South Orange, NJ—07079
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — South Orange, NJ
As of Oct '25, the median home price in South Orange, NJ is $1,028,000, with a year-over-year change of 8.1%. This indicates that home prices in South Orange, 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 | $1,028,000 | 8.1% |
| Single Family | $1,073,000 | 8.4% |
| Condos | $449,000 | 7.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $518,000 | 5.1% |
3 Bed | $854,000 | 6.4% |
4 Bed | $1,107,000 | 7.3% |
| 5 Bed | $1,418,000 | 10.2% |
% of Housing Stock
Rental Trends — South Orange, NJ
As of July '25, Rentcast reports the average rent in South Orange, NJ is $3,240, with a year-over-year rent change of -7.7%. Per bedroom, the median rent as of July '25 in South Orange, NJ is studios: $1,770, 1-bedrooms: $2,560, 2-bedrooms: $3,160, 3-bedrooms: $3,500, 4-bedrooms: $4,200. The most common rental property sizes in South Orange, NJ are 1-bedroom and 2-bedroom, accounting for 42.4% and 31.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,240 |
| Studio Rent | $1,750 | $1,770 |
| 1 Bed Rent | $2,510 | $2,560 |
| 2 Bed Rent | $2,600 | $3,160 |
| 3 Bed Rent | $3,300 | $3,500 |
| 4 Bed Rent | $3,700 | $4,200 |
% of Rental Stock
Property Listings — South Orange, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in South Orange, NJ is 37. This is a increase of 39.0% 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 5.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $899,000 | 10.0% |
Listing Count | 43 | 11.0% |
| Listings as % of Homes | 0.4% | 11.0% |
Days on Market | 37 | 39.0% |
Demographics — South Orange, NJ
As of the latest ACS Survey released in 2023, South Orange, NJ has a population of 18,400, which has increased by 11.5% over the past 5 years. South Orange, NJ is a moderately popular place for families, as children make up 21.8% of the population. The area has a highly educated workforce, with 76.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,400 | 11.5% |
% Under 18 | 21.8% | 12.4% |
% Seniors | 12.9% | 8.4% |
% WFH | 28.2% | 182.0% |
% w/ College Degree | 76.1% | 7.5% |
As of the latest ACS Survey released in 2023, South Orange, NJ is a predominantly white area, with 58.1% of the population identifying as white. The white population has remained stable in the last 5 years. The second most common race or ethnicity in South Orange, NJ is black, making up 21.5% of the population. Foreign-born residents account for 14.7% of the population in South Orange, NJ, and this percentage has increased by 2.8% 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 | 58.1% | 0.0% |
% Black | 21.5% | -17.9% |
% Hispanic | 8.5% | 25.0% |
% Asian | 6.0% | 17.6% |
% Foreign Born | 14.7% | 2.8% |
Mortgage and Risk — South Orange, NJ
According to HUD data as of 2023, there were 238 mortgage originations in South Orange, NJ, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in South Orange, NJ. Investor activity is low, as 0.0% 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 | 238 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — South Orange, NJ
As of 2024, the percent of homes in South Orange, NJ under the Section 8 program is 3.8%. 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 South Orange, NJ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 82 |
Total Units Section 8 | 77 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 96.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $2,510 | $2,560 |
| 2 Bedroom | $500 | $2,600 | $3,100 |
| 3 Bedroom | $600 | $3,300 | $3,900 |
| 4 Bedroom | $740 | $3,700 | $4,440 |
Affordability — South Orange, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $1,028,000 |
| Median Household Income | $185,000 |