What is the median home value in Essex County, NJ?

The median home value in Essex County, NJ is $494,400, according to the latest Census ACS 5-Year Estimates.

What is the cap rate in Essex County, NJ?

The cap rate proxy in Essex County, NJ is 5.6% (estimated from HUD Fair Market Rent and Census home values with a 35% expense ratio). This is moderate — deal-by-deal analysis recommended.

How much new construction is happening in Essex County, NJ?

Essex County has 854,130 residents and issued 4,028 building permits over the trailing twelve months, according to the Census Building Permits Survey.

New York-Newark-Jersey City, NY-NJ-PA · New Jersey

Essex County

854,130 residents4,028 permits TTM$76,712 median HHI31 ZIP codesUpdated April 28, 2026

Investor first look

Median home value

$494,400

ACS 5-Year

Cap rate proxy

5.6%

FMR × 0.65 ÷ Home Value

Rent-to-income

22.8%

HUD FMR ÷ ACS HHI

Net migration

+2.04%

IRS SOI

Permits (TTM)

4,028

Census BPS

Climate risk

97.7

FEMA NRI (0–100)

ZIP code breakdown31 ZIP codes

ZIP	Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
07102	—	—	—	7.4%	-7.5%
07114	—	—	—	4.9%	17.0%
07018	—	—	—	5.4%	9.6%
07104	—	—	—	4.9%	13.8%
07050	—	—	—	4.8%	18.6%

Ranked by composite score

Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
—	—	—	6.6%	7.2%
—	—	—	5.7%	15.2%
—	—	—	5.5%	9.2%
—	—	—	5.4%	-47.4%
—	—	—	5.2%	9.1%
—	—	—	5.2%	-27.8%
—	—	—	5.2%	10.2%
—	—	—	5.1%	10.5%
—	—	—	5.0%	7.4%
—	—	—	4.9%	-87.8%
—	—	—	4.8%	-3.4%
—	—	—	4.7%	3.2%
—	—	—	4.7%	14.0%
$639,271	$2,280	4.3%	4.5%	-7.7%
—	—	—	4.5%	-100.1%
$813,481	$2,670	3.9%	3.9%	-1.2%
—	—	—	3.8%	-28.4%
—	—	—	3.8%	-26.3%
—	—	—	3.7%	-39.5%
$1,328,009	$3,310	3.0%	2.9%	-0.9%
$733,002	$2,450	4.0%	2.3%	40.5%
—	—	—	2.2%	37.2%
—	—	—	2.1%	37.2%
—	—	—	1.6%	37.2%
—	—	—	1.2%	37.2%
—	—	—	0.8%	-124.4%

Demographics

Owner-occupied

44.5%

Census ACS

Vacancy rate

5.4%

Census ACS

Bachelor's degree +

37.9%

Census ACS

Rent burdened

51.9%

Census ACS (>30% income)

Median age

37.7

Census ACS

Data sources

U.S. Census Bureau — American Community Survey 5-Year Estimates

U.S. Census Bureau — Building Permits Survey

U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)

Internal Revenue Service — Statistics of Income Migration Data

FEMA — National Risk Index

Last updated: April 28, 2026

Essex County

See all 31 ZIPs ranked by yield and cap rate