Home Values

07206 Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$208,400

  • 19.5% 1-year change
  • 4.4% 1-year forecast

The median home value in 07206 is $208,400. 07206 home values have gone up 19.5% over the past year and Zillow predicts they will rise 4.4% within the next year. The median price of homes currently listed in 07206 is $190,000 while the median price of homes that sold is $195,000. The median rent price in 07206 is $1,250, which is the same as the Elizabeth median of $1,250.

Foreclosures will be a factor impacting home values in the next several years. In 07206 8.0 homes are foreclosed (per 10,000). This is lower than the Elizabeth value of 8.6 and also greater than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in 07206 is 39.8%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of 07206 homeowners underwater on their mortgage is 42.8%, which is higher than Elizabeth at 37.4%.

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Relative ZHVI
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07206 Market Overview

Data through Nov 30, 2014
  • $208,400 ZHVI
  • 4.4% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Nov 30, 2015)
  • $190,000 Median listing price
  • No recent data Median sale price
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07206 Market Health

Data through Nov 30, 2014
  • 1.6/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 42.8% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 39.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

8 homes 07206
8.6 homes Elizabeth
4.2 homes United States
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Nearby Zip Codes

Name Median ZHVI
10310 $398,000
10314 $395,100
10302 $328,600
Name Median ZHVI
10303 $283,700
07208 $261,400
07202 $250,000
Name Median ZHVI
07201 $236,800
07036 $236,300
07205 $204,000

Listings & Sales

Data through Nov 30, 2014
  • $99 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • No data Listings with price cut
42.3%
Sold below listing
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07206 Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $1,701 07206
    $1,730 Elizabeth
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,250 Rent list price
  • $1.25 Rent list price / sq ft
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