Real Estate Investing in Carteret, New Jersey (07008)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07008 (Carteret, NJ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Carteret, NJ (07008)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07008 Carteret
ZIP 07008 inside Middlesex County looks affordable on the surface — median value of $568K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $2,457/mo on a $568K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 07008 sits below the stated 0.0% once reality is priced in.
Regionally, 07008 sits on the difficult end of the NJ spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 07008 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Distressed ZIPs reward experience. healthy returns are possible in 07008, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Carteret:
Property Strategy for 07008
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $523,544 | $3,230 | 4.4% | +9.9% | $174,515 |
| 4BR | $572,130 | $3,570 | 4.5% | +9.4% | $143,033 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07008 Compare?
| Metric | 07008 | Carteret | New Jersey |
|---|---|---|---|
| Home Value | $567,756 | $567,756 | $559,826 |
| 5-Year CAGR | 7.1% | 7.1% | 8.4% |
| Avg Rent | $2,457 | $2,457 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07008 (Carteret, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $567,756 |
| Monthly Rent | $2,457 |
| Price-to-Rent | 19.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 10.4% |
📈 Home Appreciation
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +7.0% ▲ |
| 5-Year CAGR | +7.1% ▲ |
| 10-Year CAGR | +8.3% ▲ |
🏠 Rent Trends
| 1-Year | -6.3% ▼ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07008
Population: 25,220
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07008
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Avenel Middle School
Matthew Jago Elementary School
Myles J. McManus MIddle School
Number 1
Number 2
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is housing expensive in Carteret, NJ?
Typical homes in Carteret, NJ go for around $568K. The 5-year CAGR of 0.0% steady price movement.
Are tenants stable in Carteret, NJ?
Expect a solid tenant pool in Carteret, NJ. The rental market absorbs $2,457/mo rents without meaningful friction.
Are landlord laws favorable in Carteret, NJ?
For rental operators, Carteret, NJ rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Does house hacking work in Carteret, NJ?
The a challenging house-hack environment in Carteret, NJ reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What real estate strategy is ideal for Carteret, NJ?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Carteret, NJ. The numbers - $568K homes against $2,457/mo rents - support that play.
You know 07008 now. You don’t know where it ranks.
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How 07008 ranks in New York-Newark-Jersey City, NY-NJ-PA
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