07004 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07004 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
10 sales in 2026 (year to date)
Median Sale Price
$1,119,400
Days to Sell
80
Homes Sold
10
Inventory
8
Sale-to-List
103.9%
New Listings
23
Price/SqFt
$337
Pending Sales
18
Conforming Loan Available
The median home in 07004 at $1,119,400 falls within the 2026 conforming loan limit of $1,209,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Market Insights
Market Temperature
With homes sitting for 80 days on average, 07004 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
Homes in 07004 are selling 3.9% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
The median home in 07004 at $1,119,400 falls within the 2026 conforming loan limit of $1,209,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Loan limits in 07004 are set at the county level.
2026 Loan Limits — Essex County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $1,209,750 | $1,249,125 |
| 2 Units | $1,548,975 | $1,599,375 |
| 3 Units | $1,872,225 | $1,933,200 |
| 4 Units | $2,326,875 | $2,402,625 |
Affordability Snapshot — Zip 07004
To purchase the median home at $1,119,400 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $8,726.
Monthly Payment
$8,726
Income Required
$373,992
Principal & Interest
$6,897/mo
Down Payment (5%)
$55,970
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 07004.
Estimated Monthly Payment
$7,078
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 07004. Tell us what you're looking for.