Newark, NJ—07114
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 $467,000, with a year-over-year change of -3.7%. This indicates that home prices in Newark, NJ are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $467,000 | -3.7% |
| Single Family | $496,000 | -3.1% |
| 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 | N/A | N/A |
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 $2,200, with a year-over-year rent change of -7.6%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $1,940, 1-bedrooms: $1,820, 2-bedrooms: $2,130, 3-bedrooms: $2,470, 4-bedrooms: $2,550. The most common rental property sizes in Newark, NJ are 1-bedroom and 3-bedroom, accounting for 45.1% and 22.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,200 |
| Studio Rent | $1,940 | $1,940 |
| 1 Bed Rent | $1,800 | $1,820 |
| 2 Bed Rent | $2,050 | $2,130 |
| 3 Bed Rent | $2,300 | $2,470 |
| 4 Bed Rent | $2,200 | $2,550 |
% 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 64. This is a increase of 114.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $364,000 | 2.0% |
Listing Count | 11 | 136.0% |
| Listings as % of Homes | 0.1% | 136.0% |
Days on Market | 64 | 114.0% |
Demographics — Newark, NJ
As of the latest ACS Survey released in 2023, Newark, NJ has a population of 12,700, which has remained stable by -0.7% over the past 5 years. Newark, NJ is a moderately popular place for families, as children make up 15.3% of the population. The area has a poorly educated workforce, with 9.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,700 | -0.7% |
% Under 18 | 15.3% | -19.5% |
% Seniors | 11.6% | 61.1% |
% WFH | 8.5% | 507.1% |
% w/ College Degree | 9.4% | 20.5% |
As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly black area, with 47.1% of the population identifying as black. The black population has shrunk by 20.3% in the last 5 years. The second most common race or ethnicity in Newark, NJ is hispanic, making up 33.1% of the population. Foreign-born residents account for 28.7% of the population in Newark, NJ, and this percentage has increased by 49.5% 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 | 12.3% | 0.8% |
% Black | 47.1% | -20.3% |
% Hispanic | 33.1% | 19.1% |
% Asian | 1.2% | 50.0% |
% Foreign Born | 28.7% | 49.5% |
Mortgage and Risk — Newark, NJ
According to HUD data as of 2023, there were 24 mortgage originations in Newark, NJ, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is low, as 12.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 24 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 12.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Newark, NJ
As of 2024, the percent of homes in Newark, NJ under the Section 8 program is 12.4%. 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. 3-bedroom and 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 units do not.
Section 8 Market Size
Total Units under HUD | 1,847 |
Total Units Section 8 | 447 |
% Rentals under Section 8 | 12.4% |
% Occupied Section 8 | 89.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$260 | $1,800 | $1,540 |
| 2 Bedroom | -$190 | $2,050 | $1,860 |
| 3 Bedroom | $40 | $2,300 | $2,340 |
| 4 Bedroom | $460 | $2,200 | $2,660 |
Affordability — Newark, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 13.4 |
| Median Home Price | $467,000 |
| Median Household Income | $34,200 |