How much is a home worth in ZIP code 08831?

The typical home in 08831 is worth $603,255, based on the Zillow Home Value Index.

Are home values rising in 08831?

Home values in 08831 are up 2.0% over the past year, and up 6.8% a year over five years.

What is the typical rent in 08831?

A typical home in 08831 rents for about $3,177 a month, a gross rental yield of 6.3%.

What is the property tax rate in 08831?

The effective property tax rate in 08831 is 1.8% — roughly $10,677 a year on a typical home.

ZIP code 08831 has a population of 55,658 and a median household income of $109,042.

HousingHandbookReference data

…

U.S. ZIP Code · NJ08831

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

Typical home value

$603,255^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.0%
5-year / yr: +6.8%
10-year / yr: +5.7%

Relative price

vs U.S.: +112.4%
vs metro: -17.3%
vs state: +5.9%

Price history

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

The typical home in 08831 is worth $603,255 — 17.3% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 2.0%. Homes here rent for a typical $3,177 a month — a 6.3% gross rental yield. The effective property tax rate is 1.8%.

#Rent & investment

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

Monthly rent: $3,177^[2]
Gross yield: 6.3%^[2]
Cap rate: 3.8%^[2]

#Property tax

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

Effective tax rate: 1.8%^[3]
Typical annual tax: $10,677^[3]

#Climate risk

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

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

#Who lives here

Population: 55,658^[3]
Median household income: $109,042^[3]

#Migration

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

Net migration: -3,628^[5]
Moved in: 21,716
Moved out: 25,344

Schools

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

Public schools: 12
Elementary: 7
Middle: 2
High: 2

Monroe Township High School
High · Grades 9–12 · Monroe Township School District
2,620 students
Monroe Township Middle School
Middle · Grades 6–8 · Monroe Township School District
1,704 students
Oak Tree Elementary School
Elementary · Grades PK–3 · Monroe Township School District
588 students
Mill Lake
Elementary · Grades PK–3 · Monroe Township School District
479 students
John F. Kennedy Elementary School
Elementary · Grades PK–5 · Jamesburg Public School District
467 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 yield6.3%

Net yield (after ~40% expenses)3.8%

Annual rent$38,119

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$3,050

Loan principal$482,604

Down payment$120,651

Total interest paid$615,535

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 ratio1.40

Monthly cost to own$4,443

Monthly rent$3,177

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: 67th percentile^[1]
Rental yield: 84th percentile^[2]
Property tax: 51st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 08831?: The typical home in 08831 is worth $603,255, based on the Zillow Home Value Index.
Are home values rising in 08831?: Home values in 08831 are up 2.0% over the past year, and up 6.8% a year over five years.
What is the typical rent in 08831?: A typical home in 08831 rents for about $3,177 a month, a gross rental yield of 6.3%.
What is the property tax rate in 08831?: The effective property tax rate in 08831 is 1.8% — roughly $10,677 a year on a typical home.
Who lives in 08831?: ZIP code 08831 has a population of 55,658 and a median household income of $109,042.

#Comparable ZIPs

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

08802 vs 08831 →
Asbury CDP, NJ
Typical home
$603,041
Gross yield
—
10548 vs 08831 →
Montrose CDP, NY
Typical home
$603,029
Gross yield
—
11717
Brentwood CDP, NY
Typical home
$605,058
Gross yield
—
08876
Somerville, NJ
Typical home
$600,821
Gross yield
4.8%
10703
Yonkers, NY
Typical home
$606,044
Gross yield
5.9%
11713
North Bellport CDP, NY
Typical home
$606,258
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ08831

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