Real Estate Investing in Short Hills, New Jersey (07078)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07078 (Short Hills, 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.
- High price-to-rent: Price-to-rent ratio 27.9 — hard to cash-flow at these prices.
What’s happening in Short Hills, NJ (07078)?
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Market Analysis: 07078 Short Hills
Meanwhile, ZIP 07078 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $2.4M median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 07078 clocks in at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 07078 among NJ's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
On the rental side, 14,183 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Short Hills:
Property Strategy for 07078
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $1,490,424 | $3,770 | 1.8% | +9.8% | $496,808 |
| 4BR | $1,926,352 | $4,280 | 1.6% | +10.7% | $481,588 |
| 5BR | $2,823,420 | — | — | +10.3% | $564,684 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07078 Compare?
| Metric | 07078 | Short Hills | New Jersey |
|---|---|---|---|
| Home Value | $2,412,277 | $2,412,277 | $559,826 |
| 5-Year CAGR | 9.2% | 9.2% | 8.4% |
| Avg Rent | $7,196 | $7,196 | - |
| Cap Rate | 2.3% | 2.3% | - |
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 07078 (Short Hills, NJ). Anonymous, moderated, never written by AI.
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Property managers serving Essex County
Manage rentals here? List your business →Associa Community Management Corporation of New Jersey is an HOA property management company serving Northern and Central New Jersey. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $2,412,277 |
| Monthly Rent | $7,196 |
| Price-to-Rent | 27.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 11.5% |
📈 Home Appreciation
| 1-Year | +11.6% ▲ |
| 3-Year CAGR | +9.3% ▲ |
| 5-Year CAGR | +9.2% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). 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 07078
Population: 14,183
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 07078
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Brayton Elementary School
Lincoln-Hubbard Elementary School
Washington Elementary School
Wyoming School
Jefferson Elementary School
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
Investor Insight: With 1,034 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in Short Hills, NJ?
Median home price in Short Hills, NJ is near $2.4M, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
How strong is Short Hills, NJ for real estate investors?
Short Hills, NJ rates 3.0/5 for investability. With median values at $2.4M and rents near $7,196/mo, the market offers reasonable fundamentals for rental investors.
Is it easy to find good tenants in Short Hills, NJ?
Tenant demand in Short Hills, NJ is solid. The local workforce $7,196/mo rents across most rental classes.
How landlord-friendly is Short Hills, NJ?
The landlord environment in Short Hills, NJ is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
Is Short Hills, NJ suited for a house hack?
The a tougher house-hack environment in Short Hills, NJ reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
You know 07078 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 07078 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 07078 ranks in New York-Newark-Jersey City, NY-NJ-PA
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