Newark, New Jersey.
Typical home $480,494 (-1.0% in a year), asking rent $2,111 (+0.3%). New York-Newark-Jersey City, NY-NJ-PA metro.
to buy the typical home at today's mortgage rate — +$1,332 (+112%) since Jan 2020.
- 1 year
- Down $4,882 -1%
- $485,376$480,494 since Sep 2025
- 5 years
- Up $84,236 +21%
- $396,257$480,494 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Newark$2,522
- New Jersey$3,019
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 18 years.
Typical home values in Newark, NJ fell 1.0% over the past year — slower than the nation's +1.2%.
Asking rents in Newark, NJ rose 0.3% over the past year — slower than the nation's +2.7%.
Owning the typical home in Newark runs $1,690/mo more than renting one. The gap peaked at $1,866 in Oct 2023.
That is $3,800 a month against $2,111 rent: a $2,522 mortgage payment, plus $764 property tax and $514 insurance & upkeep.
Owning vs renting — Newark
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$3,800
- Renting$2,111
- Mortgage only$2,522
Property tax · $764/mo 1.91% of value a year — the ACS 2020-2024 median bill over the median home value for Essex County, NJ
Insurance & upkeep · $514/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Newark, Essex County, New Jersey
Newark is a city of 311,549 people in Essex County. Half its households earn more than $52,060 a year and half less, against $80,789 across Essex County; 23% of its people live below the poverty line. 24% of its homes are lived in by their owners and 76% are rented. Unemployment in Newark was 7.0% in August 2026, and Essex County had 1.1% more jobs in 2025 than the year before. The most residents work in schools and health care, then transport and warehouses.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Newark is a large, young city and the biggest in New Jersey, with a younger population than is typical across the country. Most households rent rather than own, and incomes run well below the county's, while many residents live below the poverty line. Winters are cold, with a fair amount of snow, and summers turn quite warm, with rain and melted snow spread through the year.
Work. Residents work mainly in schools, hospitals and social care, in transport, warehouses and utilities, in the building trades, and in professional and business services. Among the largest workplaces in Newark are the Newark Public School District, University Hospital and Rutgers University-Newark. Unemployment is lower than a year ago, though still high, and the typical commute is a fairly long one, with few people working from home.
Things to do. The Statue of Liberty, a tourist attraction, is a short drive away, as is MetLife Stadium. Sports Illustrated Stadium is in or beside town. Farther afield, a longer drive brings you to Central Park and a string of well-known museums, including the Metropolitan Museum of Art and the Museum of Modern Art.
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- 113,384households
- 20%of adults have a degree
- 23%below the poverty line
- 33 mintypical commute
- 7%work from home
What residents work in
Employed residents by industry, from the Census survey. Essex County had 353,038 jobs in 2025, 1.1% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 39° and lows near 25°; warmest in July, with highs near 87° and lows near 69°. About 28 inches of snow and 50 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Harrison weather station, 2 miles away (NOAA).
Largest workplaces in Newark
- Newark Public School DistrictSchool district6,610FTE
- Pseg6,545
- UH - University HospitalGeneral hospital3,836FTE
- Newark Beth Israel Medical CenterGeneral hospital2,810FTE
- Rutgers University-NewarkUniversity or college2,003
- Grocery Delivery E-Services USAPrepared meals, perishable, packaged for individual resale1,517
- Devils Arena EntertainmentArena operators872
- TEAM Academy Charter SchoolSchool district857FTE
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 116 workplaces with 20 or more staff, 26,212 people in all. School districts come from the Common Core of Data (NCES, 2023–24), hospitals from their Medicare cost reports (CMS, 2023) and colleges from IPEDS (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Heat wavesrelatively high in parts of NewarkRelatively moderate
- Strong windRelatively moderate
- Winter weatherRelatively moderate
- Cold wavesRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Newark’s census tracts, against the rest of the country; all of them together, relatively low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Essex County and the New York-Newark-Jersey City, NY-NJ-PA metro.
Newark home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Newark$480,494
- New Jersey$575,123
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 8 Newark listings, and the typical home goes pending in 38 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Newark12.79%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Newark38
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Newark243
New listings per month
Sellers arriving at the market.
- Newark62
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Newark$471,048
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Newark104.22%
Zip codes with a Newark address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Newark — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Newark
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 07105 | Newark | 57,093 | $2,349 | $553,695 |
| 07104 | Newark | 52,266 | $2,016 | $498,340 |
| 07107 | Newark | 43,293 | $1,995 | $505,212 |
| 07103 | Newark | 37,293 | $2,149 | $399,304 |
| 07106 | Newark | 36,383 | $2,064 | $462,342 |
| 07112 | Newark | 29,456 | $1,972 | $494,915 |
| 07108 | Newark | 28,790 | $2,065 | $507,455 |
| 07114 | Newark | 13,670 | $1,926 | $452,457 |
| 07102 | Newark | 12,358 | $2,418 | $398,971 |