Home Values in Newark, New Jersey — 2026 Market Report
Updated March 2026 | Seller's Market | +4.2% YoY
The median home value in Newark, New Jersey is $365,000 as of March 2026, which is near the national median of $400,000. Home values in Newark have increased by 4.2% over the past year and 22.8% over the last five years. With a population of 311,549 and a median household income of $37,476, the price-to-income ratio stands at 9.7x, making Newark affordable for the average household.
Newark Housing Market Conditions
| Metric | Newark | National Avg |
|---|---|---|
| Median Home Value | $365,000 | $400,000 |
| YoY Appreciation | +4.2% | +3.8% |
| 5-Year Appreciation | +22.8% | +22.4% |
| Price per Sq Ft | $173 | $222 |
| Days on Market | 53 days | 45 days |
| Months of Supply | 2.8 | 3.5 |
| List-to-Sale Ratio | 100.3% | 98.5% |
| Monthly Homes Sold | 288 | — |
| Foreclosure Rate | 0.34% | 0.3% |
Home Value Trends in Newark
A homeowner who purchased at the median price of $297,231 five years ago in Newark would have gained approximately $67,769 in equity, representing a 22.8% return on investment. Over the past year alone, the typical homeowner gained $14,712 in home equity.
Affordability in Newark, NJ
With a median household income of $37,476 and a median home price of $365,000, the price-to-income ratio in Newark is 9.7x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,639 compared to estimated monthly ownership costs of $2,406 gives a rent-vs-buy ratio of 0.91. In Newark, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Newark
The effective property tax rate in New Jersey is 2.21%. On a home valued at $365,000, the estimated annual property tax bill is $8,067, or approximately $672/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Newark is 118.5 (100 = national average), indicating living costs are above the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Newark, NJ?
The median home value in Newark, New Jersey is $365,000 as of March 2026. Home values have changed +4.2% over the past year, with a 5-year appreciation of 22.8%.
Is Newark a buyer's or seller's market?
Newark is currently a seller's market with 2.8 months of housing supply. Homes spend an average of 53 days on market, and the list-to-sale price ratio is 100.3%. Low inventory gives sellers an advantage.
Are home values going up in Newark?
Yes, home values in Newark have increased by 4.2% over the past year. The 5-year appreciation rate is 22.8%, meaning a home worth $297,231 five years ago is now worth $365,000.
Is it better to rent or buy in Newark?
The average monthly rent in Newark is $2,639, while estimated monthly homeownership costs are approximately $2,406. The price-to-rent ratio is 11.5. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Newark, New Jersey is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.