Newark, NJ—07103
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Newark, NJ
As of Oct '25, the median home price in Newark, NJ is $393,000, with a year-over-year change of 2.3%. This indicates that home prices in Newark, NJ are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $393,000 | 2.3% |
| Single Family | $426,000 | 0.9% |
| Condos | $309,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $356,000 | 1.7% |
3 Bed | $415,000 | 2.2% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Newark, NJ
As of July '25, Rentcast reports the average rent in Newark, NJ is $2,250, with a year-over-year rent change of -2.2%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $1,550, 1-bedrooms: $1,900, 2-bedrooms: $2,290, 3-bedrooms: $2,460, 4-bedrooms: $2,690. The most common rental property sizes in Newark, NJ are 3-bedroom and 2-bedroom, accounting for 34.3% and 31.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,250 |
| Studio Rent | $1,600 | $1,550 |
| 1 Bed Rent | $1,900 | $1,900 |
| 2 Bed Rent | $2,200 | $2,290 |
| 3 Bed Rent | $2,400 | $2,460 |
| 4 Bed Rent | $2,600 | $2,690 |
% of Rental Stock
Property Listings — Newark, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Newark, NJ is 42. This is a increase of 45.0% 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 | $362,000 | 1.0% |
Listing Count | 28 | 22.0% |
| Listings as % of Homes | 0.2% | 22.0% |
Days on Market | 42 | 45.0% |
Demographics — Newark, NJ
As of the latest ACS Survey released in 2023, Newark, NJ has a population of 36,700, which has increased by 13.1% over the past 5 years. Newark, NJ is a popular place for families, as children make up 27.3% of the population. The area has a poorly educated workforce, with 20.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,700 | 13.1% |
% Under 18 | 27.3% | 2.6% |
% Seniors | 9.7% | -7.6% |
% WFH | 7.4% | 722.2% |
% w/ College Degree | 20.6% | 44.1% |
As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly black area, with 72.0% of the population identifying as black. The black population has shrunk by 9.0% in the last 5 years. The second most common race or ethnicity in Newark, NJ is hispanic, making up 17.8% of the population. Foreign-born residents account for 22.7% of the population in Newark, NJ, and this percentage has increased by 28.2% 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 | 4.2% | 20.0% |
% Black | 72.0% | -9.0% |
% Hispanic | 17.8% | 17.1% |
% Asian | 4.0% | 60.0% |
% Foreign Born | 22.7% | 28.2% |
Mortgage and Risk — Newark, NJ
According to HUD data as of 2023, there were 217 mortgage originations in Newark, NJ, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 53.0% above 90% LTV (very high). This implies large mortgage risk in Newark, NJ. Investor activity is low, as 6.0% 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 | 217 |
% Conventional Loans | 58.0% |
% Government Loans | 42.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Newark, NJ
As of 2024, the percent of homes in Newark, NJ under the Section 8 program is 30.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Newark, 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 | 4,167 |
Total Units Section 8 | 3,125 |
% Rentals under Section 8 | 30.3% |
% Occupied Section 8 | 90.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$420 | $1,900 | $1,480 |
| 2 Bedroom | -$410 | $2,200 | $1,790 |
| 3 Bedroom | -$150 | $2,400 | $2,250 |
| 4 Bedroom | -$40 | $2,600 | $2,560 |
Affordability — Newark, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.5 |
| Median Home Price | $393,000 |
| Median Household Income | $42,400 |