Home Values

07079 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

$539,900

  • 6.2% 1-year change
  • 1.9% 1-year forecast

The median home value in 07079 is $539,900. 07079 home values have gone up 6.2% over the past year and Zillow predicts they will rise 1.9% within the next year. The median list price per square foot in 07079 is None.

Foreclosures will be a factor impacting home values in the next several years. In 07079 2.2 homes are foreclosed (per 10,000). This is the same as the South Orange value of 2.2 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 07079 homeowners underwater on their mortgage is 8.7%, which is higher than South Orange at 7.3%.

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Relative ZHVI
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07079 Market Overview

Data through Apr 30, 2015
  • $539,900 ZHVI
  • 1.9% 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
  • $493,750 Median sale price (Feb 28, 2015)
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07079 Market Health

Data through Apr 30, 2015
  • 6.4/10 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
  • 8.7% 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)

2.2 homes(Feb 28, 2015) 07079
2.2 homes(Feb 28, 2015) South Orange
3.9 homes United States
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Nearby Zip Codes

Name Median ZHVI
07041 $653,600
07040 $441,200
07052 $326,600
Name Median ZHVI
07083 $265,000
07050 $177,700
07017 $176,400
Name Median ZHVI
07018 $165,600
07111 $156,300
07106 $152,400

Listings & Sales

Data through Feb 28, 2015
  • No recent data Median list price / sq ft
  • $224 Median sale price / sq ft
  • No data Listings with price cut
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07079 Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $2,602 07079
    $2,619 South Orange
    $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

  • 5.1 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • No data Rent list price
  • $1.73 Rent list price / sq ft
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