Newark, NJ—07104
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 $489,000, with a year-over-year change of 0.2%. This indicates that home prices in Newark, NJ are flat. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $489,000 | 0.2% |
| Single Family | $526,000 | 1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $352,000 | -2.5% |
3 Bed | $452,000 | 0.2% |
4 Bed | $527,000 | 0.8% |
| 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 $2,220, with a year-over-year rent change of 4.7%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $1,900, 1-bedrooms: $1,810, 2-bedrooms: $2,120, 3-bedrooms: $2,540, 4-bedrooms: $2,740. The most common rental property sizes in Newark, NJ are 2-bedroom and 1-bedroom, accounting for 34.1% and 30.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,220 |
| Studio Rent | $1,450 | $1,900 |
| 1 Bed Rent | $1,750 | $1,810 |
| 2 Bed Rent | $1,980 | $2,120 |
| 3 Bed Rent | $2,500 | $2,540 |
| 4 Bed Rent | $2,750 | $2,740 |
% 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 22. This is a increase of 17.0% 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 | $461,000 | -28.0% |
Listing Count | 27 | -5.0% |
| Listings as % of Homes | 0.2% | -5.0% |
Days on Market | 22 | 17.0% |
Demographics — Newark, NJ
As of the latest ACS Survey released in 2023, Newark, NJ has a population of 54,300, which has increased by 5.9% over the past 5 years. Newark, NJ is a moderately popular place for families, as children make up 24.0% of the population. The area has a poorly educated workforce, with 20.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,300 | 5.9% |
% Under 18 | 24.0% | -7.3% |
% Seniors | 12.0% | 14.3% |
% WFH | 7.8% | 457.1% |
% w/ College Degree | 20.9% | 18.8% |
As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly hispanic area, with 65.6% of the population identifying as hispanic. The hispanic population has shrunk by 0.5% in the last 5 years. The second most common race or ethnicity in Newark, NJ is black, making up 24.5% of the population. Foreign-born residents account for 29.9% of the population in Newark, NJ, and this percentage has increased by 7.2% 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 | 8.4% | 33.3% |
% Black | 24.5% | -7.5% |
% Hispanic | 65.6% | -0.5% |
% Asian | 0.6% | -68.4% |
% Foreign Born | 29.9% | 7.2% |
Mortgage and Risk — Newark, NJ
According to HUD data as of 2023, there were 229 mortgage originations in Newark, NJ, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is low, as 7.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 229 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Newark, NJ
As of 2024, the percent of homes in Newark, NJ under the Section 8 program is 19.2%. 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 | 3,457 |
Total Units Section 8 | 3,068 |
% Rentals under Section 8 | 19.2% |
% Occupied Section 8 | 91.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$250 | $1,750 | $1,500 |
| 2 Bedroom | -$170 | $1,980 | $1,810 |
| 3 Bedroom | -$220 | $2,500 | $2,280 |
| 4 Bedroom | -$160 | $2,750 | $2,590 |
Affordability — Newark, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.6 |
| Median Home Price | $489,000 |
| Median Household Income | $51,200 |