Union, NJ—07088
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Union, NJ
Home Price Trends — Union, NJ
As of Oct '25, the median home price in Union, NJ is $477,000, with a year-over-year change of 2.4%. This indicates that home prices in Union, NJ are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $477,000 | 2.4% |
| Single Family | $481,000 | 0.8% |
| 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 | $499,000 | 2.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Union, NJ
As of July '25, Rentcast reports the average rent in Union, NJ is $2,490, with a year-over-year rent change of 0.4%. Per bedroom, the median rent as of July '25 in Union, NJ is 1-bedrooms: $1,920, 2-bedrooms: $1,950, 3-bedrooms: $2,900, 4-bedrooms: $3,080. The most common rental property sizes in Union, NJ are 2-bedroom and 5+ bedroom, accounting for 41.2% and 16.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,150 | $2,490 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,850 | $1,920 |
| 2 Bed Rent | $1,850 | $1,950 |
| 3 Bed Rent | $2,900 | $2,900 |
| 4 Bed Rent | $3,200 | $3,080 |
% of Rental Stock
Property Listings — Union, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Union, NJ is 124. This is a increase of 193.0% 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 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $520,000 | 4.0% |
Listing Count | 4 | 0.0% |
| Listings as % of Homes | 0.5% | 0.0% |
Days on Market | 124 | 193.0% |
Demographics — Union, NJ
As of the latest ACS Survey released in 2023, Union, NJ has a population of 3,080, which has decreased by -1.6% over the past 5 years. Union, NJ is a moderately popular place for families, as children make up 18.5% of the population. The area has a moderately educated workforce, with 32.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,080 | -1.6% |
% Under 18 | 18.5% | 33.1% |
% Seniors | 17.8% | -18.7% |
% WFH | 5.3% | 96.3% |
% w/ College Degree | 32.1% | 75.4% |
As of the latest ACS Survey released in 2023, Union, NJ is a predominantly black area, with 69.5% of the population identifying as black. The black population has shrunk by 13.1% in the last 5 years. The second most common race or ethnicity in Union, NJ is hispanic, making up 19.1% of the population. Foreign-born residents account for 25.7% of the population in Union, NJ, and this percentage has increased by 89.0% 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 | 8.2% | -5.7% |
% Black | 69.5% | -13.1% |
% Hispanic | 19.1% | 101.1% |
% Asian | 1.3% | -18.8% |
% Foreign Born | 25.7% | 89.0% |
Mortgage and Risk — Union, NJ
According to HUD data as of 2023, there were 37 mortgage originations in Union, NJ, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 46.0% above 90% LTV (very high). This implies large mortgage risk in Union, NJ. Investor activity is low, as 5.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 37 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 5.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Union, NJ
As of 2024, the percent of homes in Union, NJ under the Section 8 program is 14.6%. 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. In Union, NJ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 83 |
Total Units Section 8 | 83 |
% Rentals under Section 8 | 14.6% |
% Occupied Section 8 | 69.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $250 | $1,850 | $2,100 |
| 2 Bedroom | $690 | $1,850 | $2,540 |
| 3 Bedroom | $300 | $2,900 | $3,200 |
| 4 Bedroom | $440 | $3,200 | $3,640 |
Affordability — Union, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $477,000 |
| Median Household Income | $92,000 |