Market Overview
Home Prices in Red Bank, NJ
The median home value in Red Bank, NJ is $733,262 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.9% compared to a year ago and up 4.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Red Bank are priced79% above average. Red Bank is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Red Bank home values have risen by approximately40.2%, reflecting strong long-term appreciation in this market.
Price History
Red Bank Home Price Trend
City Comparison
Red Bank vs. National Median
At $733,262, homes in Red Bank cost 79% above the national median of $410,000. Buyers in Red Bank should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Red Bank?
20% Down Payment
$146,652
on $733,262
Monthly P&I
$3,824/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,856/mo
incl. taxes & insurance
Income Needed
$194,240
gross annual (30% rule)
10% Down Option
$73,326
+ PMI applies
Loan Amount (20% dn)
$586,610
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 Red Bank, NJ?
The median home value in Red Bank is $733,262 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.9% year-over-year.
How much have home prices changed in Red Bank?
Over the past year, home values in Red Bank have increased by 7.9%. Over five years, prices have risen approximately 40.2%.
How much do I need to earn to buy a home in Red Bank?
To comfortably afford the median home price of $733,262 with a 20% down payment ($146,652) at today's rates (6.8%), you'd need a gross annual income of approximately $194,240. This assumes keeping total housing costs at or below 30% of gross income.
How does Red Bank compare to the national average home price?
The national median home value is approximately $410,000. At $733,262, homes in Red Bank are 79% above the national average.
What metro area is Red Bank part of?
Red Bank 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.