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Newark city, NJ

ZIP 07108 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Low Income AreaLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07108

Median Home Value
$326,900
Median Rent
$945
Affordability Snapshot
$90,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,100/mo PITI).

33%
Rent-to-Income Ratio

Above the 30% affordability threshold — housing cost-burdened area.

9.6x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

28.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 07108 in Newark city, NJ, a household would need roughly $90,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,100. That is about 165% above the local median household income ($33,960), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 11% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
17.3%-74% vs US avg
x
Vacancy Rate
11.3%+9% vs US avg
x
Broadband Access
79.0%-9% vs US avg
x
4+ Bedrooms
2.9%-80% vs US avg
x
Built Pre-1939
7.4%-42% vs US avg
x
Built Post-2014
0.2%-97% vs US avg
x
Rent Burden >30%
33.1%-33% vs US avg
x
Mortgage-Free
27.7%-27% vs US avg
x
$326,900
Home Value
$945
Rent
1973
Year Built
2016
Moved In

Residents have lived here since ~2016 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached10.3%
  • 1-unit attached28.0%
  • 2-9 units35.5%
  • 10+ units25.8%
  • Mobile home & other0.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$326,900
Median rent$945
Owner-occupied17.3%
Vacant11.3%
Price-to-income9.6x
Est. income to buy$90,000