Real Estate Investing in Bloomfield, New Jersey (07003)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07003 (Bloomfield, NJ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Bloomfield, NJ (07003)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07003 Bloomfield
Not every below-median market is a bargain. Bloomfield's 07003 ZIP sits at signals that favor experienced operators who can absorb the risk $614K pricing implies.
The 07003 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
In the broader NJ picture, 07003 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 07003 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Bloomfield:
Property Strategy for 07003
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $249,676 | $2,060 | 5.9% | +8.8% | $249,676 |
| 2BR | $386,301 | $2,490 | 4.6% | +8.2% | $193,150 |
| 3BR | $619,681 | $3,120 | 3.6% | +8.5% | $206,560 |
| 4BR | $673,693 | $3,540 | 3.8% | +8.7% | $168,423 |
| 5BR | $728,018 | — | — | +9.5% | $145,604 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07003 Compare?
| Metric | 07003 | Bloomfield | New Jersey |
|---|---|---|---|
| Home Value | $613,939 | $613,939 | $559,826 |
| 5-Year CAGR | 6.1% | 6.1% | 8.4% |
| Avg Rent | $2,396 | $2,396 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07003 (Bloomfield, NJ). Anonymous, moderated, never written by AI.
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Property managers serving Essex County
Manage rentals here? List your business →Associa Community Management Corporation of New Jersey is an HOA property management company serving Northern and Central New Jersey. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $613,939 |
| Monthly Rent | $2,396 |
| Price-to-Rent | 21.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +5.2% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | -3.4% ▼ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +4.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07003
Population: 52,921
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07003
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,024 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How viable is house hacking in Bloomfield, NJ?
Bloomfield, NJ is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $614K price point reasonable to enter.
Is Bloomfield in NJ worth investing in?
Bloomfield, NJ rates 3.0/5 for investability. With median values at $614K and rents near $2,396/mo, the market offers reasonable fundamentals for rental investors.
How deep is the rental pool in Bloomfield, NJ?
Working renters make up the core of the Bloomfield, NJ tenant base. The pool is reasonable for investors targeting long-term holds.
What is it like being a landlord in Bloomfield, NJ?
Landlord-friendliness in Bloomfield, NJ is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What is the typical rental rate in Bloomfield, NJ?
Expect rents around $2,396/mo per month in Bloomfield, NJ. With home values at $614K, the yield math works out to reasonable levels for rental investors.
You know 07003 now. You don’t know where it ranks.
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How 07003 ranks in New York-Newark-Jersey City, NY-NJ-PA
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