Market Overview
Home Prices in Penns Grove, NJ
The median home value in Penns Grove, NJ is $204,336 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 0.4% compared to a year ago and up 5.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Penns Grove are priced50% below average. Penns Grove is part of the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metro area.
Over the past five years, Penns Grove home values have risen by approximately69.2%, reflecting strong long-term appreciation in this market.
Price History
Penns Grove Home Price Trend
City Comparison
Penns Grove vs. National Median
At $204,336, homes in Penns Grove cost 50% below the national median of $410,000. This makes Penns Grove a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Penns Grove?
20% Down Payment
$40,867
on $204,336
Monthly P&I
$1,066/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,354/mo
incl. taxes & insurance
Income Needed
$54,160
gross annual (30% rule)
10% Down Option
$20,434
+ PMI applies
Loan Amount (20% dn)
$163,469
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 Penns Grove, NJ?
The median home value in Penns Grove is $204,336 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 0.4% year-over-year.
How much have home prices changed in Penns Grove?
Over the past year, home values in Penns Grove have decreased by 0.4%. Over five years, prices have risen approximately 69.2%.
How much do I need to earn to buy a home in Penns Grove?
To comfortably afford the median home price of $204,336 with a 20% down payment ($40,867) at today's rates (6.8%), you'd need a gross annual income of approximately $54,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Penns Grove compare to the national average home price?
The national median home value is approximately $410,000. At $204,336, homes in Penns Grove are 50% below the national average.
What metro area is Penns Grove part of?
Penns Grove is part of the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan area. Home prices and market conditions can vary across the broader metro region.