The story of this market
The typical home in ZIP 07202 sells for about $579,900, or $325 per square foot.
Prices are up +7.3% from a year ago, so sellers still have some momentum. Homes take about 83 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,565 a month.
ZIP 07202 — Elizabeth
The 07202 housing market is showing resilience with a 7.3% year-over-year price increase, driven by strong demand for transit-accessible housing. While inventory remains tight, the market is seeing a steady flow of sales, reflecting a competitive environment for buyers. Overall sentiment is cautiously optimistic as the area continues to benefit from its strategic location near major employment hubs.
This ZIP is well-suited for commuters seeking proximity to NYC and Newark, as well as investors looking for multi-family opportunities. It is also a viable option for families prioritizing transit access over suburban space.
Median prices moved up 7.3% year over year.
Homes spend a median of 83 days on market with 2.1 months of supply — a fast-moving market.
8% 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 5.5% · poverty 13.0% — a stable, low-distress 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 10.0%/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 5.3%/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 07202, Union County NJ
Crime rates in Elizabeth are higher than the national average, with property and violent crime trends remaining a primary focus for local law enforcement. The area experiences higher crime density compared to more suburban parts of Union County.
Public schools in the area are part of the Elizabeth Public Schools district, which serves a large and diverse student population. Performance ratings vary significantly across individual campuses, with many schools focusing on bilingual education and support services.
The area faces moderate flood risks due to its proximity to the Elizabeth River and coastal lowlands. Property insurance premiums are influenced by these flood zone designations and the general urban density of the region.
Economic momentum is driven by proximity to Newark Liberty International Airport and major logistics hubs. Infrastructure projects focus on transit-oriented development and the revitalization of the downtown corridor.
Property taxes in Elizabeth are among the highest in New Jersey, driven by municipal and school district levies. The city utilizes a standard assessment model based on fair market value, with no specific MUD/PID structures common in other states.
Residents benefit from excellent transit access, including NJ Transit rail lines at the Elizabeth station providing direct service to New York Penn Station. Major highway corridors like the New Jersey Turnpike and I-95 facilitate regional commuting.
The area features several local parks such as Veteran's Memorial Park and proximity to the waterfront. Shopping and dining are concentrated along the Broad Street corridor and nearby retail centers.
The rental market is highly active with low vacancy rates due to high demand from commuters. Short-term rental activity is regulated by city ordinances, and investor interest remains steady for multi-family properties.
The economy is anchored by logistics, transportation, and healthcare sectors. Major employers include the Port of New York and New Jersey and various regional distribution centers.
The area is highly connected via NJ Transit rail and bus networks. Proximity to the New Jersey Turnpike and Newark Airport makes it a strategic logistics and commuter hub.
Development is focused on transit-oriented residential projects and the modernization of industrial sites near the port. City planning emphasizes urban renewal and infrastructure upgrades.
The Union County Board of Taxation oversees the assessment process, which is conducted at the municipal level by the Elizabeth Tax Assessor.
Parcels are subject to municipal, county, and school district taxes. No special MUD or PID districts are utilized in this jurisdiction.
Property insurance costs are elevated due to the urban environment and flood zone exposure. Market health is stable but sensitive to regional climate risk assessments.
New Jersey is a judicial foreclosure state, requiring court intervention for all foreclosure proceedings.
New Jersey requires sellers to provide a comprehensive property condition disclosure statement to buyers.
Data retrieved from data.census.gov ZCTA 07202 profile.
- American Dream4.513.3 mi
- Supercharged Entertainment4.812.2 mi
- DreamWorks Water Park4.313.2 mi
- Nickelodeon Universe Theme Park4.513.1 mi
- Color Factory NYC4.412.1 mi
- American Dream4.513.3 mi
- MetLife Stadium4.513.4 mi
- Madison Square Garden4.713.5 mi
- Barclays Center4.512.7 mi
- Yankee Stadium4.719.5 mi
- Brooklyn Bridge4.812 mi
- Statue of Liberty4.79.3 mi
- The Battery4.611 mi
- The High Line4.712.9 mi
- Washington Square Park4.612.6 mi
- The Metropolitan Museum of Art4.815.9 mi
- Rockefeller Center4.714.4 mi
- Empire State Building4.713.7 mi
- The Museum of Modern Art4.614.6 mi
- American Museum of Natural History4.615.5 mi
- 9/11 Memorial & Museum4.811.3 mi
- The Battery4.611 mi
- The High Line4.712.9 mi
- Washington Square Park4.612.6 mi
- Little Island4.712.4 mi
- Elizabeth Marina4.61.5 mi
- Topgolf Edison4.312.2 mi
- Galloping Hill Golf Course4.44 mi
- Dyker Beach Golf Course4.110.5 mi
- Puttery4.712.5 mi
- Baltusrol Golf Club4.77 mi
- Chelsea Market4.612.6 mi
- The Mills at Jersey Gardens4.52.4 mi
- Menlo Park Mall4.49.6 mi
- The Mall at Short Hills4.59.9 mi
- Newport Centre4.410.7 mi
- Newark Liberty International Airport3.73.2 mi
- LaGuardia Airport4.119.8 mi
- Teterboro Airport4.416.4 mi
- North Shore University Hospital Heliport4.628.3 mi
- Chico Express3.911.1 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A central green space providing recreational facilities for the community.
A major regional outlet mall located nearby, serving as a significant economic anchor.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.