How much is a home worth in ZIP code 08723?

The typical home in 08723 is worth $516,853, based on the Zillow Home Value Index.

Are home values rising in 08723?

Home values in 08723 are up 5.4% over the past year, and up 7.8% a year over five years.

What is the typical rent in 08723?

A typical home in 08723 rents for about $2,667 a month, a gross rental yield of 6.2%.

What is the property tax rate in 08723?

The effective property tax rate in 08723 is 1.5% — roughly $7,877 a year on a typical home.

ZIP code 08723 has a population of 32,141 and a median household income of $108,643.

HousingHandbookReference data

…

U.S. ZIP Code · NJ08723

Ocean County · New York-Newark-Jersey City, NY-NJ

Typical home value

$516,853^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +5.4%
5-year / yr: +7.8%
10-year / yr: +7.4%

Relative price

vs U.S.: +81.9%
vs metro: -29.2%
vs state: -9.3%

Price history

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

The typical home in 08723 is worth $516,853 — 29.2% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 5.4%. Homes here rent for a typical $2,667 a month — a 6.2% gross rental yield. The effective property tax rate is 1.5%.

#Rent & investment

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

Monthly rent: $2,667^[2]
Gross yield: 6.2%^[2]
Cap rate: 3.7%^[2]

#Property tax

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

Effective tax rate: 1.5%^[3]
Typical annual tax: $7,877^[3]

#Climate risk

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

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

#Who lives here

Population: 32,141^[3]
Median household income: $108,643^[3]

#Migration

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

Net migration: +263^[5]
Moved in: 12,755
Moved out: 12,492

Schools

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

Public schools: 7
Elementary: 3
Middle: 1
High: 2

Brick Township High School
High · Grades 9–12 · Brick Township Public School District
1,211 students
Lake Riviera Middle School
Middle · Grades 6–8 · Brick Township Public School District
896 students
Emma Havens Young Elementary School
Elementary · Grades K–5 · Brick Township Public School District
833 students
Drum Point Road Elementary School
Elementary · Grades K–5 · Brick Township Public School District
471 students
Osbornville Elementary School
Elementary · Grades K–5 · Brick Township Public School District
379 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 yield6.2%

Net yield (after ~40% expenses)3.7%

Annual rent$32,000

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$2,613

Loan principal$413,483

Down payment$103,371

Total interest paid$527,374

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 ratio1.39

Monthly cost to own$3,699

Monthly rent$2,667

Renting is meaningfully cheaper month-to-month.

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: 85th percentile^[1]
Rental yield: 82nd percentile^[2]
Property tax: 36th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 08723?: The typical home in 08723 is worth $516,853, based on the Zillow Home Value Index.
Are home values rising in 08723?: Home values in 08723 are up 5.4% over the past year, and up 7.8% a year over five years.
What is the typical rent in 08723?: A typical home in 08723 rents for about $2,667 a month, a gross rental yield of 6.2%.
What is the property tax rate in 08723?: The effective property tax rate in 08723 is 1.5% — roughly $7,877 a year on a typical home.
Who lives in 08723?: ZIP code 08723 has a population of 32,141 and a median household income of $108,643.

#Comparable ZIPs

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

07721 vs 08723 →
Laurence Harbor CDP, NJ
Typical home
$516,822
Gross yield
—
10459 vs 08723 →
New York, NY
Typical home
$516,522
Gross yield
6.9%
08809
Clinton, NJ
Typical home
$516,057
Gross yield
—
11373
New York, NY
Typical home
$515,852
Gross yield
5.8%
11375
New York, NY
Typical home
$515,740
Gross yield
7.4%
07109
Silver Lake CDP, NJ
Typical home
$517,994
Gross yield
5.1%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 08723 against any other ZIP — full side-by-side table.

Compare 08723 →

#Jump to section

U.S. ZIP Code · NJ08723

Get more data on ZIPs like this

Get more data on ZIPs like this