Newark, NJ—07102
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Newark, NJ
As of Oct '25, the median home price in Newark, NJ is $409,000, with a year-over-year change of -2.3%. This indicates that home prices in Newark, NJ are decreasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $409,000 | -2.3% |
| Single Family | $474,000 | -6.0% |
| Condos | $330,000 | 2.8% |
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 | N/A | N/A |
% of Housing Stock
Rental Trends — Newark, NJ
As of July '25, Rentcast reports the average rent in Newark, NJ is $2,290, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $2,120, 1-bedrooms: $2,030, 2-bedrooms: $2,280, 3-bedrooms: $2,830. The most common rental property sizes in Newark, NJ are 1-bedroom and 2-bedroom, accounting for 40.8% and 28.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,290 |
| Studio Rent | $2,080 | $2,120 |
| 1 Bed Rent | $2,100 | $2,030 |
| 2 Bed Rent | $2,300 | $2,280 |
| 3 Bed Rent | $2,900 | $2,830 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Newark, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Newark, NJ is 76. This is a increase of 13.0% 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 | $365,000 | -22.0% |
Listing Count | 7 | 60.0% |
| Listings as % of Homes | 0.1% | 60.0% |
Days on Market | 76 | 13.0% |
Demographics — Newark, NJ
As of the latest ACS Survey released in 2023, Newark, NJ has a population of 13,000, which has decreased by -3.2% over the past 5 years. Newark, NJ is a moderately popular place for families, as children make up 15.2% of the population. The area has a moderately educated workforce, with 30.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,000 | -3.2% |
% Under 18 | 15.2% | -15.6% |
% Seniors | 15.5% | 10.7% |
% WFH | 11.2% | 202.7% |
% w/ College Degree | 30.5% | 56.4% |
As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly black area, with 50.6% of the population identifying as black. The black population has grown by 2.4% in the last 5 years. The second most common race or ethnicity in Newark, NJ is hispanic, making up 26.1% of the population. Foreign-born residents account for 23.8% of the population in Newark, NJ, and this percentage has decreased by 9.2% 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 | 13.1% | -12.7% |
% Black | 50.6% | 2.4% |
% Hispanic | 26.1% | 4.8% |
% Asian | 5.8% | -9.4% |
% Foreign Born | 23.8% | -9.2% |
Mortgage and Risk — Newark, NJ
According to HUD data as of 2023, there were 21 mortgage originations in Newark, NJ, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is low, as 10.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 21 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 10.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Newark, NJ
Newark, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2,235 |
Total Units Section 8 | 2,080 |
% Rentals under Section 8 | 34.4% |
% Occupied Section 8 | 94.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$550 | $2,100 | $1,550 |
| 2 Bedroom | -$420 | $2,300 | $1,880 |
| 3 Bedroom | -$530 | $2,900 | $2,370 |
| 4 Bedroom | N/A | N/A | $2,690 |
Affordability — Newark, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 11.2 |
| Median Home Price | $409,000 |
| Median Household Income | $37,100 |