Elizabeth, NJ—07201
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elizabeth, NJ
As of Oct '25, the median home price in Elizabeth, NJ is $503,000, with a year-over-year change of 6.0%. This indicates that home prices in Elizabeth, NJ are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $503,000 | 6.0% |
| Single Family | $514,000 | 6.2% |
| 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 | $493,000 | 5.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elizabeth, NJ
As of July '25, Rentcast reports the average rent in Elizabeth, NJ is $2,460, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Elizabeth, NJ is studios: $1,690, 1-bedrooms: $1,760, 2-bedrooms: $2,230, 3-bedrooms: $2,730, 4-bedrooms: $3,650. The most common rental property sizes in Elizabeth, NJ are 2-bedroom and 3-bedroom, accounting for 38.5% and 28.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,460 |
| Studio Rent | $1,800 | $1,690 |
| 1 Bed Rent | $1,700 | $1,760 |
| 2 Bed Rent | $2,250 | $2,230 |
| 3 Bed Rent | $2,700 | $2,730 |
| 4 Bed Rent | $3,600 | $3,650 |
% of Rental Stock
Property Listings — Elizabeth, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Elizabeth, NJ is 43. This is a increase of 20.0% 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 | $465,000 | -2.0% |
Listing Count | 10 | -11.0% |
| Listings as % of Homes | 0.1% | -11.0% |
Days on Market | 43 | 20.0% |
Demographics — Elizabeth, NJ
As of the latest ACS Survey released in 2023, Elizabeth, NJ has a population of 27,700, which has remained stable by -0.2% over the past 5 years. Elizabeth, NJ is a popular place for families, as children make up 25.7% of the population. The area has a poorly educated workforce, with 15.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,700 | -0.2% |
% Under 18 | 25.7% | -0.4% |
% Seniors | 9.6% | -1.0% |
% WFH | 4.7% | 104.3% |
% w/ College Degree | 15.0% | 28.2% |
As of the latest ACS Survey released in 2023, Elizabeth, NJ is a predominantly hispanic area, with 64.6% of the population identifying as hispanic. The hispanic population has grown by 5.7% in the last 5 years. The second most common race or ethnicity in Elizabeth, NJ is black, making up 20.0% of the population. Foreign-born residents account for 51.6% of the population in Elizabeth, NJ, and this percentage has increased by 7.9% 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 | 12.1% | 0.0% |
% Black | 20.0% | -20.3% |
% Hispanic | 64.6% | 5.7% |
% Asian | 1.4% | 27.3% |
% Foreign Born | 51.6% | 7.9% |
Mortgage and Risk — Elizabeth, NJ
According to HUD data as of 2023, there were 166 mortgage originations in Elizabeth, NJ, of which 64.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Elizabeth, NJ. Investor activity is low, as 8.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 166 |
% Conventional Loans | 64.0% |
% Government Loans | 36.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Elizabeth, NJ
As of 2024, the percent of homes in Elizabeth, NJ under the Section 8 program is 5.5%. 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 Elizabeth, 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 | 539 |
Total Units Section 8 | 417 |
% Rentals under Section 8 | 5.5% |
% Occupied Section 8 | 91.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$210 | $1,700 | $1,490 |
| 2 Bedroom | -$450 | $2,250 | $1,800 |
| 3 Bedroom | -$430 | $2,700 | $2,270 |
| 4 Bedroom | -$1,020 | $3,600 | $2,580 |
Affordability — Elizabeth, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.4 |
| Median Home Price | $503,000 |
| Median Household Income | $62,000 |