Glassboro, New Jersey Housing Market Prices
Glassboro Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 36% below the New Jersey median$224,924
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Median rent 2% below the New Jersey median$1,686
Housing Market Overview
| Metric | Glassboro | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $224,924 | $352,792 | $248,835 |
| Price Trend (Annual %) | 3.5% | 4.4% | 7.5% |
| Median Gross Rent | $1,686 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 6.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Glassboro is about 36% lower than in New Jersey. Rent is about 2% lower than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2020
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Glassboro, up about 3.5% and 6.4% a year respectively. Rent is changing faster.
Median rent in Glassboro rose about 76.4% between 2015 and 2024, from $956 to $1,686. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Glassboro.
Buying the median-priced home in Glassboro costs roughly 11.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Glassboro. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Glassboro | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $224,924 | $352,792 | $248,835 |
| Median Household Income | $85,905 | $103,817 | $80,455 |
| Price-to-Income Ratio | 2.6 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2020, the median home price in Glassboro rose about 20.0%, while median household income rose about 48.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Glassboro | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.9% | 59.1% | 58.5% |
| Rental Rate | 36.9% | 33.5% | 31.2% |
| Vacancy Rate | 8.2% | 7.5% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Glassboro has a homeownership rate of 54.9%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 8.2%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Glassboro | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1988 | 1968 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Glassboro was built around 1988. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Glassboro, New Jersey.
What is the median home price in Glassboro, New Jersey?
The median home price in Glassboro, New Jersey is $224,924, lower than the New Jersey average of $352,792.
What is the average home price in Glassboro, New Jersey?
The typical home price in Glassboro, New Jersey, reported as the median sale price, is $224,924. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Glassboro, New Jersey?
The median gross rent in Glassboro, New Jersey is $1,686 per month, lower than the New Jersey average of $1,719.
What was the median gross rent in Glassboro in 2020?
In 2020, the median gross rent in Glassboro, New Jersey was $1,373 per month.
What is the price-to-rent ratio in Glassboro, New Jersey?
The price-to-rent ratio in Glassboro, New Jersey is about 11.1, meaning it would take roughly 11.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Glassboro.
Are home prices or rent rising faster in Glassboro, New Jersey?
Both home prices and rent are rising in Glassboro, up about 3.5% and 6.4% a year respectively. Rent is changing faster.
What is the homeownership rate in Glassboro, New Jersey?
54.9% of households in Glassboro, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Glassboro, New Jersey?
The housing vacancy rate in Glassboro, New Jersey is 8.2%, higher than the New Jersey average of 7.5%.
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