Fairfield, NJ 07004 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Fairfield, NJ—07004

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$775,000

1.6% YoY Growth

Household Income

$114,000

3.4% YoY Growth

Days on Market

70.0% Longer YoY

Home Price Forecast

1.6%

Median Rent

$2,950

16.7% YoY Growth

1-Bed Rent

$2,400

0.0% YoY Growth

2-Bed Rent

$3,300

0.7% YoY Growth

3-Bed Rent

$3,500

12.5% YoY Growth

Home Price Trends — Fairfield, NJ

As of Dec '25, the median home price in Fairfield, NJ is $775,000, with a year-over-year change of 1.6%. This indicates that home prices in Fairfield, NJ are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$775,000	1.6%
Single Family	$795,000	2.3%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Fairfield, NJ

As of July '25, Rentcast reports the average rent in Fairfield, NJ is $2,900, with a year-over-year rent change of -16.7%. Per bedroom, the median rent as of July '25 in Fairfield, NJ is studios: $2,000, 1-bedrooms: $2,500, 2-bedrooms: $3,080, 3-bedrooms: $3,500, 4-bedrooms: $4,000. The most common rental property sizes in Fairfield, NJ are 2-bedroom and 1-bedroom, accounting for 53.9% and 34.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,950	$2,900
Studio Rent	$2,000	$2,000
1 Bed Rent	$2,400	$2,500
2 Bed Rent	$3,300	$3,080
3 Bed Rent	$3,500	$3,500
4 Bed Rent	$3,800	$4,000

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% of Rental Stock

1 Bedroom

34.3%

2 Bedrooms

53.9%

3 Bedrooms

11.8%

Property Listings — Fairfield, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Fairfield, NJ is 51. This is a increase of 74.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$886,000	12.0%
Listing Count	8	-7.0%
Listings as % of Homes	0.3%	-7.0%
Days on Market	58	70.0%

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Demographics — Fairfield, NJ

As of the latest ACS Survey released in 2023, Fairfield, NJ has a population of 7,710, which has increased by 5.2% over the past 5 years. Fairfield, NJ is a moderately popular place for families, as children make up 20.7% of the population. The area has a highly educated workforce, with 51.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	7,710	5.2%
% Under 18	20.7%	-1.4%
% Seniors	31.1%	38.8%
% WFH	12.3%	17.1%
% w/ College Degree	51.5%	11.0%

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As of the latest ACS Survey released in 2023, Fairfield, NJ is a predominantly white area, with 84.6% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Fairfield, NJ is hispanic, making up 10.1% of the population. Foreign-born residents account for 13.3% of the population in Fairfield, NJ, and this percentage has decreased by 7.0% 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	84.6%	-2.2%
% Black	1.2%	∞%
% Hispanic	10.1%	24.7%
% Asian	2.7%	-37.2%
% Foreign Born	13.3%	-7.0%

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Mortgage and Risk — Fairfield, NJ

According to HUD data as of 2023, there were 128 mortgage originations in Fairfield, NJ, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Fairfield, NJ. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	128
% Conventional Loans	95.0%
% Government Loans	5.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	9.0%

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Rentals and Section 8 — Fairfield, NJ

As of 2024, the percent of homes in Fairfield, NJ under the Section 8 program is 0.6%. 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 Fairfield, NJ, because HUD payments exceed market rent, while 2-bedroom units do not.

Section 8 Market Size

Total Units under HUD	6
Total Units Section 8	6
% Rentals under Section 8	0.6%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$250	$2,400	$2,650
2 Bedroom	-$90	$3,300	$3,210
3 Bedroom	$540	$3,500	$4,040
4 Bedroom	$800	$3,800	$4,600

Fairfield, NJ—07004

Key Metrics at a Glance

Home Price Trends — Fairfield, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Fairfield, NJ

% of Rental Stock

Property Listings — Fairfield, NJ

Demographics — Fairfield, NJ

Race and Ethnicity

Mortgage and Risk — Fairfield, NJ

Mortgages

Rentals and Section 8 — Fairfield, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Fairfield, NJ

Home Price to Income Ratio

Fairfield, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

West Caldwell, NJ

Pine Brook, NJ

Lincoln Park, NJ

Towaco, NJ

Essex Fells, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.8
Median Home Price	$775,000
Median Household Income	$114,000

Fairfield, NJ—07004

Key Metrics at a Glance

Home Price Trends — Fairfield, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Fairfield, NJ

% of Rental Stock

Property Listings — Fairfield, NJ

Demographics — Fairfield, NJ

Race and Ethnicity

Mortgage and Risk — Fairfield, NJ

Mortgages

Rentals and Section 8 — Fairfield, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Fairfield, NJ

Home Price to Income Ratio

Fairfield, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

West Caldwell, NJ

Pine Brook, NJ

Lincoln Park, NJ

Towaco, NJ

Essex Fells, NJ

Frequently Asked Questions

What is the average home price in Fairfield, NJ 07004?

How have home prices in Fairfield, NJ 07004 changed over the past year?

What is the home price projection for Fairfield, NJ 07004?

What are the demographics of Fairfield, NJ 07004?

How long does it take homes to sell in Fairfield, NJ 07004?

What is the average rent price in Fairfield, NJ 07004?