07424 — Passaic County, New Jersey Market Snapshot
Housing market data for zip code 07424 in Passaic County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
69 sales in 2026 (year to date)
Median Sale Price
$597,500
Days to Sell
30
Homes Sold
69
Inventory
55
Sale-to-List
102.8%
New Listings
101
Price/SqFt
$382
Pending Sales
93
Conforming Loan Available
Most homebuyers in 07424 can comfortably use conventional financing. The median home price of $597,500 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
07424's market is balanced with homes taking an average of 30 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes in 07424 are selling 2.8% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07424 can comfortably use conventional financing. The median home price of $597,500 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 07424 are set at the county level.
2026 Loan Limits — Passaic 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 07424
To purchase the median home at $597,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $4,728.
Monthly Payment
$4,728
Income Required
$202,622
Principal & Interest
$3,682/mo
Down Payment (5%)
$29,875
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 07424.
Estimated Monthly Payment
$3,848
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