Perth Amboy, New Jersey Housing Market Prices
Perth Amboy 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.
-
Median home price 46% above the New Jersey median$513,513
-
Median rent 2% below the New Jersey median$1,687
Housing Market Overview
| Metric | Perth Amboy | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $513,513 | $352,792 | $248,835 |
| Price Trend (Annual %) | 18.7% | 4.4% | 7.5% |
| Median Gross Rent | $1,687 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Perth Amboy is about 46% higher than in New Jersey. Rent is about 2% lower than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Perth Amboy, up about 18.7% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Perth Amboy rose about 44.8% between 2015 and 2024, from $1,165 to $1,687. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 8.3 yearly household incomes in Perth Amboy.
Buying the median-priced home in Perth Amboy costs roughly 25.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Perth Amboy. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Perth Amboy | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $513,513 | $352,792 | $248,835 |
| Median Household Income | $62,225 | $103,817 | $80,455 |
| Price-to-Income Ratio | 8.3 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Perth Amboy rose about 172.8%, while median household income rose about 24.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Perth Amboy | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 34.4% | 59.1% | 58.5% |
| Rental Rate | 62.7% | 33.5% | 31.2% |
| Vacancy Rate | 2.9% | 7.5% | 10.2% |
| Median Tenure (years) | 12.0 | 16.0 | 15.0 |
| Median Year Moved In | 2014 | 2010 | 2011 |
Perth Amboy has a homeownership rate of 34.4%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 2.9%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Perth Amboy | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.91 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1961 | 1968 | 1978 |
| Median Number of Rooms | 4.6 | 5.7 | 5.5 |
The typical housing unit in Perth Amboy was built around 1961. On average, 2.9 people live in a home with about 4.6 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Perth Amboy, New Jersey.
What is the median home price in Perth Amboy, New Jersey?
The median home price in Perth Amboy, New Jersey is $513,513, higher than the New Jersey average of $352,792.
What is the average home price in Perth Amboy, New Jersey?
The typical home price in Perth Amboy, New Jersey, reported as the median sale price, is $513,513. 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 Perth Amboy, New Jersey?
The median gross rent in Perth Amboy, New Jersey is $1,687 per month, lower than the New Jersey average of $1,719.
What was the median gross rent in Perth Amboy in 2020?
In 2020, the median gross rent in Perth Amboy, New Jersey was $1,387 per month.
What is the price-to-rent ratio in Perth Amboy, New Jersey?
The price-to-rent ratio in Perth Amboy, New Jersey is about 25.4, meaning it would take roughly 25.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Perth Amboy.
Are home prices or rent rising faster in Perth Amboy, New Jersey?
Both home prices and rent are rising in Perth Amboy, up about 18.7% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Perth Amboy, New Jersey?
34.4% of households in Perth Amboy, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Perth Amboy, New Jersey?
The housing vacancy rate in Perth Amboy, New Jersey is 2.9%, lower than the New Jersey average of 7.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →