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Newark, NJ—07104

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$489,000
0.1% YoY Growth
Household Income
$51,200
39.1% YoY Growth
Days on Market
48
44.0% Shorter YoY
Home Price Forecast
0.9%
Median Rent
$2,100
4.7% YoY Growth
1-Bed Rent
$1,750
21.5% YoY Growth
2-Bed Rent
$1,980
8.7% YoY Growth
3-Bed Rent
$2,500
5.4% YoY Growth

Other Zip Codes in Newark, NJ

0711207105071140710307108071070710607102
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Newark, NJ

As of Dec '25, the median home price in Newark, NJ is $489,000, with a year-over-year change of 0.1%. This indicates that home prices in Newark, NJ are flat. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$489,0000.1%
Single Family $524,0000.4%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$352,000-3.6%
    3 Bed
    		$448,0000.4%
    4 Bed
    		$528,0000.2%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    10.7%
    1 Bedroom
    23.4%
    2 Bedrooms
    33.2%
    3 Bedrooms
    25.7%
    4 Bedrooms
    3.9%
    5+ Bedrooms
    3.0%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    13.1%
    1 Bedroom
    30.1%
    2 Bedrooms
    34.1%
    3 Bedrooms
    20.8%
    4 Bedrooms
    1.3%
    5+ Bedrooms
    0.6%

    Property Listings — Newark, NJ

    As of Dec '25, Realtor.com reports that the median days on market for a home in Newark, NJ is 37. This is a decrease of -13.0% from last year, suggesting that homes are sitting on the market shorter 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
    		$444,000-33.0%
    Listing Count
    		27-24.0%
    Listings as % of Homes0.2%-24.0%
    Days on Market
    		48-44.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		54,3005.9%
    % Under 18
    		24.0%-7.3%
    % Seniors
    		12.0%14.3%
    % WFH
    		7.8%457.1%
    % w/ College Degree
    		20.9%18.8%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio8.6
    Median Home Price$489,000
    Median Household Income$51,200

    Newark, NJ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Newark, NJ

    07107

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    07029

    Belleville, NJ

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    Newark, NJ

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    Frequently Asked Questions