Real Estate Investing in Elizabeth, New Jersey (07208)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07208 (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 (07208)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07208 Elizabeth
The 07208 ZIP covers a section of Elizabeth that demands careful diligence. Prices near $591K look accessible, but the work to make a deal cash flow is real.
Rent of $2,182/mo on a $591K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 07208 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Elizabeth have seen price recovery that 07208 has not matched. Union County data supports the view that the spread is structural rather than temporary.
A resilient renter share of 73% in 07208 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 07208 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Elizabeth:
Property Strategy for 07208
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $550,884 | $2,570 | 3.4% | +9.6% | $183,628 |
| 4BR | $606,586 | $2,920 | 3.5% | +9.1% | $151,646 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07208 Compare?
| Metric | 07208 | Elizabeth | New Jersey |
|---|---|---|---|
| Home Value | $591,099 | $530,413 | $559,826 |
| 5-Year CAGR | 7.9% | 7.6% | 8.4% |
| Avg Rent | $2,182 | $2,238 | - |
| Cap Rate | 2.9% | 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 07208 (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 | $591,099 |
| Monthly Rent | $2,182 |
| Price-to-Rent | 22.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 10.8% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +7.9% ▲ |
| 10-Year CAGR | +9.1% ▲ |
🏠 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 (2.9%). 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 07208
Population: 32,404
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 07208
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Abraham Lincoln School No. 14
Battle Hill Elementary
Benjamin Franklin School No. 13
Connecticut Farms Elementary
Dr. Orlando Edreira Academy School No. 26
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 2,002 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How tight is the rental market in Elizabeth, NJ?
Rental vacancy in Elizabeth, NJ is elevated. Investors should budget normal turnover but not chronic empty units.
Is Elizabeth, NJ landlord-friendly?
For rental operators, Elizabeth, NJ rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Are homes affordable in Elizabeth, NJ?
Median home price in Elizabeth, NJ is near $591K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
Can I live-in-and-rent in Elizabeth, NJ?
The a challenging house-hack environment in Elizabeth, NJ reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What strategy should investors use in Elizabeth, NJ?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Elizabeth, NJ. The numbers - $591K homes against $2,182/mo rents - support that play.
You know 07208 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 07208 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 07208 ranks in New York-Newark-Jersey City, NY-NJ-PA
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