Commercial Real Estate Market in New Vernon, NJ
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
New Vernon, NJ spans 3.5 square miles in Morris County, New Jersey. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in New Vernon, NJ asks $200/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail space in New Vernon, NJ asks $325/SF to buy. Vacancy runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in New Vernon, NJ runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily vacancy in New Vernon, NJ runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
New Vernon, NJ has 479 residents in 148 households. Density runs 138 people per square mile. Median household income here is $110,985.
479
Population
148
Households
3.2
Avg Household Size
55
Median Age
52%
College-Educated
100%
High-School Grad
3.5 sq mi
ZIP Area
138
Density / Sq Mi
$110,985
Median Household Income
$100,530
Median Earnings
$0
Median Rent
$1,375,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Morristown | — | $22.10 |
| Bernardsville | — | $11.08 |
| Madison | — | — |
| Chatham Township | — | — |
Methodology & data sources
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
