between 2000 and later ( 27.68%) and housing constructed before 1939 ( 23.04%). There's also some housing in Rumson built between 1970-1999 ( 18.48%).

Rumson Home Appreciation Rates

Rumson's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rumson during the period has been just 5.33%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Rumson's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Rumson's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.

Relative to New Jersey, our data show that Rumson's latest annual appreciation rate is lower than 50% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$1,539,706

Rumson, NJ Home Prices
> $1,229,000
$922,001 - $1,229,000
$614,001 - $922,000
$491,001 - $614,000
$369,001 - $491,000
$246,001 - $369,000
$123,001 - $246,000
$61,001 - $123,000
$0 - $61,000
68.6%
68.6%
13.3%
13.3%
12.0%
12.0%
3.0%
3.0%
0.0%
0.0%
1.2%
1.2%
0.6%
0.6%
0.0%
0.0%
1.3%
1.3%
0% 100.0%
% of Homes
Very High

for New jersey

Very High

for nation

Number of Homes And Apartments:

2,303

Rumson Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,448 / per month

Homeownership Rate

Owners
Renters
92.5%
92.5%
7.5%
7.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.1%
7.1%
92.9%
92.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
27.7%
27.7%
18.5%
18.5%
30.8%
30.8%
23.0%
23.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
97.1%
97.1%
1.2%
1.2%
1.7%
1.7%
0.0%
0.0%
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%
1.3%
1.3%
7.3%
7.3%
22.9%
22.9%
36.8%
36.8%
31.8%
31.8%
0% 100.0%
% of Homes