Elizabeth, NJ—07202
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elizabeth, NJ
As of Oct '25, the median home price in Elizabeth, NJ is $503,000, with a year-over-year change of 5.5%. This indicates that home prices in Elizabeth, 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 | $503,000 | 5.5% |
| Single Family | $519,000 | 5.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $372,000 | -0.8% |
3 Bed | $509,000 | 3.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elizabeth, NJ
As of July '25, Rentcast reports the average rent in Elizabeth, NJ is $2,380, with a year-over-year rent change of -3.3%. Per bedroom, the median rent as of July '25 in Elizabeth, NJ is studios: $1,370, 1-bedrooms: $1,840, 2-bedrooms: $2,430, 3-bedrooms: $2,790, 4-bedrooms: $3,220. The most common rental property sizes in Elizabeth, NJ are 2-bedroom and 1-bedroom, accounting for 35.9% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,380 |
| Studio Rent | $1,350 | $1,370 |
| 1 Bed Rent | $1,850 | $1,840 |
| 2 Bed Rent | $2,300 | $2,430 |
| 3 Bed Rent | $2,800 | $2,790 |
| 4 Bed Rent | $3,400 | $3,220 |
% of Rental Stock
Property Listings — Elizabeth, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Elizabeth, NJ is 39. This is a decrease of -18.0% 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 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $472,000 | 1.0% |
Listing Count | 25 | 3.0% |
| Listings as % of Homes | 0.1% | 3.0% |
Days on Market | 39 | -18.0% |
Demographics — Elizabeth, NJ
As of the latest ACS Survey released in 2023, Elizabeth, NJ has a population of 44,600, which has increased by 8.3% over the past 5 years. Elizabeth, NJ is a moderately popular place for families, as children make up 25.0% of the population. The area has a poorly educated workforce, with 12.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 44,600 | 8.3% |
% Under 18 | 25.0% | 4.6% |
% Seniors | 12.6% | 15.6% |
% WFH | 5.8% | 205.3% |
% w/ College Degree | 12.6% | 5.9% |
As of the latest ACS Survey released in 2023, Elizabeth, NJ is a predominantly hispanic area, with 70.3% of the population identifying as hispanic. The hispanic population has grown by 3.2% in the last 5 years. The second most common race or ethnicity in Elizabeth, NJ is black, making up 13.7% of the population. Foreign-born residents account for 50.3% of the population in Elizabeth, NJ, and this percentage has increased by 2.4% 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 | 12.5% | -8.8% |
% Black | 13.7% | 3.0% |
% Hispanic | 70.3% | 3.2% |
% Asian | 2.1% | 10.5% |
% Foreign Born | 50.3% | 2.4% |
Mortgage and Risk — Elizabeth, NJ
According to HUD data as of 2023, there were 180 mortgage originations in Elizabeth, NJ, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 100.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Elizabeth, NJ. Investor activity is low, as 7.0% 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 | 180 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Elizabeth, NJ
As of 2024, the percent of homes in Elizabeth, NJ under the Section 8 program is 3.9%. 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. In Elizabeth, 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 | 1,118 |
Total Units Section 8 | 445 |
% Rentals under Section 8 | 3.9% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$300 | $1,850 | $1,550 |
| 2 Bedroom | -$420 | $2,300 | $1,880 |
| 3 Bedroom | -$430 | $2,800 | $2,370 |
| 4 Bedroom | -$710 | $3,400 | $2,690 |
Affordability — Elizabeth, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $503,000 |
| Median Household Income | $68,100 |