Elizabeth, NJ—07206
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 $517,000, with a year-over-year change of 4.7%. This indicates that home prices in Elizabeth, NJ are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $517,000 | 4.7% |
| 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 | N/A | N/A |
3 Bed | $519,000 | 4.4% |
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 $2,370, with a year-over-year rent change of -1.2%. Per bedroom, the median rent as of July '25 in Elizabeth, NJ is studios: $1,500, 1-bedrooms: $1,550, 2-bedrooms: $1,900, 3-bedrooms: $2,610, 4-bedrooms: $3,010. The most common rental property sizes in Elizabeth, NJ are 3-bedroom and 2-bedroom, accounting for 45.5% and 37.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,370 |
| Studio Rent | $1,550 | $1,500 |
| 1 Bed Rent | $1,650 | $1,550 |
| 2 Bed Rent | $1,900 | $1,900 |
| 3 Bed Rent | $2,600 | $2,610 |
| 4 Bed Rent | $3,100 | $3,010 |
% 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 38. This is a increase of 63.0% 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 | $707,000 | 54.0% |
Listing Count | 3 | -55.0% |
| Listings as % of Homes | 0.1% | -55.0% |
Days on Market | 38 | 63.0% |
Demographics — Elizabeth, NJ
As of the latest ACS Survey released in 2023, Elizabeth, NJ has a population of 31,100, which has increased by 12.5% over the past 5 years. Elizabeth, NJ is a popular place for families, as children make up 29.3% of the population. The area has a poorly educated workforce, with 7.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,100 | 12.5% |
% Under 18 | 29.3% | -9.8% |
% Seniors | 9.4% | 34.3% |
% WFH | 6.1% | 48.8% |
% w/ College Degree | 7.8% | 16.4% |
As of the latest ACS Survey released in 2023, Elizabeth, NJ is a predominantly hispanic area, with 69.4% of the population identifying as hispanic. The hispanic population has grown by 1.0% in the last 5 years. The second most common race or ethnicity in Elizabeth, NJ is black, making up 18.5% of the population. Foreign-born residents account for 48.9% of the population in Elizabeth, NJ, and this percentage has increased by 14.8% 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 | 8.2% | -3.5% |
% Black | 18.5% | -11.1% |
% Hispanic | 69.4% | 1.0% |
% Asian | 1.0% | 66.7% |
% Foreign Born | 48.9% | 14.8% |
Mortgage and Risk — Elizabeth, NJ
According to HUD data as of 2023, there were 114 mortgage originations in Elizabeth, NJ, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Elizabeth, NJ. Investor activity is low, as 10.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 114 |
% Conventional Loans | 54.0% |
% Government Loans | 46.0% |
% Investor Loans | 10.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Elizabeth, NJ
As of 2024, the percent of homes in Elizabeth, NJ under the Section 8 program is 11.1%. 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 | 966 |
Total Units Section 8 | 739 |
% Rentals under Section 8 | 11.1% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,650 | $1,490 |
| 2 Bedroom | -$100 | $1,900 | $1,800 |
| 3 Bedroom | -$330 | $2,600 | $2,270 |
| 4 Bedroom | -$520 | $3,100 | $2,580 |
Affordability — Elizabeth, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $517,000 |
| Median Household Income | $61,000 |