Union, NJ 07088 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Union, NJ—07088

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$469,000

1.4% YoY Growth

Household Income

$92,000

76.0% YoY Growth

Days on Market

179.0% Longer YoY

Home Price Forecast

1.9%

Median Rent

$2,150

0.4% YoY Growth

1-Bed Rent

$1,850

8.6% YoY Growth

2-Bed Rent

$1,850

14.1% YoY Growth

3-Bed Rent

$2,900

1.0% YoY Growth

Other Zip Codes in Union, NJ

07083

Home Price Trends — Union, NJ

As of Dec '25, the median home price in Union, NJ is $469,000, with a year-over-year change of 1.4%. This indicates that home prices in Union, NJ are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$469,000	1.4%
Single Family	$473,000	0.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

5.6%

1 Bedroom

14.6%

2 Bedrooms

41.2%

3 Bedrooms

16.3%

4 Bedrooms

5.9%

5+ Bedrooms

16.5%

Property Listings — Union, NJ

As of Dec '25, Realtor.com reports that the median days on market for a home in Union, NJ is 24. This is a increase of 162.0% 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	$420,000	-21.0%
Listing Count	8	64.0%
Listings as % of Homes	0.5%	64.0%
Days on Market	42	179.0%

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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%

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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%

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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%

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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

Union, NJ—07088

Key Metrics at a Glance

Other Zip Codes in Union, NJ

Home Price Trends — Union, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Union, NJ

% of Rental Stock

Property Listings — Union, NJ

Demographics — Union, NJ

Race and Ethnicity

Mortgage and Risk — Union, NJ

Mortgages

Rentals and Section 8 — Union, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Union, NJ

Home Price to Income Ratio

Union, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Millburn, NJ

Maplewood, NJ

Union, NJ

South Orange, NJ

Kenilworth, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.7
Median Home Price	$469,000
Median Household Income	$92,000

Union, NJ—07088

Key Metrics at a Glance

Other Zip Codes in Union, NJ

Home Price Trends — Union, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Union, NJ

% of Rental Stock

Property Listings — Union, NJ

Demographics — Union, NJ

Race and Ethnicity

Mortgage and Risk — Union, NJ

Mortgages

Rentals and Section 8 — Union, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Union, NJ

Home Price to Income Ratio

Union, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Millburn, NJ

Maplewood, NJ

Union, NJ

South Orange, NJ

Kenilworth, NJ

Frequently Asked Questions

What is the average home price in Union, NJ 07088?

How have home prices in Union, NJ 07088 changed over the past year?

What is the home price projection for Union, NJ 07088?

What are the demographics of Union, NJ 07088?

How long does it take homes to sell in Union, NJ 07088?

What is the average rent price in Union, NJ 07088?