New Jersey 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

$282,500

  • -0.6% 1-year change
  • -0.5% 1-year forecast

The median home value in New Jersey is $282,500. New Jersey home values have declined -0.6% over the past year and Zillow predicts they will fall -0.5% within the next year. The median rent price in New Jersey is $1,900.

Foreclosures will be a factor impacting home values in the next several years. In New Jersey 2.7 homes are foreclosed (per 10,000). This is lower than the national value of 3.6

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 New Jersey is 17.0%, which is higher than the national value of 6.0%. 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 New Jersey homeowners underwater on their mortgage is 16.7%.

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Relative ZHVI
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New Jersey Market Overview

Data through Jul 31, 2015
  • $282,500 ZHVI
  • -0.5% 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
    (Jul 31, 2016)
  • No data Median listing price
  • $302,000 Median sale price
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New Jersey Market Health

Data through Jul 31, 2015
  • 1.0/10 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.
  • 127 Average days on Zillow (Jun 30, 2015)
  • 16.7% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 17.0% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

3 New Jersey
4 United States
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Cities in New Jersey

Name Median ZHVI
Edison $315,200
Clifton $287,000
Jersey City $275,500
Name Median ZHVI
Toms River $250,100
Lakewood Township $235,700
Elizabeth $208,900
Name Median ZHVI
Paterson $199,300
Newark $183,800
Trenton $80,300

Listings & Sales

Data through Jul 31, 2015
  • No recent data Median list price / sq ft
  • $179 Median sale price / sq ft
  • No data Listings with price cut
24.6%
Sold below previous sale price
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New Jersey Rentals

Data through Jul 31, 2015
  • Zillow Rent Index

  • $2,004 New Jersey
    $1,376 United States

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

  • No data Breakeven horizon
  • $1,900 Rent list price
  • $1.41 Rent list price / sq ft
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