The story of this market
The typical home in ZIP 07107 sells for about $379,949, or $306 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 68 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,354 a month.
ZIP 07107 — Newark
The 07107 housing market is currently balanced, with a median home price of $379,949 and steady demand from local buyers. While inventory remains tight, the market is seeing a slight year-over-year price adjustment, reflecting broader regional economic pressures and interest rate sensitivity.
This ZIP is well-suited for commuters seeking proximity to NYC and urban-focused renters or investors, though it presents challenges for families prioritizing top-tier school districts.
Median prices moved down 2.1% year over year.
Homes spend a median of 68 days on market with 3.8 months of supply — a balanced-paced market.
13% 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 12.4% · poverty 24.9% — elevated distress and economic pressure.
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 8.3%/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 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 07107, Essex County NJ
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Newark remain a significant concern, with property and violent crime levels consistently higher than both the New Jersey state average and national benchmarks.
Public schools in the area are primarily served by Newark Public Schools, which faces ongoing challenges with academic performance and resource allocation compared to suburban districts.
The area is subject to standard urban flood risks and requires standard property insurance coverage; it is not in a high-risk wildfire zone.
Economic momentum is driven by Newark's proximity to major transit hubs and ongoing urban redevelopment projects, though the area remains heavily reliant on regional employment centers.
Property taxes are assessed at the municipal level by Newark, which maintains one of the highest effective tax rates in the state due to the city's reliance on property tax revenue to fund public services.
Residents benefit from proximity to Newark Penn Station and major highway corridors like I-280 and the Garden State Parkway, facilitating access to New York City and regional employment hubs.
The area features local urban parks and is within a short drive of Branch Brook Park, known for its cherry blossoms, and various shopping districts along major commercial corridors.
The rental market is characterized by high demand and low vacancy rates, with a significant portion of the housing stock consisting of multi-family units and investor-owned properties.
The local economy is anchored by healthcare, education, and logistics, with major employers including Prudential Financial and various regional medical centers.
The area is highly accessible via NJ Transit rail lines and extensive bus networks connecting to Newark Penn Station and Manhattan.
Ongoing urban renewal initiatives focus on transit-oriented development and the conversion of older industrial sites into residential and mixed-use spaces.
Parcels are subject to Newark municipal taxes and Essex County levies, with no significant MUD/PID districts reported.
Property insurance premiums are influenced by urban density and regional flood risk profiles, with standard market availability.
Data retrieved from US Census Bureau ZCTA-level tables.
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 Dream4.56.8 mi
- Supercharged Entertainment4.819.6 mi
- DreamWorks Water Park4.36.7 mi
- Nickelodeon Universe Theme Park4.56.6 mi
- Color Factory NYC4.49.8 mi
- American Dream4.56.8 mi
- MetLife Stadium4.56.7 mi
- Madison Square Garden4.710.1 mi
- Yankee Stadium4.714.3 mi
- Barclays Center4.512.4 mi
- Times Square4.710.5 mi
- Rockefeller Center4.710.8 mi
- The Metropolitan Museum of Art4.811.7 mi
- Brooklyn Bridge4.810.7 mi
- Central Park4.811.6 mi
- The Metropolitan Museum of Art4.811.7 mi
- Rockefeller Center4.710.8 mi
- Empire State Building4.710.5 mi
- The Museum of Modern Art4.610.9 mi
- American Museum of Natural History4.611.1 mi
- Central Park4.811.6 mi
- 9/11 Memorial & Museum4.89.8 mi
- Bryant Park4.710.6 mi
- The High Line4.79.6 mi
- The Battery4.69.9 mi
- Galloping Hill Golf Course4.47.4 mi
- 21 Golf Range Powered by Toptracer4.510.8 mi
- Puttery4.79.5 mi
- Five Iron Golf4.910.4 mi
- Baltusrol Golf Club4.78.6 mi
- American Dream4.56.8 mi
- Chelsea Market4.69.5 mi
- Macy's4.410.4 mi
- The Mills at Jersey Gardens4.57.4 mi
- Hudson Yards4.79.7 mi
- Newark Liberty International Airport3.75.4 mi
- LaGuardia Airport4.116.3 mi
- Teterboro Airport4.49.1 mi
- North Shore University Hospital Heliport4.625.3 mi
- Chico Express3.913.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Famous for the largest collection of cherry blossoms in the United States.
A major cultural institution located nearby in Newark.
A historic urban park serving as a central gathering space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.