Real Estate Investing in Verona, New Jersey (07044)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07044 (Verona, NJ)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
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 Verona, NJ (07044)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07044 Verona
The 07044 ZIP covers a section of Verona that demands careful diligence. Prices near $781K look accessible, but the work to make a deal cash flow is real.
The 07044 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 07044 among NJ's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 07044 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 07044 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Verona:
Property Strategy for 07044
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $314,432 | $2,330 | 5.3% | +6.3% | $314,432 |
| 2BR | $560,835 | $2,820 | 3.6% | +8.6% | $280,417 |
| 3BR | $763,667 | $3,530 | 3.3% | +8.3% | $254,556 |
| 4BR | $889,557 | $4,010 | 3.2% | +9.1% | $222,389 |
| 5BR | $1,161,577 | — | — | +10.2% | $232,315 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07044 Compare?
| Metric | 07044 | Verona | New Jersey |
|---|---|---|---|
| Home Value | $780,536 | $780,536 | $559,826 |
| 5-Year CAGR | 7.4% | 7.4% | 8.4% |
| Avg Rent | $3,213 | $3,213 | - |
| Cap Rate | 3.2% | 3.2% | - |
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 07044 (Verona, 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 | $780,536 |
| Monthly Rent | $3,213 |
| Price-to-Rent | 20.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.2%). 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 07044
Population: 14,441
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 07044
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Bradford Elementary School
Buzz Aldrin Middle School
Cedar Grove High School
Charles H. Bullock School
Essex County West Caldwell Tech
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
Is real estate in Verona, NJ a good investment right now?
Verona, NJ comes in at an investability rating of 3.0/5, with median home values near $781K and average rents around $3,213/mo. That combination puts it in the robust tier for investor interest.
Where do rents currently stand in Verona, NJ?
Verona, NJ rentals go for roughly $3,213/mo a month. That puts gross yield in solid territory relative to $781K acquisition costs.
Does house hacking make sense in Verona, NJ?
The house hack math a challenging in Verona, NJ. Owner-occupant buyers benefit from the $3,213/mo rents and $781K home values.
Is vacancy a concern in Verona, NJ?
Verona, NJ sees elevated vacancy, which is reasonable relative to the broader NJ rental market.
What real estate strategy is ideal for Verona, NJ?
Investors usually favor careful cash-flow rentals with hands-on management in Verona, NJ. With home values at $781K and rents near $3,213/mo, other strategies can work but produce reliable rather than outsized returns.
You know 07044 now. You don’t know where it ranks.
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How 07044 ranks in New York-Newark-Jersey City, NY-NJ-PA
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