Real Estate Investing in Elizabeth, New Jersey (07202)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07202 (Elizabeth, 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 Elizabeth, NJ (07202)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07202 Elizabeth
This part of Union County is not an easy win. The 07202 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
From a cash-flow lens, the numbers look inviting — $514K purchase price, 0.0% nominal cap — the work to hit that pro forma in 07202 is substantial and deserves full respect.
Nearby ZIPs in Elizabeth have seen price recovery that 07202 has not matched. Union County data supports the view that the spread is structural rather than temporary.
From a cash-flow lens, 44,638 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 07202 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Elizabeth:
Property Strategy for 07202
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $371,613 | $2,060 | 4.0% | +7.2% | $185,806 |
| 3BR | $508,783 | $2,580 | 3.7% | +10.4% | $169,594 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07202 Compare?
| Metric | 07202 | Elizabeth | New Jersey |
|---|---|---|---|
| Home Value | $513,974 | $530,413 | $559,826 |
| 5-Year CAGR | 8.1% | 7.6% | 8.4% |
| Avg Rent | $2,308 | $2,238 | - |
| Cap Rate | 3.5% | 3.3% | - |
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 07202 (Elizabeth, NJ). Anonymous, moderated, never written by AI.
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Property managers serving Union County
Manage rentals here? List your business →Corner Property Management is a property management company serving New Jersey and Pennsylvania. 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 | $513,974 |
| Monthly Rent | $2,308 |
| Price-to-Rent | 18.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 11.6% |
📈 Home Appreciation
| 1-Year | +2.4% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +10.3% ▲ |
🏠 Rent Trends
| 1-Year | 0.0% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). 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 07202
Population: 44,638
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 07202
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 2,281 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Elizabeth, NJ a smart market for rental property?
Elizabeth, NJ scores 3.0/5 for investability. Home values sit at $514K and rents near $2,308/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What are vacancy rates like in Elizabeth, NJ?
Elizabeth, NJ vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How landlord-friendly is Elizabeth, NJ?
Elizabeth, NJ operates under NJ law, which is tenant-protective overall for landlords. Expect consistent treatment in typical lease and eviction cases.
What kind of tenants rent in Elizabeth, NJ?
Working renters make up the core of the Elizabeth, NJ tenant base. The pool is reasonable for investors targeting long-term holds.
What do landlords charge for rent in Elizabeth, NJ?
Rents in Elizabeth, NJ run near $2,308/mo. Compared with median home prices of $514K that produces solid gross yields for typical rentals.
You know 07202 now. You don’t know where it ranks.
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How 07202 ranks in New York-Newark-Jersey City, NY-NJ-PA
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