Home Values

07024 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

$502,200

  • 0.1% 1-year change
  • -0.7% 1-year forecast

The median home value in 07024 is $502,200. 07024 home values have gone up 0.1% over the past year and Zillow predicts they will fall -0.7% within the next year. The median list price per square foot in 07024 is None. The median rent price in 07024 is $2,095, which is higher than the Fort Lee median of $2,070.

Foreclosures will be a factor impacting home values in the next several years. In 07024 1.4 homes are foreclosed (per 10,000). This is the same as the Fort Lee value of 1.4 and also lower than the national value of 3.9

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 07024 homeowners underwater on their mortgage is 15.2%, which is higher than Fort Lee at 14.3%.

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Relative ZHVI
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07024 Market Overview

Data through Apr 30, 2015
  • $502,200 ZHVI
  • -0.7% 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
    (Apr 30, 2016)
  • No data Median listing price
  • $395,000 Median sale price
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07024 Market Health

Data through Apr 30, 2015
  • 4.1/10 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.
    (Feb 28, 2015)
  • No data Average days on Zillow
  • 15.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • No data Delinquent on mortgage (6.3% US Avg)

Homes foreclosed (per 10,000)

1.4 homes 07024
1.4 homes Fort Lee
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
07632 $1,096,100
10027 $839,200
10031 $598,300
Name Median ZHVI
07650 $488,800
07605 $477,700
07020 $443,900
Name Median ZHVI
07657 $398,100
07010 $381,900
07631 $328,200

Listings & Sales

  • No data
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07024 Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $2,672 07024
    $2,670 Fort Lee
    $1,364 United States

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

  • 3.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $2,095 Rent list price
  • $2.27 Rent list price / sq ft
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