Market Overview
Home Prices in Garwood, NJ
The median home value in Garwood, NJ is $704,713 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.6% compared to a year ago and up 6.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Garwood are priced72% above average. Garwood is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Garwood home values have risen by approximately36.6%, reflecting strong long-term appreciation in this market.
Price History
Garwood Home Price Trend
City Comparison
Garwood vs. National Median
At $704,713, homes in Garwood cost 72% above the national median of $410,000. Buyers in Garwood should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Garwood?
20% Down Payment
$140,943
on $704,713
Monthly P&I
$3,675/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,667/mo
incl. taxes & insurance
Income Needed
$186,680
gross annual (30% rule)
10% Down Option
$70,471
+ PMI applies
Loan Amount (20% dn)
$563,770
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 Garwood, NJ?
The median home value in Garwood is $704,713 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.6% year-over-year.
How much have home prices changed in Garwood?
Over the past year, home values in Garwood have increased by 1.6%. Over five years, prices have risen approximately 36.6%.
How much do I need to earn to buy a home in Garwood?
To comfortably afford the median home price of $704,713 with a 20% down payment ($140,943) at today's rates (6.8%), you'd need a gross annual income of approximately $186,680. This assumes keeping total housing costs at or below 30% of gross income.
How does Garwood compare to the national average home price?
The national median home value is approximately $410,000. At $704,713, homes in Garwood are 72% above the national average.
What metro area is Garwood part of?
Garwood 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.