How much is a home worth in ZIP code 08638?

The typical home in 08638 is worth $308,053, based on the Zillow Home Value Index.

Are home values rising in 08638?

Home values in 08638 are down 4.4% over the past year, and up 7.0% a year over five years.

What is the typical rent in 08638?

A typical home in 08638 rents for about $2,240 a month, a gross rental yield of 8.7%.

What is the property tax rate in 08638?

The effective property tax rate in 08638 is 2.4% — roughly $7,349 a year on a typical home.

ZIP code 08638 has a population of 22,816 and a median household income of $66,875.

HousingHandbookReference data

…

U.S. ZIP Code · NJ08638

Mercer County · Trenton-Princeton, NJ

Typical home value

$308,053^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -4.4%
5-year / yr: +7.0%
10-year / yr: +8.3%

Relative price

vs U.S.: +8.4%
vs metro: -33.8%
vs state: -45.9%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 08638 is worth $308,053 — 33.8% below the Trenton-Princeton, NJ median. Over the past year, values have fallen 4.4%. Homes here rent for a typical $2,240 a month — a 8.7% gross rental yield. The effective property tax rate is 2.4%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,240^[2]
Gross yield: 8.7%^[2]
Cap rate: 5.2%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 2.4%^[3]
Typical annual tax: $7,349^[3]

#Climate risk

FEMA National Risk Index ratings for Mercer County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Relatively Low
Wildfire: Relatively Low
Drought: Relatively Low
Heat wave: Relatively Moderate
Hurricane: Relatively High
Tornado: Relatively Moderate
Earthquake: Relatively Moderate
Winter weather: Very High

#Who lives here

Population: 22,816^[3]
Median household income: $66,875^[3]

#Migration

Household moves in and out of Mercer County over a year, from IRS tax-return data.

Net migration: -1,900^[5]
Moved in: 8,722
Moved out: 10,622

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 6
Middle: 1
High: 0

William L Antheil Elementary School
Elementary · Grades PK–5 · Ewing Township School District
730 students
Dr. Martin Luther King Middle School
Middle · Grades 7–8 · Trenton Public School District
610 students
Luis Munoz-Rivera Elementary School
Elementary · Grades K–3 · Trenton Public School District
456 students
Paul Robeson Charter School for the Humanities
Elementary · Grades K–8 · Paul Robeson Charter School for the Humanities
434 students
The Village Charter School
Elementary · Grades K–8 · The Village Charter School
359 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield8.7%

Net yield (after ~40% expenses)5.2%

Annual rent$26,877

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,558

Loan principal$246,442

Down payment$61,611

Total interest paid$314,324

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.08

Monthly cost to own$2,428

Monthly rent$2,240

Owning and renting are roughly even.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 33rd percentile^[1]
Rental yield: 77th percentile^[2]
Property tax: 78th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 08638?: The typical home in 08638 is worth $308,053, based on the Zillow Home Value Index.
Are home values rising in 08638?: Home values in 08638 are down 4.4% over the past year, and up 7.0% a year over five years.
What is the typical rent in 08638?: A typical home in 08638 rents for about $2,240 a month, a gross rental yield of 8.7%.
What is the property tax rate in 08638?: The effective property tax rate in 08638 is 2.4% — roughly $7,349 a year on a typical home.
Who lives in 08638?: ZIP code 08638 has a population of 22,816 and a median household income of $66,875.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

08618 vs 08638 →
Trenton, NJ
Typical home
$270,551
Gross yield
8.9%
08610 vs 08638 →
White Horse CDP, NJ
Typical home
$352,628
Gross yield
5.7%
08629
Trenton, NJ
Typical home
$259,413
Gross yield
—
08609
Trenton, NJ
Typical home
$211,648
Gross yield
12.1%
08611
Trenton, NJ
Typical home
$197,259
Gross yield
11.9%
08628
Trenton, NJ
Typical home
$428,241
Gross yield
5.6%

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Pit ZIP 08638 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · NJ08638

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