Essex County
New Jersey · Pop. 863,728
Ranked #149 of 200 counties
32Crisis
Median Home Price
🏠$420K
3.5% YoY
Median Rent
🔑$1,700
Median Income
💰$65K
Rent Burden
📊34.0%
% of income to rent
Housing Shortage
🏗️8,000
estimated unit deficit
Building Permits (2024)
📋3,200
Price-to-Income Ratio
⚖️6.5x
Homeownership Rate
🏡42.0%
How Essex County Compares
| Metric | Essex County | New Jersey | National |
|---|---|---|---|
| Home Price | $420K | $461K | $410K |
| Rent | $1,700 | $1,667 | $1,500 |
| Income | $65K | $100K | $75K |
| Rent Burden | 34.0% | 36.0% | 30.0% |
| Homeownership | 42.0% | 64.0% | 65.0% |
Key Takeaways
- • Home prices are 2% above the national average.
- • Rent is 13% above the national average.
- • The county has an estimated housing shortage of 8,000 units.
- • 3,200 building permits were issued in 2024.
- • Year-over-year home prices changed by 3.5%.