Elmwood Park, NJ—07407
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elmwood Park, NJ
As of Oct '25, the median home price in Elmwood Park, NJ is $598,000, with a year-over-year change of 2.6%. This indicates that home prices in Elmwood Park, NJ are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $598,000 | 2.6% |
| Single Family | $607,000 | 1.8% |
| Condos | $442,000 | 4.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $499,000 | 1.4% |
3 Bed | $609,000 | 2.4% |
4 Bed | $636,000 | 2.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elmwood Park, NJ
As of July '25, Rentcast reports the average rent in Elmwood Park, NJ is $2,950, with a year-over-year rent change of 10.9%. Per bedroom, the median rent as of July '25 in Elmwood Park, NJ is 1-bedrooms: $1,960, 2-bedrooms: $2,450, 3-bedrooms: $3,390, 4-bedrooms: $4,310. The most common rental property sizes in Elmwood Park, NJ are 2-bedroom and 3-bedroom, accounting for 39.9% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,700 | $2,950 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,800 | $1,960 |
| 2 Bed Rent | $2,400 | $2,450 |
| 3 Bed Rent | $3,100 | $3,390 |
| 4 Bed Rent | $4,300 | $4,310 |
% of Rental Stock
Property Listings — Elmwood Park, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Elmwood Park, NJ is 41. This is a increase of 18.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $584,000 | -7.0% |
Listing Count | 23 | 12.0% |
| Listings as % of Homes | 0.3% | 12.0% |
Days on Market | 41 | 18.0% |
Demographics — Elmwood Park, NJ
As of the latest ACS Survey released in 2023, Elmwood Park, NJ has a population of 21,300, which has increased by 5.8% over the past 5 years. Elmwood Park, NJ is a moderately popular place for families, as children make up 21.4% of the population. The area has a moderately educated workforce, with 35.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,300 | 5.8% |
% Under 18 | 21.4% | -2.3% |
% Seniors | 17.8% | 17.9% |
% WFH | 7.8% | 333.3% |
% w/ College Degree | 35.7% | 24.8% |
As of the latest ACS Survey released in 2023, Elmwood Park, NJ is a predominantly white area, with 48.8% of the population identifying as white. The white population has shrunk by 10.3% in the last 5 years. The second most common race or ethnicity in Elmwood Park, NJ is hispanic, making up 29.7% of the population. Foreign-born residents account for 35.6% of the population in Elmwood Park, 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 | 48.8% | -10.3% |
% Black | 9.9% | 32.0% |
% Hispanic | 29.7% | 12.1% |
% Asian | 9.7% | 11.5% |
% Foreign Born | 35.6% | 14.8% |
Mortgage and Risk — Elmwood Park, NJ
According to HUD data as of 2023, there were 205 mortgage originations in Elmwood Park, NJ, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Elmwood Park, NJ. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 205 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Elmwood Park, NJ
As of 2024, the percent of homes in Elmwood Park, NJ under the Section 8 program is 14.9%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Elmwood Park, NJ, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 478 |
Total Units Section 8 | 478 |
% Rentals under Section 8 | 14.9% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $290 | $1,800 | $2,090 |
| 2 Bedroom | $0 | $2,400 | $2,400 |
| 3 Bedroom | -$150 | $3,100 | $2,950 |
| 4 Bedroom | -$560 | $4,300 | $3,740 |
Affordability — Elmwood Park, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.2 |
| Median Home Price | $598,000 |
| Median Household Income | $101,000 |