Real Estate Investing in Newark, New Jersey (07104)
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Should you buy in 07104 (Newark, NJ)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
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 Newark, NJ (07104)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07104 Newark
This part of Essex County is not an easy win. The 07104 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 07104 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Newark have seen price recovery that 07104 has not matched. Essex County data supports the view that the spread is structural rather than temporary.
A robust renter share of 73% in 07104 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 07104 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Newark:
Property Strategy for 07104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $352,396 | $1,930 | 3.9% | +5.3% | $176,198 |
| 3BR | $452,057 | $2,430 | 3.9% | +6.6% | $150,686 |
| 4BR | $526,643 | $2,760 | 3.8% | +7.4% | $131,661 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07104 Compare?
| Metric | 07104 | Newark | New Jersey |
|---|---|---|---|
| Home Value | $497,351 | $148,249 | $559,826 |
| 5-Year CAGR | 5.1% | 4.2% | 8.4% |
| Avg Rent | $1,944 | $2,128 | - |
| Cap Rate | 3.1% | 3.5% | - |
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 07104 (Newark, 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 | $497,351 |
| Monthly Rent | $1,944 |
| Price-to-Rent | 21.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | -2.6% ▼ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). 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 07104
Population: 54,277
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 07104
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 3,459 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong is tenant demand in Newark, NJ?
Newark, NJ draws a measured base of working renters. Demand at the $1,944/mo rent level is reasonable for standard single-family and small multi rentals.
Does Newark, NJ favor landlords or tenants?
Newark, NJ operates under NJ law, which is tenant-protective overall for landlords. Expect consistent treatment in typical lease and eviction cases.
Is housing expensive in Newark, NJ?
Newark, NJ home values average about $497K. That price point suits investors targeting rentals with $1,944/mo in monthly income.
Does house hacking make sense in Newark, NJ?
House hacking in Newark, NJ is reasonable to execute. Prices around $497K and rents of $1,944/mo solid owner-occupant economics.
How tight is the rental market in Newark, NJ?
Newark, NJ carries elevated vacancy risk. Expect measured absorption at market rents of $1,944/mo.
You know 07104 now. You don’t know where it ranks.
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How 07104 ranks in New York-Newark-Jersey City, NY-NJ-PA
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