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Preakness

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

Median Home$537,832
Median Rent$1,819/month
Population18,309
Leading IndustriesArts, Food & Hospitality · Healthcare · Public Administration13% arts, food & hospitality
Home Value Growth⬆⬆+16.6% over 2 years
Family-Friendly23% of residentsnear the national average
Homeowners71% of occupied units
NotableHighly Educated33% bachelor's · 17% graduate · top 5% nationally
NotableHigh Incomes$132k/year · top 6% nationally
Preakness
NJ

Frequently Asked Questions

What are today's mortgage rates in Preakness?

As of today, the 30-year fixed mortgage rate for Preakness is approximately 6.820% (6.853% 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 Preakness?

The median home value in Preakness is $538k. The median monthly rent is $1,819. Annual property taxes average $9k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Preakness?

Home values in Preakness have increased 16.6% 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 Preakness?

Based on a typical all-in ownership cost of $2,245/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $96k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Preakness is $132k/year.

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What industries drive the economy in Preakness?

The largest employment sectors in Preakness are public administration (31%) and healthcare (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.