Elizabeth, NJ—07208
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 $567,000, with a year-over-year change of 4.5%. This indicates that home prices in Elizabeth, NJ are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $567,000 | 4.5% |
| Single Family | $576,000 | 2.9% |
| 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 | $551,000 | 0.5% |
4 Bed | $607,000 | 0.5% |
| 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 $2,300, with a year-over-year rent change of -13.5%. Per bedroom, the median rent as of July '25 in Elizabeth, NJ is studios: $1,480, 1-bedrooms: $1,690, 2-bedrooms: $2,360, 3-bedrooms: $2,720, 4-bedrooms: $3,350. The most common rental property sizes in Elizabeth, NJ are 1-bedroom and 2-bedroom, accounting for 44.4% and 33.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,300 |
| Studio Rent | $1,450 | $1,480 |
| 1 Bed Rent | $1,700 | $1,690 |
| 2 Bed Rent | $2,300 | $2,360 |
| 3 Bed Rent | $2,700 | $2,720 |
| 4 Bed Rent | $2,800 | $3,350 |
% 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 36. This is a decrease of -25.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $590,000 | 1.0% |
Listing Count | 31 | 10.0% |
| Listings as % of Homes | 0.2% | 10.0% |
Days on Market | 36 | -25.0% |
Demographics — Elizabeth, NJ
As of the latest ACS Survey released in 2023, Elizabeth, NJ has a population of 32,400, which has increased by 3.1% over the past 5 years. Elizabeth, NJ is a moderately popular place for families, as children make up 22.5% of the population. The area has a poorly educated workforce, with 21.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,400 | 3.1% |
% Under 18 | 22.5% | -12.5% |
% Seniors | 12.8% | 13.3% |
% WFH | 5.8% | 123.1% |
% w/ College Degree | 21.2% | 1.0% |
As of the latest ACS Survey released in 2023, Elizabeth, NJ is a predominantly hispanic area, with 61.2% of the population identifying as hispanic. The hispanic population has grown by 3.7% in the last 5 years. The second most common race or ethnicity in Elizabeth, NJ is white, making up 19.0% of the population. Foreign-born residents account for 52.0% of the population in Elizabeth, NJ, and this percentage has increased by 17.9% 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 | 19.0% | 6.7% |
% Black | 18.0% | 2.3% |
% Hispanic | 61.2% | 3.7% |
% Asian | 2.5% | -41.9% |
% Foreign Born | 52.0% | 17.9% |
Mortgage and Risk — Elizabeth, NJ
According to HUD data as of 2023, there were 168 mortgage originations in Elizabeth, NJ, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Elizabeth, NJ. Investor activity is low, as 7.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 168 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Elizabeth, NJ
As of 2024, the percent of homes in Elizabeth, NJ under the Section 8 program is 5.0%. 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 | 841 |
Total Units Section 8 | 547 |
% Rentals under Section 8 | 5.0% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $1,700 | $1,600 |
| 2 Bedroom | -$360 | $2,300 | $1,940 |
| 3 Bedroom | -$260 | $2,700 | $2,440 |
| 4 Bedroom | -$20 | $2,800 | $2,780 |
Affordability — Elizabeth, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.4 |
| Median Home Price | $567,000 |
| Median Household Income | $61,900 |