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Affordable
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These days, finding an affordable place to live in the Red Bank area can be challenging. Home prices in Red Bank are now at a median cost of $562,173, higher than the New Jersey average of $496,577.
The average cost of rent is $2,244/mo in Red Bank, primarily driven by the current value of real estate in the Red Bank area. In Red Bank, 33.30% of households rent, and 36.51% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Red Bank is $9,993 per month. Households that rent pay about 22.45% of their income on rent here. Red Bank’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Shrewsbury, NJ: higher priced homes
- Fair Haven, NJ: higher priced homes
- Little Silver, NJ: higher priced homes
- Lincroft, NJ: higher priced homes
- Fort Monmouth, NJ: less expensive homes
- Rumson, NJ: higher priced homes
- Eatontown, NJ: less expensive homes
- Middletown, NJ: equally priced homes
- Oceanport, NJ: higher priced homes
- Leonardo, NJ: less expensive homes
Cities with Similar Populations
- Crystal, MN: less expensive homes
- Tullahoma, TN: less expensive homes
- Trotwood, OH: less expensive homes
- Tipp City, OH: less expensive homes
- Tavares, FL: less expensive homes
- Farragut, TN: equally priced homes
- Eastmont, WA: higher priced homes
- East Renton Highlands, WA: higher priced homes
- East Moline, IL: less expensive homes
- Dover, NJ: less expensive homes
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