Real Estate Investing in Wayne, New Jersey (07470)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07470 (Wayne, 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.
- High price-to-rent: Price-to-rent ratio 25.1 — hard to cash-flow at these prices.
What’s happening in Wayne, NJ (07470)?
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Market Analysis: 07470 Wayne
Investors eyeing 07470 need to respect the fundamentals at play. Home values of $763K come alongside slower price movement and elevated management overhead.
Stepping back, the numbers look inviting — $763K purchase price, 0.0% nominal cap — the work to hit that pro forma in 07470 is substantial and deserves full respect.
The gap between 07470 and stronger Wayne ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A robust renter share of 22% in 07470 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 07470 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 Wayne:
Property Strategy for 07470
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $316,111 | $2,320 | 5.3% | +8.0% | $316,111 |
| 2BR | $489,194 | $2,660 | 3.9% | +9.0% | $244,597 |
| 3BR | $677,281 | $3,240 | 3.4% | +9.1% | $225,760 |
| 4BR | $827,749 | $4,140 | 3.6% | +9.3% | $206,937 |
| 5BR | $1,005,664 | — | — | +9.9% | $201,133 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07470 Compare?
| Metric | 07470 | Wayne | New Jersey |
|---|---|---|---|
| Home Value | $762,952 | $762,952 | $559,826 |
| 5-Year CAGR | 6.7% | 6.7% | 8.4% |
| Avg Rent | $2,536 | $2,536 | - |
| Cap Rate | 2.6% | 2.6% | - |
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 07470 (Wayne, NJ). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $762,952 |
| Monthly Rent | $2,536 |
| Price-to-Rent | 25.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). 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 07470
Population: 54,131
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 07470
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 5,291 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is vacancy a concern in Wayne, NJ?
Rental vacancy in Wayne, NJ is elevated. Investors should budget normal turnover but not chronic empty units.
How expensive is real estate in Wayne, NJ?
The median home value in Wayne, NJ is roughly $763K. That puts it reasonable relative to the NJ statewide average.
What do landlords charge for rent in Wayne, NJ?
Expect rents around $2,536/mo per month in Wayne, NJ. With home values at $763K, the yield math works out to reasonable levels for rental investors.
Is Wayne, NJ suited for a house hack?
For house hackers, Wayne, NJ is a challenging. The $2,536/mo rent on a unit helps defray the mortgage on a $763K property.
Which real estate strategy fits Wayne, NJ?
The best-fit strategy in Wayne, NJ is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 07470 now. You don’t know where it ranks.
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How 07470 ranks in New York-Newark-Jersey City, NY-NJ-PA
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