Newark, NJ07103

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$393,000
2.3% YoY Growth
Median Household Income
$42,400
44.7% 5-Year Growth
Days on Market
42
45.0% Longer than last year
Home Price Forecast
1.5%
Median Rent
$2,250
2.2% YoY Growth
1-Bed Rent
$1,900
0.0% YoY Growth
2-Bed Rent
$2,200
4.1% YoY Growth
3-Bed Rent
$2,400
0.8% YoY Growth

Other Zip Codes in Newark, NJ

Property Listings — Newark, NJ

As of Oct '25, Realtor.com reports that the median days on market for a home in Newark, NJ is 42. This is a increase of 45.0% 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.

MetricZip Code AverageYear over Year % Change
Median Listing Price
$362,0001.0%
Listing Count
2822.0%
Listings as % of Homes0.2%22.0%
Days on Market
4245.0%
Loading chart...

Demographics — Newark, NJ

As of the latest ACS Survey released in 2023, Newark, NJ has a population of 36,700, which has increased by 13.1% over the past 5 years. Newark, NJ is a popular place for families, as children make up 27.3% of the population. The area has a poorly educated workforce, with 20.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.

MetricLatest CensusYoY % Change
Population
36,70013.1%
% Under 18
27.3%2.6%
% Seniors
9.7%-7.6%
% WFH
7.4%722.2%
% w/ College Degree
20.6%44.1%
Loading chart...

As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly black area, with 72.0% of the population identifying as black. The black population has shrunk by 9.0% in the last 5 years. The second most common race or ethnicity in Newark, NJ is hispanic, making up 17.8% of the population. Foreign-born residents account for 22.7% of the population in Newark, NJ, and this percentage has increased by 28.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

MetricLatest Census5-Year % Change
% White
4.2%20.0%
% Black
72.0%-9.0%
% Hispanic
17.8%17.1%
% Asian
4.0%60.0%
% Foreign Born
22.7%28.2%
Loading chart...

Mortgage and Risk — Newark, NJ

According to HUD data as of 2023, there were 217 mortgage originations in Newark, NJ, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is low, as 6.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

MetricZip Code Average
Total Loan Originations
217
% Conventional Loans
58.0%
% Government Loans
42.0%
% Investor Loans
6.0%
% Second Loans
0.0%
% Cash Out Refinance
12.0%

Loan Activity

Loading chart...
Loading chart...

Rentals and Section 8 — Newark, NJ

As of 2024, the percent of homes in Newark, NJ under the Section 8 program is 30.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Newark, NJ, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

Section 8 Market Size

Total Units under HUD
4,167
Total Units Section 8
3,125
% Rentals under Section 8
30.3%
% Occupied Section 8
90.5%

Section 8 Opportunity

Home SizeHUD PremiumMarket RentMax HUD Rent
1 Bedroom-$420$1,900$1,480
2 Bedroom-$410$2,200$1,790
3 Bedroom-$150$2,400$2,250
4 Bedroom-$40$2,600$2,560

Affordability — Newark, NJ

Home Price to Income Ratio

MetricZip Code Average
Home Price to Income Ratio8.5
Median Home Price$393,000
Median Household Income$42,400

Newark, NJ — ZIP Code Boundary Map

Loading map...

Frequently Asked Questions