Elmwood Park, NJ 07407 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Elmwood Park, NJ—07407

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$625,000

3.7% YoY Growth

Household Income

$101,000

29.5% YoY Growth

Days on Market

36.0% Longer YoY

Home Price Forecast

1.1%

Median Rent

$2,700

10.9% YoY Growth

1-Bed Rent

$1,800

0.5% YoY Growth

2-Bed Rent

$2,400

2.4% YoY Growth

3-Bed Rent

$3,100

8.7% YoY Growth

Home Price Trends — Elmwood Park, NJ

As of May '26, the median home price in Elmwood Park, NJ is $625,000, with a year-over-year change of 3.7%. 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	$625,000	3.7%
Single Family	$635,000	3.6%
Condos	$457,000	7.3%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

1.5%

1 Bedroom

20.5%

2 Bedrooms

39.9%

3 Bedrooms

30.4%

4 Bedrooms

6.5%

5+ Bedrooms

1.3%

Property Listings — Elmwood Park, NJ

As of May '26, Realtor.com reports that the median days on market for a home in Elmwood Park, NJ is 20. This is a increase of 36.0% 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	$512,000	9.0%
Listing Count	21	86.0%
Listings as % of Homes	0.3%	86.0%
Days on Market	20	36.0%

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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%

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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%

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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%

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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

Elmwood Park, NJ—07407

Key Metrics at a Glance

Home Price Trends — Elmwood Park, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Elmwood Park, NJ

% of Rental Stock

Property Listings — Elmwood Park, NJ

Demographics — Elmwood Park, NJ

Race and Ethnicity

Mortgage and Risk — Elmwood Park, NJ

Mortgages

Rentals and Section 8 — Elmwood Park, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Elmwood Park, NJ

Home Price to Income Ratio

Elmwood Park, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Paterson, NJ

Saddle Brook, NJ

Garfield, NJ

Paterson, NJ

Fair Lawn, NJ

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	5.2
Median Home Price	$625,000
Median Household Income	$101,000

Elmwood Park, NJ—07407

Key Metrics at a Glance

Home Price Trends — Elmwood Park, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Elmwood Park, NJ

% of Rental Stock

Property Listings — Elmwood Park, NJ

Demographics — Elmwood Park, NJ

Race and Ethnicity

Mortgage and Risk — Elmwood Park, NJ

Mortgages

Rentals and Section 8 — Elmwood Park, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Elmwood Park, NJ

Home Price to Income Ratio

Elmwood Park, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Paterson, NJ

Saddle Brook, NJ

Garfield, NJ

Paterson, NJ

Fair Lawn, NJ

Frequently Asked Questions

What is the average home price in Elmwood Park, NJ 07407?

How have home prices in Elmwood Park, NJ 07407 changed over the past year?

What is the home price projection for Elmwood Park, NJ 07407?

What are the demographics of Elmwood Park, NJ 07407?

How long does it take homes to sell in Elmwood Park, NJ 07407?

What is the average rent price in Elmwood Park, NJ 07407?