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Penns Grove

Learn about the people, housing, costs and businesses in Penns Grove, New Jersey

Median Home$176,700
Median Rent$1,532/month
Population4,882
Leading IndustriesTransportation · Information & Media · Finance & Insurance5% transportation
Home Value Growth⬆⬆⬆+23.5% over 2 years
Family-Friendly36% of residentstop 1% nationally
Renters65% of occupied units
NotableAmenity Score68/100 · highly walkable area
Penns Grove
NJ

Frequently Asked Questions

What are today's mortgage rates in Penns Grove?

As of today, the 30-year fixed mortgage rate for Penns Grove is approximately 7.063% (7.104% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Penns Grove?

The median home value in Penns Grove is $177k. The median monthly rent is $1,532. Annual property taxes average $6k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Penns Grove?

Home values in Penns Grove have increased 23.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Penns Grove?

Based on a typical all-in ownership cost of $1,132/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $49k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Penns Grove is $60k/year.

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What industries drive the economy in Penns Grove?

The largest employment sectors in Penns Grove are public administration (24%) and retail (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.