Real Estate Investing in Summit, New Jersey (07901)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07901 (Summit, 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 39.1 — hard to cash-flow at these prices.
What’s happening in Summit, NJ (07901)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07901 Summit
ZIP 07901 in Summit, NJ carries a impressive set of headwinds. Home values near $1.4M and rents of $3,025/mo sit inside a market where underwriting has to be tight.
The investment case in 07901 is impressive only for operators who understand what they are buying. A $1.4M median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 07901 sits on the difficult end of the NJ spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 07901 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 07901 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 Summit:
Property Strategy for 07901
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $626,286 | $3,000 | 3.4% | +3.9% | $313,143 |
| 3BR | $980,119 | $3,760 | 2.8% | +7.9% | $326,706 |
| 4BR | $1,519,334 | $4,270 | 2.0% | +9.3% | $379,833 |
| 5BR | $2,471,843 | — | — | +10.1% | $494,369 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07901 Compare?
| Metric | 07901 | Summit | New Jersey |
|---|---|---|---|
| Home Value | $1,421,026 | $1,421,026 | $559,826 |
| 5-Year CAGR | 7.7% | 7.7% | 8.4% |
| Avg Rent | $3,025 | $3,025 | - |
| Cap Rate | 1.7% | 1.7% | - |
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 07901 (Summit, NJ). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 07901 (Summit, NJ)?
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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 | $1,421,026 |
| Monthly Rent | $3,025 |
| Price-to-Rent | 39.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +14.0% ▲ |
| 3-Year CAGR | +8.7% ▲ |
| 5-Year CAGR | +7.7% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 Rent Trends
| 1-Year | -4.9% ▼ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +4.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.7%). 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 07901
Population: 24,502
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 07901
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Deerfield Elementary School
Lafayette Avenue School
New Providence High School
Salt Brook School
Southern Boulevard School
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 1,034 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How landlord-friendly is Summit, NJ?
The landlord environment in Summit, NJ is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
Does house hacking work in Summit, NJ?
House hacking in Summit, NJ is reasonable to execute. Prices around $1.4M and rents of $3,025/mo solid owner-occupant economics.
How do home values compare in Summit, NJ?
In Summit, NJ the median home value sits at $1.4M. Against the broader NJ market, that reads as reasonable for most investors.
What is the investability score for Summit, NJ?
Yes - Summit, NJ a 3.0/5 investability score. With $1.4M home prices against $3,025/mo monthly rent, the market delivers a reasonable entry point for new investors.
Which investment style suits Summit, NJ?
A careful cash-flow rentals with hands-on management strategy Summit, NJ best. The market produces measured results for that approach at the $1.4M price point.
You know 07901 now. You don’t know where it ranks.
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How 07901 ranks in New York-Newark-Jersey City, NY-NJ-PA
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