Market Overview
Home Prices in Carteret, NJ
The median home value in Carteret, NJ is $564,361 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.4% compared to a year ago and up 4.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Carteret are priced38% above average. Carteret is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Carteret home values have risen by approximately39.0%, reflecting strong long-term appreciation in this market.
Price History
Carteret Home Price Trend
City Comparison
Carteret vs. National Median
At $564,361, homes in Carteret cost 38% above the national median of $410,000. Buyers in Carteret should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Carteret?
20% Down Payment
$112,872
on $564,361
Monthly P&I
$2,943/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,738/mo
incl. taxes & insurance
Income Needed
$149,520
gross annual (30% rule)
10% Down Option
$56,436
+ PMI applies
Loan Amount (20% dn)
$451,489
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Carteret, NJ?
The median home value in Carteret is $564,361 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.4% year-over-year.
How much have home prices changed in Carteret?
Over the past year, home values in Carteret have increased by 5.4%. Over five years, prices have risen approximately 39.0%.
How much do I need to earn to buy a home in Carteret?
To comfortably afford the median home price of $564,361 with a 20% down payment ($112,872) at today's rates (6.8%), you'd need a gross annual income of approximately $149,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Carteret compare to the national average home price?
The national median home value is approximately $410,000. At $564,361, homes in Carteret are 38% above the national average.
What metro area is Carteret part of?
Carteret is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.