Lower, NJ housing market
Home prices around Lower have risen about 91% over the past 5 years. Builders were permitted 87 new homes in 2025.
Home values, sales, trends and how Lower compares with the towns next door — updated as new data is published.
Home prices up 91% in 5 years
The federal house price index for the ZIP codes around Lower rose 91% over the past 5 years, faster than across New Jersey (63%). Last year prices rose 7.9%. Carrying the Census median home value forward with that index puts the typical Lower home at roughly $804,000 today.
Show as a table
| Year | Change that year | Since 2000 | New Jersey since 2000 |
|---|---|---|---|
| 2025 | +7.9% | +374% | +191% |
| 2024 | +10% | +340% | +174% |
| 2023 | +13% | +298% | +152% |
| 2022 | +22% | +251% | +128% |
| 2021 | +16% | +189% | +98% |
| 2020 | +7.6% | +148% | +79% |
| 2019 | +7% | +130% | +73% |
| 2018 | +6.2% | +115% | +68% |
| 2017 | +3.3% | +103% | +62% |
| 2016 | +2.3% | +96% | +59% |
| 2015 | +2.2% | +92% | +55% |
| 2014 | −1.4% | +88% | +52% |
| 2013 | +0.8% | +90% | +48% |
| 2012 | −3.5% | +89% | +47% |
| 2011 | −3.4% | +96% | +52% |
| 2010 | −5.9% | +103% | +59% |
| 2009 | −6.6% | +115% | +66% |
| 2008 | −4.9% | +131% | +81% |
| 2007 | −3.7% | +142% | +90% |
| 2006 | +10% | +152% | +91% |
| 2005 | +23% | +128% | +75% |
| 2004 | +21% | +86% | +51% |
| 2003 | +15% | +53% | +31% |
| 2002 | +18% | +34% | +22% |
| 2001 | +14% | +14% | +9.7% |
| 2000 | — | — | — |
How Lower ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 08204, 08260, 08251, 08242, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
87 new homes permitted in 2025
Builders were permitted 87 new homes in Lower in 2025: 83 single-family houses and 4 in buildings with two or more homes, worth about $17 million to build. That's 4 per 1,000 residents, faster than across New Jersey (3.1). Over the past 10 years, Lower has permitted 576 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Lower's population fell by 809 even though 286 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. 28% of Lower's homes are seasonal or vacation homes, which adds housing without adding residents. Across New Jersey: 2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 44 | 42 | 2 | $10.5 million |
| 2025 | 87 | 83 | 4 | $17 million |
| 2024 | 62 | 52 | 10 | $16.3 million |
| 2023 | 56 | 52 | 4 | $7.9 million |
| 2022 | 54 | 54 | 0 | $9.3 million |
| 2021 | 78 | 70 | 8 | $7.5 million |
| 2020 | 65 | 58 | 7 | $6.5 million |
| 2019 | 104 | 51 | 53 | $8.4 million |
| 2018 | 25 | 25 | 0 | $5.3 million |
| 2017 | 23 | 23 | 0 | $4.8 million |
| 2016 | 22 | 22 | 0 | $4.8 million |
| 2015 | 18 | 18 | 0 | $3.9 million |
| 2014 | 30 | 28 | 2 | $5.2 million |
| 2013 | 21 | 21 | 0 | $3.1 million |
| 2012 | 9 | 9 | 0 | $1.2 million |
| 2011 | 14 | 14 | 0 | $2.6 million |
| 2010 | 20 | 20 | 0 | $3.2 million |
| 2009 | 110 | 18 | 92 | $11.6 million |
| 2008 | 23 | 14 | 9 | $6 million |
| 2007 | 246 | 36 | 210 | $27.7 million |
| 2006 | 68 | 46 | 22 | $16.9 million |
| 2005 | 85 | 73 | 12 | $9.8 million |
| 2004 | 107 | 99 | 8 | $12.3 million |
| 2003 | 110 | 81 | 29 | $9.9 million |
| 2002 | 126 | 118 | 8 | $11.1 million |
| 2001 | 138 | 123 | 15 | $11.7 million |
| 2000 | 98 | 70 | 28 | $8.7 million |
Lower's permit office reported 11 of 12 months in 2025; the Census estimated the rest.
How Lower ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Lower and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Lower | — | +7.9%† | $1,690 | 87 | $84,962 |
| Cape May | $745K | +8.1% | $1,630 | 23 | $62,576 |
| Middle | — | +4.1%† | $1,930 | 148 | $83,508 |
| Wildwood Crest | — | +7.7%† | $1,610 | 65 | $69,089 |
| West Cape May | — | +9.6%† | $1,630 | 23 | $91,250 |
| Cape May Point | $1.63M | +14.3% | $1,630 | 17 | $86,125 |
| Wildwood | $639K | +8.9% | $1,610 | 96 | $75,222 |
† FHFA price index change, where Zillow has no home value for the town.
4.3 years of income
The typical Lower home costs about 4.3 years of the town's median household income, less than across New Jersey (5.6 years).
How Lower ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,690
HUD's Fair Market Rent for a two-bedroom in Lower is $1,690 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Lower pay a median of $1,386, so moving in tends to cost more than staying put. A two-bedroom takes about 24% of the town's median household income.
Studio $1,240 · 4 bedrooms $2,260
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (08204, 08242, 08251, 08260; Cape May County, NJ HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.