Garwood, NJ real estate: the numbers, explained.

Home values in Garwood

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

Zillow’s Home Value Index for Garwood was $679,379 as of September 30, 2026, up 2.8% from a year earlier and up 34.9% over five years. Over ten years the index rose 74.2%. 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 $735,799 across 18 sales used in that report. That is a small sample, so treat it as a rough marker. 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 $533,300 (2020–2024 average), compared with a Union County town median of $533,300.

Garwood property taxes

Garwood’s 2025 general tax rate was 2.858 per $100 of assessed value, and its effective tax rate was 2.059%, about the same as the Union County town median of 2.113% and lower than the statewide municipal median of 2.141%. That ranks it #9 lowest of 21 Union County municipalities by effective rate. The average residential tax bill was $11,725 on an average assessment of $410,264 across 1,315 residential properties.

Applied to the typical home value of $679,379, the effective rate implies roughly $13,988 a year ($1,166 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 $679,379 home with 20% down ($135,876) 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 $3,682 a month. With estimated property tax that’s about $4,848, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Garwood is $1,753.

Run my numbers for GarwoodRent vs buy here

Who lives in Garwood

About 4,885 people live in Garwood. 54.4% of occupied homes are owner-occupied (county town median 68.3%). 46.7% of housing units are single-family detached houses. The median resident age is 42.3, and 45.2% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $110,670, lower than the county town median of $119,464.

The median home in Garwood was built in 1953. Much of the housing predates 1978, so buyers should plan for older-home checks: lead-based paint disclosure, an oil-tank sweep if the house ever had oil heat, knob-and-tube or older electrical, galvanized plumbing, and a sewer-line scope. See the NJ inspection checklist.

Commuting from Garwood

Workers in Garwood average 29.6 minutes each way (those who don’t work from home), shorter than the Union County town median of 31.5 minutes. 7.8% commute by public transportation, so transit is a real option for some commuters and 17.1% work from home.

Schools

I don’t republish unofficial school scores. For Garwood, 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 Garwood’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

• Renters: with 45.6% of homes renter-occupied, Garwood has a deep rental market. Line up documents before touring. The move-in calculator shows the cash you’ll need.
• Buyers: a below-county-median effective tax rate stretches your budget further here than in many Union towns. Compare with the town comparison tool.
• Sellers: values are up 34.9% in five years, so many owners have significant equity. See your number in the seller net sheet.
• Low turnover: about 18 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