Newark
New Jersey · Ranked #360 of 373 metros
28Crisis
💡
Housing in Newark costs 6.2× the median income, above the national average of 4.5×. The median home price is $510K and median rent is $1,750/month. Newark ranks #360 of 373 metros for affordability.
Median Home Price
🏠$510K
Need $146K income
Median Rent
🔑$1,750
Need $70K income
Housing Shortage
📉55,000
units needed
Building Permits
🔨10,000
annual
Median Income
💰$82K
Pop: 2,060,048
Rent Burden
⚠️37.0%
of renters paying >30%
Price Change (YoY)
📈+5.5%
Homeownership
🏡58.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Newark | National |
|---|---|---|
| Price-to-Income Ratio | 6.2x | 6.1x |
| Rent Burden | 37.0% | 31.5% |
| Homeownership Rate | 58.0% | 65.5% |
| YoY Price Change | +5.5% | +3.5% |
| YoY Rent Change | +4.5% | +2.8% |
| Mortgage Denial Rate | 15.5% | 13.5% |
| Eviction Rate | 4.5% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +67.5%Since 2000: +195.1%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,612/mo
1 Bedroom$1,822/mo
2 Bedroom$2,205/mo
3 Bedroom$2,761/mo
4 Bedroom$3,137/mo
Redfin Market Activity
Median Sale Price
$590K
Active Inventory
3,028
Days on Market
45
Sold Above List
53.8%
Price Drops
9.2%