Montclair, NJ—07043
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 $1,293,000, with a year-over-year change of 6.9%. This indicates that home prices in Montclair, NJ are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,293,000 | 6.9% |
| Single Family | $1,335,000 | 6.6% |
| Condos | $458,000 | 7.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $383,000 | 3.5% |
2 Bed | N/A | N/A |
3 Bed | $1,067,000 | 4.1% |
4 Bed | $1,340,000 | 3.9% |
| 5 Bed | $1,780,000 | 6.4% |
% of Housing Stock
Rental Trends — Montclair, NJ
As of July '25, Rentcast reports the average rent in Montclair, NJ is $4,190, with a year-over-year rent change of 11.4%. Per bedroom, the median rent as of July '25 in Montclair, NJ is studios: $2,270, 1-bedrooms: $2,220, 2-bedrooms: $2,840, 3-bedrooms: $4,420, 4-bedrooms: $7,020. The most common rental property sizes in Montclair, NJ are 2-bedroom and 1-bedroom, accounting for 46.9% and 24.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $4,190 |
| Studio Rent | $2,500 | $2,270 |
| 1 Bed Rent | $2,400 | $2,220 |
| 2 Bed Rent | $2,800 | $2,840 |
| 3 Bed Rent | $4,300 | $4,420 |
| 4 Bed Rent | $6,750 | $7,020 |
% 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 13. This is a decrease of -15.0% 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 | $1,350,000 | 8.0% |
Listing Count | 20 | -34.0% |
| Listings as % of Homes | 0.3% | -34.0% |
Days on Market | 13 | -15.0% |
Demographics — Montclair, NJ
As of the latest ACS Survey released in 2023, Montclair, NJ has a population of 13,500, which has increased by 5.7% over the past 5 years. Montclair, NJ is a popular place for families, as children make up 28.9% of the population. The area has a highly educated workforce, with 84.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 38.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,500 | 5.7% |
% Under 18 | 28.9% | 1.8% |
% Seniors | 12.9% | 5.7% |
% WFH | 38.6% | 238.6% |
% w/ College Degree | 84.5% | 2.8% |
As of the latest ACS Survey released in 2023, Montclair, NJ is a predominantly white area, with 73.2% of the population identifying as white. The white population has shrunk by 7.1% in the last 5 years. The second most common race or ethnicity in Montclair, NJ is hispanic, making up 7.9% of the population. Foreign-born residents account for 10.7% of the population in Montclair, NJ, and this percentage has decreased by 14.4% 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 | 73.2% | -7.1% |
% Black | 5.5% | 5.8% |
% Hispanic | 7.9% | -4.8% |
% Asian | 5.1% | 13.3% |
% Foreign Born | 10.7% | -14.4% |
Mortgage and Risk — Montclair, NJ
According to HUD data as of 2023, there were 177 mortgage originations in Montclair, NJ, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 47.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Montclair, NJ. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 177 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Montclair, NJ
As of 2024, the percent of homes in Montclair, NJ under the Section 8 program is 0.5%. 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 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Montclair, NJ, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 0.5% |
% 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 | $400 | $2,800 | $3,200 |
| 3 Bedroom | -$280 | $4,300 | $4,020 |
| 4 Bedroom | -$2,150 | $6,750 | $4,600 |
Affordability — Montclair, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $1,293,000 |
| Median Household Income | $250,000 |