07028 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07028 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
20 sales in 2026 (year to date)
Median Sale Price
$1,264,535
Days to Sell
17
Homes Sold
20
Inventory
11
Sale-to-List
126.7%
New Listings
34
Price/SqFt
$625
Pending Sales
27
Jumbo Loan Likely Needed
The median home in 07028 at $1,264,535 exceeds the 2026 conforming loan limit of $1,209,750 by $54,785. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Market Insights
Market Temperature
Homes in 07028 are moving quickly at 17 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes in 07028 are selling 26.7% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
The median home in 07028 at $1,264,535 exceeds the 2026 conforming loan limit of $1,209,750 by $54,785. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Loan limits in 07028 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 07028
To purchase the median home at $1,264,535 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $9,838.
Monthly Payment
$9,838
Income Required
$421,648
Principal & Interest
$7,792/mo
Down Payment (5%)
$63,227
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
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Estimate your monthly payment for a home in 07028.
Estimated Monthly Payment
$7,976
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