Home Values

Elizabeth 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

$236,700

  • 9.6% 1-year change
  • 2.1% 1-year forecast

The median home value in Elizabeth is $236,700. Elizabeth home values have gone up 9.6% over the past year and Zillow predicts they will rise 2.1% within the next year. The median list price per square foot in Elizabeth is $98, which is lower than the New York Metro average of $253. The median price of homes currently listed in Elizabeth is $209,000 while the median price of homes that sold is $186,898. The median rent price in Elizabeth is $1,295, which is lower than the New York Metro median of $2,400.

Foreclosures will be a factor impacting home values in the next several years. In Elizabeth 5.1 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.4 and also greater than the national value of 3.9

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 Elizabeth is 29.9%, which is higher than the national value of 6.3%. 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 Elizabeth homeowners underwater on their mortgage is 35.3%, which is higher than New York Metro at 13.1%.

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Relative ZHVI
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Elizabeth Market Overview

Data through Feb 28, 2015
  • $236,700 ZHVI
  • 2.1% 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
    (Feb 29, 2016)
  • $209,000 Median listing price
  • $186,898 Median sale price
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Elizabeth Market Health

Data through Feb 28, 2015
  • 1.4/10 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
  • 35.3% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 29.9% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)

Homes foreclosed (per 10,000)

5.1 homes Elizabeth
1.4 homes New York Metro
3.9 homes United States
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Nearby Cities

Name Median ZHVI
Bayonne $267,800
Union $265,000
Roselle Park $242,500
Name Median ZHVI
Linden $219,600
Carteret $205,600
Hillside $186,300
Name Median ZHVI
Newark $183,800
Irvington $156,300
Roselle $155,100

Listings & Sales

Data through Feb 28, 2015
  • $98 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • 7.4% Listings with price cut
27.0%
Sold below listing
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Elizabeth Rentals

Data through Feb 28, 2015
  • Zillow Rent Index

  • $1,659 Elizabeth
    $2,348 New York Metro
    $1,355 United States

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

  • 1.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,295 Rent list price
  • $1.19 Rent list price / sq ft
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