Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$658,593+3.8% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 10% have cut their price
Income needed to buy, per year$142,769About 1.7× the local median income ($84,900): hard to afford
Days on market38 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.8%Zillow expects prices to rise slightly
The typical home in Essex County, NJ is worth $658,593, up 3.8% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $623,336, so the area is 5.7% overvalued. It is a balanced market: homes take about 38 days to sell, listings are up 35% from a year ago, 10% of listings have had a price cut. Zillow expects prices to rise about 2.8% over the next year. A household needs about $142,769 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $84,900. Typical rent is $2,273 a month, or $2,220 for a house. In the latest IRS figures, 6,783 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$658,593
Change in 1 year
+3.8%
Overvalued %
+5.7%
Show 7 more
Fair home value
$623,336
Change in 5 years
+32.5%
Zillow forecast, next 12 months
+2.8%
Home value to income
7.8×
Monthly mortgage payment (20% down)
$3,569
Income needed to afford it
$142,769
Property tax rate
1.91%
Rent and investing
Typical rent
$2,273
Typical rent for houses
$2,220
Price-to-rent ratio
24.1×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$2,233
Gross rental yield
4.14%
Cap rate (estimate)
2.69%
Market activity
Listings vs a year ago
+34.6%
Days on market
38
Listings with a price cut
9.9%
Show 3 more
Homes for sale
1,026
Pending sales per 100 listings
47
Asking price per sq ft
$341
People and jobs
Median household income
$84,900
Population change (1 year)
+0.6%
Unemployment rate
8.7%
Show 4 more
Population
896,379
Income adjusted for cost of living
$75,400
Net moves in (IRS)
−6,783
Cost of living (US = 100)
112.6
Schools, risk and environment
School rating (1 to 10)
4.7
FEMA hazard risk score (0 to 100)
97.7
Unhealthy air days a year
0
Show 4 more
Flood risk score
98.8
Wildfire risk score
10.6
Walkability (1 to 20)
13.3
Road, rail and air noise
52 dB
Questions people ask
Is Essex County, NJ overvalued?
Home prices in Essex County, NJ are slightly above what local incomes have historically supported: fair value is about $623,336, so the area is 5.7% overvalued.
Is Essex County, NJ a buyer's or seller's market?
Essex County, NJ is a balanced market: homes take about 38 days to sell, listings are up 35% from a year ago, 10% of listings have had a price cut.
Are home prices going down in Essex County, NJ?
Home values in Essex County, NJ are up 3.8% over the last year. Zillow's forecast for the next 12 months is +2.8%.
How much do you need to earn to buy a home in Essex County, NJ?
A household needs about $142,769 a year to afford the typical home in Essex County, NJ at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $84,900.