Home Values

South Orange 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

$524,500

  • -0.8% 1-year change
  • -0.3% 1-year forecast

The median home value in South Orange is $524,500. South Orange home values have declined -0.8% over the past year and Zillow predicts they will fall -0.3% within the next year. The median rent price in South Orange is $1,875, which is lower than the New York Metro median of $2,500.

Foreclosures will be a factor impacting home values in the next several years. In South Orange 3.3 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.9 and also lower than the national value of 3.8

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 South Orange is 17.4%, 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 South Orange homeowners underwater on their mortgage is 6.8%, which is lower than New York Metro at 12.4%.

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Relative ZHVI
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South Orange Market Overview

Data through Jun 30, 2015
  • $524,500 ZHVI
  • -0.3% 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
    (Jun 30, 2016)
  • No data Median listing price
  • $564,882 Median sale price (May 31, 2015)
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South Orange Market Health

Data through Jun 30, 2015
  • 4.3/10 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
  • 6.8% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 17.4% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

3 South Orange
2 New York Metro
4 United States
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Nearby Cities

Name Median ZHVI
Short Hills $1,163,000
Millburn $652,400
Maplewood $440,500
Name Median ZHVI
West Orange $326,800
Union $265,000
Hillside $186,300
Name Median ZHVI
Orange $177,700
East Orange $173,300
Irvington $156,300

Listings & Sales

Data through May 31, 2015
  • No recent data Median list price / sq ft
  • $246 Median sale price / sq ft
  • No data Listings with price cut
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South Orange Rentals

Data through Jun 30, 2015
  • Zillow Rent Index

  • $2,662 South Orange
    $2,340 New York Metro
    $1,369 United States

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

  • 3.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Mar 31, 2015)
  • $1,875 Rent list price
  • No data Rent list price / sq ft
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