Newark, NJ—07107
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 $504,000, with a year-over-year change of 0.6%. This indicates that home prices in Newark, NJ are flat. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $504,000 | 0.6% |
| Single Family | $509,000 | 0.6% |
| 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 | $459,000 | 0.7% |
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 $2,280, with a year-over-year rent change of 3.6%. Per bedroom, the median rent as of July '25 in Newark, NJ is studios: $1,830, 1-bedrooms: $1,680, 2-bedrooms: $2,160, 3-bedrooms: $2,470, 4-bedrooms: $2,810. The most common rental property sizes in Newark, NJ are 3-bedroom and 2-bedroom, accounting for 28.3% and 27.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,280 |
| Studio Rent | $1,450 | $1,830 |
| 1 Bed Rent | $1,580 | $1,680 |
| 2 Bed Rent | $2,200 | $2,160 |
| 3 Bed Rent | $2,400 | $2,470 |
| 4 Bed Rent | $2,600 | $2,810 |
% 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 53. This is a increase of 37.0% 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 | $385,000 | -11.0% |
Listing Count | 15 | -16.0% |
| Listings as % of Homes | 0.1% | -16.0% |
Days on Market | 53 | 37.0% |
Demographics — Newark, NJ
As of the latest ACS Survey released in 2023, Newark, NJ has a population of 42,100, which has increased by 12.3% over the past 5 years. Newark, NJ is a popular place for families, as children make up 26.4% of the population. The area has a poorly educated workforce, with 12.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,100 | 12.3% |
% Under 18 | 26.4% | -5.0% |
% Seniors | 13.1% | 52.3% |
% WFH | 4.2% | 281.8% |
% w/ College Degree | 12.5% | 0.0% |
As of the latest ACS Survey released in 2023, Newark, NJ is a predominantly hispanic area, with 55.6% of the population identifying as hispanic. The hispanic population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Newark, NJ is black, making up 33.9% of the population. Foreign-born residents account for 36.3% of the population in Newark, NJ, and this percentage has increased by 13.1% 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 | 6.7% | 11.7% |
% Black | 33.9% | -2.6% |
% Hispanic | 55.6% | -5.3% |
% Asian | 1.3% | -13.3% |
% Foreign Born | 36.3% | 13.1% |
Mortgage and Risk — Newark, NJ
According to HUD data as of 2023, there were 172 mortgage originations in Newark, NJ, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 39.0% 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. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 172 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Newark, NJ
As of 2024, the percent of homes in Newark, NJ under the Section 8 program is 22.5%. 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 | 3,516 |
Total Units Section 8 | 2,494 |
% Rentals under Section 8 | 22.5% |
% Occupied Section 8 | 89.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$140 | $1,580 | $1,440 |
| 2 Bedroom | -$470 | $2,200 | $1,730 |
| 3 Bedroom | -$210 | $2,400 | $2,190 |
| 4 Bedroom | -$80 | $2,600 | $2,520 |
Affordability — Newark, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.3 |
| Median Home Price | $504,000 |
| Median Household Income | $49,900 |