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Far Hills borough, NJ

ZIP 07931 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Wealthy AreaLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07931

Median Home Value
$1,084,200
Median Rent
$3,313
Affordability Snapshot
$299,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$6,965/mo PITI).

25%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.8x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

27.3 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 07931 in Far Hills borough, NJ, a household would need roughly $299,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $6,965. That is about 88% above the local median household income ($159,013), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 12% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
84.2%+29% vs US avg
x
Vacancy Rate
11.8%+15% vs US avg
x
Broadband Access
90.5%+4% vs US avg
x
4+ Bedrooms
37.9%+156% vs US avg
x
Built Pre-1939
5.9%-54% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
20.4%-59% vs US avg
x
Mortgage-Free
48.0%+26% vs US avg
x
$1,084,200
Home Value
$3,313
Rent
1984
Year Built
2009
Moved In

Residents have lived here since ~2009 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached86.6%
  • 1-unit attached8.8%
  • 2-9 units2.9%
  • 10+ units1.6%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$1,084,200
Median rent$3,313
Owner-occupied84.2%
Vacant11.8%
Price-to-income6.8x
Est. income to buy$299,000