Bloomfield, NJ 07003 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Bloomfield, NJ—07003

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$580,000

2.4% YoY Growth

Household Income

$98,800

29.2% YoY Growth

Days on Market

8.0% Longer YoY

Home Price Forecast

1.2%

Median Rent

$2,300

13.1% YoY Growth

1-Bed Rent

$1,800

17.1% YoY Growth

2-Bed Rent

$2,400

10.9% YoY Growth

3-Bed Rent

$2,850

2.0% YoY Growth

Home Price Trends — Bloomfield, NJ

As of Dec '25, the median home price in Bloomfield, NJ is $580,000, with a year-over-year change of 2.4%. This indicates that home prices in Bloomfield, NJ are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$580,000	2.4%
Single Family	$602,000	2.0%
Condos	$280,000	2.2%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Bloomfield, NJ

As of July '25, Rentcast reports the average rent in Bloomfield, NJ is $2,320, with a year-over-year rent change of -13.1%. Per bedroom, the median rent as of July '25 in Bloomfield, NJ is studios: $1,500, 1-bedrooms: $1,790, 2-bedrooms: $2,530, 3-bedrooms: $2,880, 4-bedrooms: $3,610. The most common rental property sizes in Bloomfield, NJ are 1-bedroom and 2-bedroom, accounting for 40.5% and 35.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,300	$2,320
Studio Rent	$1,300	$1,500
1 Bed Rent	$1,800	$1,790
2 Bed Rent	$2,400	$2,530
3 Bed Rent	$2,850	$2,880
4 Bed Rent	$3,100	$3,610

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% of Rental Stock

Studio

8.9%

1 Bedroom

40.5%

2 Bedrooms

35.8%

3 Bedrooms

12.0%

4 Bedrooms

1.8%

5+ Bedrooms

1.0%

Property Listings — Bloomfield, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Bloomfield, NJ is 38. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 6.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$594,000	6.0%
Listing Count	58	-1.0%
Listings as % of Homes	0.2%	-1.0%
Days on Market	45	8.0%

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Demographics — Bloomfield, NJ

As of the latest ACS Survey released in 2023, Bloomfield, NJ has a population of 52,900, which has increased by 8.4% over the past 5 years. Bloomfield, NJ is a moderately popular place for families, as children make up 19.0% of the population. The area has a highly educated workforce, with 48.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.1% reporting working from home.

Metric	Latest Census	YoY % Change
Population	52,900	8.4%
% Under 18	19.0%	-8.7%
% Seniors	14.6%	9.0%
% WFH	18.1%	432.4%
% w/ College Degree	48.6%	20.6%

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As of the latest ACS Survey released in 2023, Bloomfield, NJ is a predominantly white area, with 39.4% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Bloomfield, NJ is hispanic, making up 28.2% of the population. Foreign-born residents account for 23.8% of the population in Bloomfield, NJ, and this percentage has decreased by 8.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	39.4%	-5.7%
% Black	17.8%	-11.0%
% Hispanic	28.2%	-1.4%
% Asian	9.8%	11.4%
% Foreign Born	23.8%	-8.5%

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Mortgage and Risk — Bloomfield, NJ

According to HUD data as of 2023, there were 570 mortgage originations in Bloomfield, NJ, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in Bloomfield, NJ. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	570
% Conventional Loans	78.0%
% Government Loans	22.0%
% Investor Loans	2.0%
% Second Loans	1.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Bloomfield, NJ

As of 2024, the percent of homes in Bloomfield, NJ under the Section 8 program is 5.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Bloomfield, NJ, because HUD payments exceed market rent, while 2-bedroom units do not.

Section 8 Market Size

Total Units under HUD	575
Total Units Section 8	568
% Rentals under Section 8	5.4%
% Occupied Section 8	91.8%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$90	$1,800	$1,890
2 Bedroom	-$110	$2,400	$2,290
3 Bedroom	$30	$2,850	$2,880
4 Bedroom	$180	$3,100	$3,280

Bloomfield, NJ—07003

Key Metrics at a Glance

Home Price Trends — Bloomfield, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bloomfield, NJ

% of Rental Stock

Property Listings — Bloomfield, NJ

Demographics — Bloomfield, NJ

Race and Ethnicity

Mortgage and Risk — Bloomfield, NJ

Mortgages

Rentals and Section 8 — Bloomfield, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Bloomfield, NJ

Home Price to Income Ratio

Bloomfield, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Glen Ridge, NJ

Belleville, NJ

Nutley, NJ

Montclair, NJ

Montclair, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.8
Median Home Price	$580,000
Median Household Income	$98,800

Bloomfield, NJ—07003

Key Metrics at a Glance

Home Price Trends — Bloomfield, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Bloomfield, NJ

% of Rental Stock

Property Listings — Bloomfield, NJ

Demographics — Bloomfield, NJ

Race and Ethnicity

Mortgage and Risk — Bloomfield, NJ

Mortgages

Rentals and Section 8 — Bloomfield, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Bloomfield, NJ

Home Price to Income Ratio

Bloomfield, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Glen Ridge, NJ

Belleville, NJ

Nutley, NJ

Montclair, NJ

Montclair, NJ

Frequently Asked Questions

What is the average home price in Bloomfield, NJ 07003?

How have home prices in Bloomfield, NJ 07003 changed over the past year?

What is the home price projection for Bloomfield, NJ 07003?

What are the demographics of Bloomfield, NJ 07003?

How long does it take homes to sell in Bloomfield, NJ 07003?

What is the average rent price in Bloomfield, NJ 07003?