Essex Fells, NJ—07021
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Essex Fells, NJ
As of Oct '25, the median home price in Essex Fells, NJ is $1,358,000, with a year-over-year change of 4.8%. This indicates that home prices in Essex Fells, NJ are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,358,000 | 4.8% |
| Single Family | $1,386,000 | 5.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | $1,949,000 | 5.4% |
% of Housing Stock
Rental Trends — Essex Fells, NJ
As of July '25, Rentcast reports the average rent in Essex Fells, NJ is $5,180, with a year-over-year rent change of 31.5%. Per bedroom, the median rent as of July '25 in Essex Fells, NJ is 2-bedrooms: $3,100. The most common rental property sizes in Essex Fells, NJ are 2-bedroom and 5+ bedroom, accounting for 34.8% and 26.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,100 | $5,180 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $3,100 | $3,100 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Essex Fells, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Essex Fells, NJ is 29. This is a decrease of -16.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,750,000 | -6.0% |
Listing Count | 10 | -11.0% |
| Listings as % of Homes | 0.9% | -11.0% |
Days on Market | 29 | -16.0% |
Demographics — Essex Fells, NJ
As of the latest ACS Survey released in 2023, Essex Fells, NJ has a population of 2,320, which has increased by 6.4% over the past 5 years. Essex Fells, NJ is a popular place for families, as children make up 31.5% of the population. The area has a highly educated workforce, with 81.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,320 | 6.4% |
% Under 18 | 31.5% | 16.7% |
% Seniors | 16.5% | -19.5% |
% WFH | 32.5% | 424.2% |
% w/ College Degree | 81.5% | 0.7% |
As of the latest ACS Survey released in 2023, Essex Fells, NJ is a predominantly white area, with 78.5% of the population identifying as white. The white population has shrunk by 10.7% in the last 5 years. The second most common race or ethnicity in Essex Fells, NJ is hispanic, making up 13.0% of the population. Foreign-born residents account for 10.7% of the population in Essex Fells, NJ, and this percentage has increased by 94.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 78.5% | -10.7% |
% Black | 1.9% | ∞% |
% Hispanic | 13.0% | 120.3% |
% Asian | 4.6% | 31.4% |
% Foreign Born | 10.7% | 94.5% |
Mortgage and Risk — Essex Fells, NJ
According to HUD data as of 2023, there were 40 mortgage originations in Essex Fells, NJ, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 45.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Essex Fells, NJ. Investor activity is low, as 0.0% 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 | 40 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 0.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Essex Fells, NJ
Essex Fells, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,300 |
| 2 Bedroom | -$320 | $3,100 | $2,780 |
| 3 Bedroom | N/A | N/A | $3,500 |
| 4 Bedroom | N/A | N/A | $3,990 |
Affordability — Essex Fells, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $1,358,000 |
| Median Household Income | $250,000 |