07063 — Union County, New Jersey Market Snapshot
Housing market data for zip code 07063 in Union County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
27 sales in 2026 (year to date)
Median Sale Price
$500,000
Days to Sell
33
Homes Sold
27
Inventory
17
Sale-to-List
104.7%
New Listings
21
Price/SqFt
$378
Pending Sales
28
Conforming Loan Available
Most homebuyers in 07063 can comfortably use conventional financing. The median home price of $500,000 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
07063's market is balanced with homes taking an average of 33 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
Homes in 07063 are selling 4.7% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07063 can comfortably use conventional financing. The median home price of $500,000 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 07063 are set at the county level.
2026 Loan Limits — Union 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 07063
To purchase the median home at $500,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,981.
Monthly Payment
$3,981
Income Required
$170,607
Principal & Interest
$3,081/mo
Down Payment (5%)
$25,000
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 07063.
Estimated Monthly Payment
$3,244
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