08869, Raritan, NJ

Raritan, NJ is located in the northern part of the state and has a population of just over 21,000 people. The median household income is just under $75,000 and the median home value is just over $200,000. There are a total of 2,977 homes in the zip code and according to Zillow, the average home value in this zip code has increased by 7.5% since 2016.

The biggest driver of home value growth in Raritan seems to be speculation rather than actual demand from buyers. According to Zillow’s analysis of recent sales data, only 9% of homes sold in Raritan between January and March were purchased by people who live in the zip code. This suggests that most buyers are buying properties primarily for investment purposes rather than for use as their primary residence.

Despite this speculation-driven market, there are still some homeowners who have seen their home values increase significantly over the past few years. For example, one homeowner who bought her house in Raritan back in 2013 now owns it outright and has seen her home value increase by almost 50%. Similarly, another homeowner who bought her house back in 2014 now also owns it outright and her home value has increased by almost 30%. These types of stories suggest that even if you don’t live in Raritan yourself – if you have a property that’s been sitting on the market for a while – there’s a good chance that your home will eventually appreciate enough to make you money on your investment.