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City · 310,178 residents · Essex County, New Jersey

Newark , New Jersey

In Newark, a typical home is worth $373,700 and typical rent is $1,392 a month. Compared with all of Essex County, typical household income is 36% lower, the typical home value is 29% lower, and the share of households that own their home is 21 points lower.

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  • Typical home value

    $373,700

    29% below the county

    18% below New Jersey

    • Newark
    • Essex
    • New Jersey

  • Typical rent

    $1,392a month

    9% below the county

    19% below New Jersey

    • Newark
    • Essex
    • New Jersey

  • Typical household income

    $52,060a year

    36% below the county

    50% below New Jersey

    • Newark
    • Essex
    • New Jersey

  • Households that own their home

    24%

    21 points below the county

    39 points below New Jersey

    • Newark
    • Essex
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$480,494
1% less than 12 months ago
Typical rent
$2,111 a month
about the same as 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Newark is in Essex County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Essex County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Newark apart

What this place has that others do not, from public data, most unusual first.

  1. Newark has the 6th lowest homeownership rate of the 293 cities in New Jersey with more than 5,000 people (24%).

  2. Newark has the 7th lowest typical household income of the 294 cities in New Jersey with more than 5,000 people ($52,060).

  3. According to Zillow, in the 12 months to September 2026 the typical home value in Newark fell 1%; in New Jersey, it rose 4%.

  4. The typical home in Newark is worth $373,700, 29% less than in Essex County as a whole ($524,100).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Newark

What homes there are in Newark, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

No kind of home is the majority in Newark; the largest group, buildings of 2 to 4 homes, adds up to 41%, against 28% in Essex County.

Year built

Homes in Newark are newer: the typical year built is 1966; in Essex County, 1958.

Homes in Newark are smaller: 37% have 3 bedrooms or more; in Essex County, 47%.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

At least 98% of owner-occupied homes in Newark are worth less than $1,000,000, below the FHA loan limit for Essex County ($1,249,125).

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Essex County is $2,233; about 88% of rents in Newark are below it.

With a mortgage

$2,572 a month

Essex County: $3,322 a month

Without a mortgage

$1,059 a month

Essex County: $1,500 or more a month

Owners with a mortgage

68%

Essex County: 68%

Owning costs less in Newark: with a mortgage, the typical cost is $2,572 a month; in Essex County, $3,322. Without one, $1,059.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Newark rose 52%; in Essex County, it rose 36%.

Much as in Essex County, the typical rent in Newark rose 28% since 2015–2019.

The typical household income in Newark rose 48% over that time; home values changed +52% and rent +28%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureNewarkEssex CountyNew JerseyUnited States
Rental vacancy 3.1%2.7%3.5%5.5%
Homeowner vacancy 1.3%0.7%0.7%0.9%
More than one person per room 9.2%6.1%4.0%3.4%
People per household 2.622.632.622.53
Drive alone 49%53%62%69%
Carpool 11%8%8%9%
Public transit 19%16%8%3%
Walk or bike 5%3%3%3%
Work from home 7%16%17%15%
Other means 8%4%2%2%
Typical commute Unreliable estimate30 to 39 minutes20 to 29 minutes20 to 29 minutes

Much as in Essex County, the rental vacancy rate in Newark is 3.1%.

More households are short on space in Newark: 9.2% have more than one person per room; in Essex County, 6.1%.

Much as in Essex County, a household in Newark has 2.62 people on average.

Public transit matters here: 19% of workers take it to work, against 16% in Essex County.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Newark?

A typical home costs more than the typical income allows

We start with a typical home in Newark, worth $373,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 79% of the typical household income in Newark, which is $52,060 a year. For that payment to be 28% of income, a household would need to earn about $146,180 a year.

The calculator's FHA and conventional loan limits are those of all of Essex County.

Your numbers

Local data
$

Starts at the typical home value in Newark. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $13,080 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,411

at 7.18% · 30 years

Loan amount
$366,931
Total interest
$527,927
Paid off in
November 2056

Includes $6,311 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,215 a month

  • Tight

    $1,215 to $1,562 a month

  • Hard

    more than $1,562 a month

    Your payment · 79%

Compared with the typical household income in Newark ($52,060 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,411
Principal & interest$2,486
Property tax$604
Home insurance$156
FHA mortgage insurance (MIP)$165

You need at least $13,080 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Newark and Essex County

Newark is in Essex County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Newark's own numbers

Typical home value
$373,700
Typical monthly rent
$1,392
Typical yearly household income
$52,060
Households that own their home
24%
Effective property tax rate
1.94%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Essex County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,233
Price change over 5 years (FHFA)
+58%
Homes in a high flood-risk zone
2.5%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Essex County.

Everything about Essex County

Buying

Buying a home in Newark

A typical home in Newark is worth $373,700: 29% below the county and 18% below New Jersey. With the typical household income in Newark ($52,060 a year), a typical home costs 7.2 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Newark 7.2 years
  • Essex 6.5 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Essex County

According to FHFA’s house price index, home prices in Essex County rose 87% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Essex County.

Period County New Jersey U.S.
Last year (2025) +5.8% +6.2% +2.9%
5 years (2020–2025) +58% +63% +47%
10 years (2015–2025) +87% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Newark next to Essex County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Newark $373,700
  • Essex $524,100
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Newark $1,392
  • Essex $1,531
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Newark $52,060
  • Essex $80,789
  • New Jersey $103,556
  • United States $80,734
See the full table
Newark next to Essex County and New Jersey
Measure Newark Essex County New Jersey U.S.
Typical home value $373,700 $524,100 $454,400 $332,700
Typical monthly rent $1,392 $1,531 $1,720 $1,413
Typical yearly household income $52,060 $80,789 $103,556 $80,734
Households that own their home 24% 45% 64% 65%
Typical yearly property tax $7,262 $10,001 $9,590 $3,119
Effective property tax rate 1.94% 1.91% 2.11% 0.94%
Renters with high rent for their income 57% 55% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Essex County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Newark

For a typical $373,700 home in Newark, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Newark's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,411a month

    Least cash to close
    Down payment
    $13,080
    Cash to close
    $24,291
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $165

  • Conventional, 5% down $3,342a month

    Down payment
    $18,685
    Cash to close
    $29,896
    Rate
    7.18%
    Mortgage insurance
    PMI · $178

  • Conventional, 20% down, no PMI $2,785a month

    Down payment
    $74,740
    Cash to close
    $85,951
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,131a month

    Down payment
    $56,055
    Cash to close
    $67,266
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Newark and for Essex County.

Property tax

Effective rate in Newark

1.94%of the home’s value each year

$7,262 a year for the typical owner in Newark.

  • Newark 1.94%
  • Essex 1.91%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Essex County

FEMA does not publish these numbers by city: they are for all of Essex County.

Homes in the high-risk zone
2.5%
3,710
Of those, with NFIP insurance
50%
County New Jersey U.S.
Homes in the high-risk zone 2.5% 6.7% 3.5%
Of those, with NFIP insurance 50% 63% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Newark

Typical rent in Newark is $1,392 a month: 9% below the county. In Newark, 57% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Essex County, by unit size. To pay the 2-bedroom one ($2,233 a month) without spending more than 30% of your income, you would need to earn $42.94 an hour working full time.

HUD fair market rent for all of Essex County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,637 $31.48 $65,480
1 bedroom $1,850 $35.58 $74,000
2 bedrooms $2,233 $42.94 $89,320
3 bedrooms $2,785 $53.56 $111,400
4 bedrooms $3,188 $61.31 $127,520

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Newark

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Newark has 9 ZIP codes with their own.

For 2 bedrooms it runs from $1,990 in 07102 to $2,020 in 07105.

None is above the fair market rent for Essex County ($2,233).

  • 07102 $1,990$2,490
  • 07103 $1,990$2,490
  • 07104 $1,990$2,490
  • 07105 $2,020$2,520
  • 07106 $1,990$2,490
  • 07107 $1,990$2,490
  • 07108 $1,990$2,490
  • 07112 $1,990$2,490
  • 07114 $1,990$2,490

A ZIP code counts for Newark when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Newark

HUD lists 212 buildings with rents for lower incomes in Newark. These are the largest.

  • Essex Plaza I 1060 Broad St, Newark 07102 451 homes, 450 low-income · For older adults (973) 643-8588
  • Grace West Manor Apts. 293 Irvine Turner Blvd, Newark 07108 429 low-income homes · For families
  • Hill Manor Apts 611 Mlk Jr Blvd, Newark 420 homes, 412 low-income · In service since 1994
  • Court Towers 1 Court St, Newark 07102 222 low-income homes · For older adults (973) 623-0766
  • Baxter-Crane-C 900 Franklin Ave, Newark 07107 375 low-income homes · Run by Newark Housing Authority · Average payment: $365 a month · Average wait: 14 months (973) 273-6677

See all 393 buildings in Essex County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Newark

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 7 HUD-approved agencies with an office in Essex County; 5 say they serve in Spanish.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Newark

No down payment, repair or rent-help program on our list is for Newark or Essex County. The ones below are statewide in New Jersey: they work in Newark the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Newark

The HUD-approved agencies closest to the center of Newark, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • NSC (naca Counseling Subsidiary) - Newark, NJ

    60 Park Pl Ste 800, Newark · 1 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (973) 679-2601

  • New Jersey Citizen Action

    625 Broad St, Newark · 1 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 5 more
    (973) 643-8800

  • Urban League of Essex County

    508 Central Ave, Newark · 2 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (973) 624-9535

Every agency in Essex County All counseling agencies in New Jersey

Help in Spanish near Newark

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Newark

HUD’s record names them for Newark or Essex County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Newark Housing Authority Public housing and Section 8 vouchers (973) 273-6677

6 other authorities have an office in Essex County: see the list Source: HUD

Cities

Other cities in Essex County

These cities are also in Essex County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Essex County Housing in New Jersey

Nearby cities

The cities closest to Newark, with the typical home value.

Neighboring counties

If Essex County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Newark.

All guides
A man and two girls read a book together on the sofa.

Questions

Housing questions about Newark

Short answers with the numbers for Newark and all of Essex County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Newark?

The typical home value in Newark is $373,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Essex County it is $524,100.

How much does it cost to rent in Newark?

Typical rent in Newark is $1,392 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Essex County is $2,233.

What is the FHA loan limit in Newark?

Newark uses the FHA limit for all of Essex County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Newark?

The typical homeowner in Newark pays $7,262 a year, according to the U.S. Census Bureau. That is 1.94% of the home’s value; in Essex County, the rate is 1.91%.

Where can I find free help to buy or rent in Newark?

There are 7 HUD-approved counseling agencies with an office in Essex County. 5 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).