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Newark, NJ—07106

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$457,000
1.2% YoY Growth
Household Income
$48,100
21.6% YoY Growth
Days on Market
85
1.0% Shorter YoY
Home Price Forecast
1.2%
Median Rent
$2,200
3.8% YoY Growth
1-Bed Rent
$1,600
13.9% YoY Growth
2-Bed Rent
$1,950
1.5% YoY Growth
3-Bed Rent
$2,350
2.9% YoY Growth

Other Zip Codes in Newark, NJ

0711207105071040711407103071080710707102
  • 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 $457,000, with a year-over-year change of 1.2%. This indicates that home prices in Newark, NJ are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$457,0001.2%
Single Family $458,0001.6%
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
    		N/AN/A
    3 Bed
    		$445,0002.8%
    4 Bed
    		$476,0001.1%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    4.1%
    1 Bedroom
    19.7%
    2 Bedrooms
    34.1%
    3 Bedrooms
    32.8%
    4 Bedrooms
    5.7%
    5+ Bedrooms
    3.6%

    Rental Trends — Newark, NJ

    As of July '25, Rentcast reports the average rent in Newark, NJ is $2,210, with a year-over-year rent change of 3.8%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $1,380, 1-bedrooms: $1,640, 2-bedrooms: $2,000, 3-bedrooms: $2,490, 4-bedrooms: $2,650. The most common rental property sizes in Newark, NJ are 2-bedroom and 1-bedroom, accounting for 38.9% and 28.9% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,200$2,210
    Studio Rent $1,100$1,380
    1 Bed Rent $1,600$1,640
    2 Bed Rent $1,950$2,000
    3 Bed Rent $2,350$2,490
    4 Bed Rent $2,450$2,650
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    % of Rental Stock

    Studio
    6.3%
    1 Bedroom
    28.9%
    2 Bedrooms
    38.9%
    3 Bedrooms
    23.3%
    4 Bedrooms
    1.7%
    5+ Bedrooms
    0.9%

    Property Listings — Newark, NJ

    As of Dec '25, Realtor.com reports that the median days on market for a home in Newark, NJ is 50. This is a decrease of -15.0% 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
    		$463,0007.0%
    Listing Count
    		23-9.0%
    Listings as % of Homes0.3%-9.0%
    Days on Market
    		85-1.0%
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    Demographics — Newark, NJ

    As of the latest ACS Survey released in 2023, Newark, NJ has a population of 36,000, which has increased by 7.2% over the past 5 years. Newark, NJ is a moderately popular place for families, as children make up 24.4% of the population. The area has a poorly educated workforce, with 17.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.2% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		36,0007.2%
    % Under 18
    		24.4%-4.7%
    % Seniors
    		12.6%8.6%
    % WFH
    		7.2%453.8%
    % w/ College Degree
    		17.5%-1.1%
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    As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly black area, with 75.8% of the population identifying as black. The black population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Newark, NJ is hispanic, making up 15.1% of the population. Foreign-born residents account for 33.8% of the population in Newark, NJ, and this percentage has increased by 4.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		1.4%-54.8%
    % Black
    		75.8%-3.6%
    % Hispanic
    		15.1%31.3%
    % Asian
    		4.4%-22.8%
    % Foreign Born
    		33.8%4.3%
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    Mortgage and Risk — Newark, NJ

    According to HUD data as of 2023, there were 284 mortgage originations in Newark, NJ, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is low, as 5.0% of loans were by investors. 17.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		284
    % Conventional Loans
    		54.0%
    % Government Loans
    		46.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		17.0%
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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 14.3%. 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
    		1,665
    Total Units Section 8
    		1,350
    % Rentals under Section 8
    		14.3%
    % Occupied Section 8
    		90.9%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$160$1,600$1,440
    2 Bedroom-$220$1,950$1,730
    3 Bedroom-$160$2,350$2,190
    4 Bedroom$70$2,450$2,520

    Affordability — Newark, NJ

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio8.1
    Median Home Price$457,000
    Median Household Income$48,100

    Newark, NJ — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Irvington, NJ

    07111

    East Orange, NJ

    07018

    Orange, NJ

    07050

    South Orange, NJ

    07079

    Newark, NJ

    07103

    Frequently Asked Questions