Newark, NJ—07105
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 $574,000, with a year-over-year change of 4.3%. This indicates that home prices in Newark, NJ are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $574,000 | 4.3% |
| Single Family | $604,000 | 5.8% |
| Condos | $402,000 | 2.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $394,000 | 4.8% |
3 Bed | $492,000 | 4.9% |
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 $2,360, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $1,770, 1-bedrooms: $2,240, 2-bedrooms: $2,420, 3-bedrooms: $2,640, 4-bedrooms: $2,500. The most common rental property sizes in Newark, NJ are 2-bedroom and 3-bedroom, accounting for 44.1% and 26.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,360 |
| Studio Rent | $1,350 | $1,770 |
| 1 Bed Rent | $2,100 | $2,240 |
| 2 Bed Rent | $2,300 | $2,420 |
| 3 Bed Rent | $2,500 | $2,640 |
| 4 Bed Rent | $2,500 | $2,500 |
% 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 68. This is a increase of 62.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $399,000 | -13.0% |
Listing Count | 33 | 118.0% |
| Listings as % of Homes | 0.1% | 118.0% |
Days on Market | 68 | 62.0% |
Demographics — Newark, NJ
As of the latest ACS Survey released in 2023, Newark, NJ has a population of 56,700, which has increased by 8.9% over the past 5 years. Newark, NJ is a moderately popular place for families, as children make up 23.4% of the population. The area has a poorly educated workforce, with 15.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 56,700 | 8.9% |
% Under 18 | 23.4% | 8.8% |
% Seniors | 7.2% | -19.1% |
% WFH | 3.5% | 52.2% |
% w/ College Degree | 15.0% | 10.3% |
As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly hispanic area, with 49.2% of the population identifying as hispanic. The hispanic population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Newark, NJ is white, making up 27.0% of the population. Foreign-born residents account for 64.1% of the population in Newark, NJ, and this percentage has increased by 12.3% 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 | 27.0% | -21.7% |
% Black | 7.2% | -12.2% |
% Hispanic | 49.2% | -2.8% |
% Asian | 0.7% | -12.5% |
% Foreign Born | 64.1% | 12.3% |
Mortgage and Risk — Newark, NJ
According to HUD data as of 2023, there were 100 mortgage originations in Newark, NJ, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is high, as 26.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 100 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 26.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Newark, NJ
As of 2024, the percent of homes in Newark, NJ under the Section 8 program is 1.9%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Newark, NJ, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 702 |
Total Units Section 8 | 324 |
% Rentals under Section 8 | 1.9% |
% Occupied Section 8 | 91.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$600 | $2,100 | $1,500 |
| 2 Bedroom | -$490 | $2,300 | $1,810 |
| 3 Bedroom | -$220 | $2,500 | $2,280 |
| 4 Bedroom | $90 | $2,500 | $2,590 |
Affordability — Newark, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9 |
| Median Home Price | $574,000 |
| Median Household Income | $55,800 |