The story of this market
The typical home in ZIP 07050 sells for about $549,000, or $325 per square foot.
Prices are down 2.3% from a year ago, which gives buyers more room to negotiate. Homes take about 59 days to sell. HUD's fair market rent for a two-bedroom is $2,150 a month.
ZIP 07050 — Orange
The housing market in 07050 shows signs of cooling with a slight year-over-year decline in median prices and a moderate inventory level. While demand remains supported by commuters, high property taxes and economic headwinds are tempering buyer enthusiasm. The market is currently characterized by a mix of older housing stock and ongoing transit-oriented redevelopment efforts.
This ZIP is well-suited for commuters and renters looking for transit access to NYC at a lower price point than the immediate waterfront, as well as investors targeting multi-family properties.
Median prices moved down 2.3% year over year.
Homes spend a median of 59 days on market with 3.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.8% · poverty 18.5% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 07050, Essex County NJ
Crime rates in Orange are higher than the national average, with property and violent crime trends remaining a primary concern for local law enforcement compared to surrounding suburban municipalities.
Public schools in the area are part of the Orange Public School District, which faces ongoing challenges regarding academic performance and resource allocation compared to neighboring districts.
The area is primarily an urban environment with standard flood risks associated with local drainage; property insurance premiums are influenced by regional urban density and fire risk factors.
Economic momentum is driven by proximity to Newark and New York City, with ongoing efforts to revitalize the downtown corridor and transit-oriented development near the Orange train station.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (New Jersey) — Farmland Assessment: Property is assessed based on its productive capability for agricultural use rather than its full market value, resulting in a lower tax burden. State (New Jersey) — Ad Valorem Property Tax: Tax is calculated as (Assessed Value * Tax Rate). Assessed value is determined by the municipal assessor at 100% of true market value. The tax rate is set by local taxing districts to cover municipal, county, and school budgets.
Residents benefit from direct NJ Transit rail service to New York Penn Station and proximity to major highways like I-280, making it a viable commuter hub.
The area features access to local parks such as Orange Park and nearby South Mountain Reservation, providing trails and green space within a short drive.
The rental market is deep with high demand for multi-family units, driven by commuters seeking more affordable alternatives to Jersey City and Hoboken.
The local economy is anchored by healthcare, education, and public sector employment, with many residents commuting to Newark and Manhattan.
The area is served by NJ Transit rail and bus lines, with easy access to the Garden State Parkway and I-280.
Development is focused on transit-oriented residential projects and the rehabilitation of older housing stock.
The Essex County Board of Taxation oversees assessments, with properties typically reassessed periodically to reflect market value changes.
Parcels are subject to municipal, county, and school district taxes, with no significant MUD/PID districts reported.
Property insurance costs are rising due to regional climate risks and urban fire exposure, consistent with broader New Jersey trends.
New Jersey continues to see net domestic out-migration, though urban centers like Orange attract younger professionals and international migrants.
New Jersey is a judicial foreclosure state, requiring court intervention for all foreclosure proceedings.
Sellers are required to provide a comprehensive property condition disclosure statement covering known defects.
Data retrieved from Census Reporter and US Census Bureau QuickFacts.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- American Dream4.59 mi
- Supercharged Entertainment4.818.6 mi
- DreamWorks Water Park4.39 mi
- Nickelodeon Universe Theme Park4.58.9 mi
- Color Factory NYC4.412.2 mi
- American Dream4.59 mi
- MetLife Stadium4.58.9 mi
- Madison Square Garden4.712.6 mi
- Yankee Stadium4.716.6 mi
- Barclays Center4.514.7 mi
- Times Square4.712.9 mi
- Empire State Building4.713 mi
- American Dream4.59 mi
- MetLife Stadium4.58.9 mi
- Madison Square Garden4.712.6 mi
- The Metropolitan Museum of Art4.814.1 mi
- Rockefeller Center4.713.3 mi
- Empire State Building4.713 mi
- The Museum of Modern Art4.613.4 mi
- American Museum of Natural History4.613.6 mi
- 9/11 Memorial & Museum4.812.1 mi
- The High Line4.712 mi
- The Battery4.612.2 mi
- Washington Square Park4.612.6 mi
- Little Island4.711.8 mi
- Galloping Hill Golf Course4.46.2 mi
- 21 Golf Range Powered by Toptracer4.512.9 mi
- Puttery4.711.9 mi
- Baltusrol Golf Club4.76.6 mi
- Five Iron Golf4.912.8 mi
- American Dream4.59 mi
- Chelsea Market4.612 mi
- Macy's4.412.8 mi
- The Mills at Jersey Gardens4.58.1 mi
- Hudson Yards4.712.2 mi
- Newark Liberty International Airport3.76.2 mi
- LaGuardia Airport4.118.8 mi
- Teterboro Airport4.410.9 mi
- North Shore University Hospital Heliport4.627.8 mi
- Chico Express3.915.3 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A historic public park offering green space and recreational facilities.
Provides essential NJ Transit rail access to Newark and New York City.
The primary commercial corridor featuring local retail and dining establishments.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.