Cranbury, NJ real estate: the numbers, explained.

Home values in Cranbury

Zillow Home Value Index (all homes, middle tier, smoothed, seasonally adjusted) for the Zillow region “Cranbury Township”, September 30 of each year. Source: Zillow Research.

Zillow’s Home Value Index for Cranbury Township was $970,814 as of September 30, 2026, up 3.6% from a year earlier and up 28.7% over five years. Over ten years the index rose 50.9%. ZHVI models a typical home value. It isn’t the price of any specific house.

The NJ Division of Taxation’s 2026 Average Residential Statistics show an average residential sale price of $1,041,945 across 29 sales used in that report. Averages can be pulled up or down by a few sales, which is one reason it can differ from Zillow’s index.

The Census Bureau’s survey puts the median value of owner-occupied homes, as estimated by owners, at $889,400 (2020–2024 average), compared with a Middlesex County town median of $446,400.

Cranbury property taxes

Cranbury’s 2025 general tax rate was 1.836 per $100 of assessed value, and its effective tax rate was 1.454%, lower than the Middlesex County town median of 2.098% and lower than the statewide municipal median of 2.141%. That ranks it #1 lowest of 25 Middlesex County municipalities by effective rate. The average residential tax bill was $11,281 on an average assessment of $614,433 across 1,265 residential properties.

Applied to the typical home value of $970,814, the effective rate implies roughly $14,116 a year ($1,176 a month) in property tax. The Division publishes the effective rate for comparing towns, not for computing a specific bill, so use it as a ballpark.

What it costs to own vs. rent

For a $970,814 home with 20% down ($194,163) and a 30-year fixed loan at 7.18%, Freddie Mac’s national average for the week of November 5, 2026, principal and interest come to about $5,261 a month. With estimated property tax that’s about $6,438, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Cranbury is $1,603.

Run my numbers for CranburyRent vs buy here

Who lives in Cranbury

About 4,012 people live in Cranbury. 85.5% of occupied homes are owner-occupied (county town median 65.6%), so the market is mostly owner-occupied single homes. 77.3% of housing units are single-family detached houses. The median resident age is 49, and 73.4% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $216,691, higher than the county town median of $107,892.

The median home in Cranbury was built in 1988. Newer housing stock usually means fewer legacy issues like buried oil tanks or lead paint, but still inspect roofs, HVAC age and drainage, and check any HOA’s finances.

Commuting from Cranbury

Workers in Cranbury average 32.9 minutes each way (those who don’t work from home), longer than the Middlesex County town median of 31.7 minutes. 3.9% commute by public transportation, so most commuters drive and 35.8% work from home.

Schools

I don’t republish unofficial school scores. For Cranbury, start with the New Jersey Department of Education’s School Performance Reports, then confirm the exact school assignment for any address with the district, since some NJ towns send students to regional or neighboring high schools. See how to research NJ schools.

Downtown, food and things to do

The best way to judge Cranbury’s restaurants, parks and weekend life is in person. Visit on a weeknight and a Saturday morning, check the town recreation calendar and walk the blocks you’d live on. My town scouting checklist shows what to look for.

My take for buyers, sellers and renters

• Buyers: a below-county-median effective tax rate stretches your budget further here than in many Middlesex towns. Compare with the town comparison tool.
• Sellers: values are up 28.7% in five years, so many owners have significant equity. See your number in the seller net sheet.
• Low turnover: about 29 residential sales were in the state’s 2026 report, so good listings can be scarce. Set alerts and be ready to act.

Nearby towns at a similar price