Newark, NJ—07106
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 $454,000, with a year-over-year change of 0.9%. 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 Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $454,000 | 0.9% |
| Single Family | $454,000 | 1.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $445,000 | 2.3% |
4 Bed | $476,000 | 0.6% |
| 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 $2,210, 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.
| Type | Median Rent | Average 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 |
% 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 29. This is a decrease of -10.0% 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 6.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $420,000 | 3.0% |
Listing Count | 36 | -9.0% |
| Listings as % of Homes | 0.3% | -9.0% |
Days on Market | 29 | -10.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,000 | 7.2% |
% Under 18 | 24.4% | -4.7% |
% Seniors | 12.6% | 8.6% |
% WFH | 7.2% | 453.8% |
% w/ College Degree | 17.5% | -1.1% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.1 |
| Median Home Price | $454,000 |
| Median Household Income | $48,100 |