Montclair, NJ—07042
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Montclair, NJ
Home Price Trends — Montclair, NJ
As of Oct '25, the median home price in Montclair, NJ is $877,000, with a year-over-year change of 3.1%. This indicates that home prices in Montclair, NJ are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $877,000 | 3.1% |
| Single Family | $1,033,000 | 4.0% |
| Condos | $440,000 | 3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $351,000 | 1.4% |
2 Bed | $529,000 | -0.4% |
3 Bed | $753,000 | 2.6% |
4 Bed | $1,168,000 | 3.5% |
| 5 Bed | $1,689,000 | 5.4% |
% of Housing Stock
Rental Trends — Montclair, NJ
As of July '25, Rentcast reports the average rent in Montclair, NJ is $3,150, with a year-over-year rent change of 4.0%. Per bedroom, the median rent as of July '25 in Montclair, NJ is studios: $1,800, 1-bedrooms: $2,160, 2-bedrooms: $2,990, 3-bedrooms: $4,070, 4-bedrooms: $4,960. The most common rental property sizes in Montclair, NJ are 2-bedroom and 1-bedroom, accounting for 40.9% and 40.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,800 | $3,150 |
| Studio Rent | $1,750 | $1,800 |
| 1 Bed Rent | $2,050 | $2,160 |
| 2 Bed Rent | $2,800 | $2,990 |
| 3 Bed Rent | $3,900 | $4,070 |
| 4 Bed Rent | $4,950 | $4,960 |
% of Rental Stock
Property Listings — Montclair, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Montclair, NJ is 24. This is a decrease of -23.0% 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 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $950,000 | -16.0% |
Listing Count | 53 | 0.0% |
| Listings as % of Homes | 0.3% | 0.0% |
Days on Market | 24 | -23.0% |
Demographics — Montclair, NJ
As of the latest ACS Survey released in 2023, Montclair, NJ has a population of 27,200, which has increased by 4.4% over the past 5 years. Montclair, NJ is a popular place for families, as children make up 25.5% of the population. The area has a highly educated workforce, with 67.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,200 | 4.4% |
% Under 18 | 25.5% | 9.4% |
% Seniors | 14.0% | 8.5% |
% WFH | 29.3% | 337.3% |
% w/ College Degree | 67.1% | 4.2% |
As of the latest ACS Survey released in 2023, Montclair, NJ is a predominantly white area, with 48.3% of the population identifying as white. The white population has shrunk by 2.6% in the last 5 years. The second most common race or ethnicity in Montclair, NJ is black, making up 24.6% of the population. Foreign-born residents account for 14.7% of the population in Montclair, NJ, and this percentage has increased by 3.5% 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 | 48.3% | -2.6% |
% Black | 24.6% | -25.5% |
% Hispanic | 13.0% | 13.0% |
% Asian | 6.0% | 87.5% |
% Foreign Born | 14.7% | 3.5% |
Mortgage and Risk — Montclair, NJ
According to HUD data as of 2023, there were 346 mortgage originations in Montclair, NJ, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Montclair, 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 | 346 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Montclair, NJ
As of 2024, the percent of homes in Montclair, NJ under the Section 8 program is 12.9%. 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 units appear to be good home sizes to consider for Section 8 housing in Montclair, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 754 |
Total Units Section 8 | 707 |
% Rentals under Section 8 | 12.9% |
% Occupied Section 8 | 73.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $210 | $2,050 | $2,260 |
| 2 Bedroom | -$70 | $2,800 | $2,730 |
| 3 Bedroom | -$460 | $3,900 | $3,440 |
| 4 Bedroom | -$1,040 | $4,950 | $3,910 |
Affordability — Montclair, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6 |
| Median Home Price | $877,000 |
| Median Household Income | $127,000 |