Trenton, New Jersey Housing Market Prices
Trenton 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 31% below the New Jersey median$244,261
-
Median rent 25% below the New Jersey median$1,292
Housing Market Overview
| Metric | Trenton | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $244,261 | $352,792 | $248,835 |
| Price Trend (Annual %) | 31.6% | 4.4% | 7.5% |
| Median Gross Rent | $1,292 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Trenton is about 31% lower than in New Jersey. Rent is about 25% 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 Trenton, up about 31.6% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Trenton rose about 35.3% between 2015 and 2024, from $955 to $1,292. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 4.7 yearly household incomes in Trenton.
Buying the median-priced home in Trenton costs roughly 15.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Trenton. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Trenton | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $244,261 | $352,792 | $248,835 |
| Median Household Income | $52,369 | $103,817 | $80,455 |
| Price-to-Income Ratio | 4.7 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Trenton rose about 526.2%, while median household income rose about 36.1% 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 | Trenton | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 35.2% | 59.1% | 58.5% |
| Rental Rate | 57.6% | 33.5% | 31.2% |
| Vacancy Rate | 7.1% | 7.5% | 10.2% |
| Median Tenure (years) | 13.0 | 16.0 | 15.0 |
| Median Year Moved In | 2013 | 2010 | 2011 |
Trenton has a homeownership rate of 35.2%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 7.1%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Trenton | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1955 | 1968 | 1978 |
| Median Number of Rooms | 5.1 | 5.7 | 5.5 |
The typical housing unit in Trenton was built around 1955. On average, 2.7 people live in a home with about 5.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Trenton, New Jersey.
What is the median home price in Trenton, New Jersey?
The median home price in Trenton, New Jersey is $244,261, lower than the New Jersey average of $352,792.
What is the average home price in Trenton, New Jersey?
The typical home price in Trenton, New Jersey, reported as the median sale price, is $244,261. 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 Trenton, New Jersey?
The median gross rent in Trenton, New Jersey is $1,292 per month, lower than the New Jersey average of $1,719.
What was the median gross rent in Trenton in 2020?
In 2020, the median gross rent in Trenton, New Jersey was $1,084 per month.
What is the price-to-rent ratio in Trenton, New Jersey?
The price-to-rent ratio in Trenton, New Jersey is about 15.8, meaning it would take roughly 15.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Trenton.
Are home prices or rent rising faster in Trenton, New Jersey?
Both home prices and rent are rising in Trenton, up about 31.6% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Trenton, New Jersey?
35.2% of households in Trenton, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Trenton, New Jersey?
The housing vacancy rate in Trenton, New Jersey is 7.1%, 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 →