Newark, NJ—07112
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 $477,000, with a year-over-year change of -0.3%. This indicates that home prices in Newark, NJ are flat. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $477,000 | -0.3% |
| Single Family | $482,000 | 0.8% |
| 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 | $461,000 | 1.5% |
4 Bed | $504,000 | 2.6% |
| 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 $2,280, with a year-over-year rent change of -0.4%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $1,370, 1-bedrooms: $1,490, 2-bedrooms: $1,910, 3-bedrooms: $2,480, 4-bedrooms: $3,040. The most common rental property sizes in Newark, NJ are 2-bedroom and 1-bedroom, accounting for 38.9% and 23.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,280 |
| Studio Rent | $1,300 | $1,370 |
| 1 Bed Rent | $1,500 | $1,490 |
| 2 Bed Rent | $1,900 | $1,910 |
| 3 Bed Rent | $2,450 | $2,480 |
| 4 Bed Rent | $2,600 | $3,040 |
% 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 26. This is a decrease of -12.0% 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.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $495,000 | 9.0% |
Listing Count | 27 | -9.0% |
| Listings as % of Homes | 0.2% | -9.0% |
Days on Market | 26 | -12.0% |
Demographics — Newark, NJ
As of the latest ACS Survey released in 2023, Newark, NJ has a population of 27,600, which has increased by 8.1% over the past 5 years. Newark, NJ is a moderately popular place for families, as children make up 24.2% 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 6.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,600 | 8.1% |
% Under 18 | 24.2% | -1.2% |
% Seniors | 11.1% | 2.8% |
% WFH | 6.5% | 441.7% |
% w/ College Degree | 17.5% | 13.6% |
As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly black area, with 85.4% of the population identifying as black. The black population has shrunk by 7.5% in the last 5 years. The second most common race or ethnicity in Newark, NJ is hispanic, making up 8.9% of the population. Foreign-born residents account for 23.7% of the population in Newark, NJ, and this percentage has increased by 65.7% 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 | 1.3% | -13.3% |
% Black | 85.4% | -7.5% |
% Hispanic | 8.9% | 81.6% |
% Asian | 1.0% | 42.9% |
% Foreign Born | 23.7% | 65.7% |
Mortgage and Risk — Newark, NJ
According to HUD data as of 2023, there were 189 mortgage originations in Newark, NJ, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 75.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is low, as 6.0% of loans were by investors. 20.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 189 |
% Conventional Loans | 58.0% |
% Government Loans | 42.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 20.0% |
Loan Activity
Rentals and Section 8 — Newark, NJ
As of 2024, the percent of homes in Newark, NJ under the Section 8 program is 20.3%. 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 | 1,742 |
Total Units Section 8 | 1,742 |
% Rentals under Section 8 | 20.3% |
% Occupied Section 8 | 90.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $1,500 | $1,470 |
| 2 Bedroom | -$120 | $1,900 | $1,780 |
| 3 Bedroom | -$210 | $2,450 | $2,240 |
| 4 Bedroom | -$50 | $2,600 | $2,550 |
Affordability — Newark, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.9 |
| Median Home Price | $477,000 |
| Median Household Income | $55,200 |