Essex County Home Prices & Values

$286,300 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • -0.6% 1-year change
  • 2.6% 1-year forecast

The median home value in Essex County is $286,300. Essex County home values have declined -0.6% over the past year and Zillow predicts they will rise 2.6% within the next year. The median list price per square foot in Essex County is $162, which is lower than the New York Metro average of $264. The median price of homes currently listed in Essex County is $300,000 while the median price of homes that sold is $303,550. The median rent price in Essex County is $1,300, which is lower than the New York Metro median of $2,850.

Foreclosures will be a factor impacting home values in the next several years. In Essex County 0.4 homes are foreclosed (per 10,000). This is lower than the New York Metro value of 1.1 and also lower than the national value of 4.3

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 Essex County is 29.3%, which is higher than the national value of 7.2%. 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 Essex County homeowners underwater on their mortgage is 22.2%, which is higher than New York Metro at 15.7%.

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Relative ZHVI
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Essex County Market Overview

Data through Jun 30, 2014
  • $286,300 ZHVI
  • 2.6% 1-yr forecast What's This?  
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    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, 2015)
  • $300,000 Median listing price
  • $303,550 Median sale price (Apr 30, 2014)
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Essex County Market Health

Data through Jun 30, 2014
  • 0.2/10 Less healthy What's This?  
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    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.

  • 181 Average of days on Zillow (Apr 30, 2014)
  • 22.2% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 29.3% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

0.4 homes(Apr 30, 2014) Essex County
1.1 homes New York Metro
4.3 homes United States
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Cities in Essex County

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Essex Fells $766,100 Glen Ridge $506,800 Montclair $501,500
South Orange $471,900 Caldwell $407,000 Verona $366,000
West Orange $306,000 Orange $157,000 East Orange $156,200

Listings & Sales

Data through Jun 30, 2014
  • $162 Median list price / sq ft
  • $171 Median sale price / sq ft (Apr 30, 2014)
  • 25.2% Listings with price cut
34.2%
Sold below listing
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Essex County Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$1,712 Essex County
$2,300 New York Metro
$1,310 United States
  • 5.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $1,300 Rent list price
  • No data Rent list price / sq ft
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