In short
The median value of owner-occupied homes is $496,000 in New Jersey and $396,600 in the city of Newark, against $360,600 nationwide (Census ACS 2024). On the FHFA index, New Jersey prices up 4.6% and Newark-area prices up 5.5% from Q2 2025 to Q2 2026.
The latest one-year ACS estimates cover 2024. The Census Bureau lists the 2025 one-year estimates for release on October 29, 2026, so the figures below will change then.
What it costs: median value in 2024
| Area | Median value, 2024 | Margin of error (90%) |
|---|---|---|
| United States | $360,600 | ±$618 |
| New Jersey | $496,000 | ±$2,982 |
| New York–Newark–Jersey City metro area | $648,800 | ±$2,533 |
| Essex County | $578,200 | ±$17,656 |
| City of Newark | $396,600 | ±$27,643 |
Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.
Three points stand out:
- The New Jersey median is $135,400 above the national median.
- The city of Newark sits $99,400 below the New Jersey median and $181,600 below Essex County. It is also $252,200 below the metro-area figure, which includes much of the New York region.
- The margin of error for Newark (±$27,643) is wide because the sample is small. The true city median is very likely between about $369,000 and $424,200.
How prices have moved: the FHFA index
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| United States | +2.1% | +33.4% |
| New Jersey | +4.6% | +50.5% |
| Newark, NJ metro division | +5.5% | +46.0% |
Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.
New Jersey prices rose faster than the national index over both periods: a little more than twice as fast over the past year, and about half again as much over five years.
A worked example
Take a Newark-area home worth $340,000 in the second quarter of 2021. Tracking the Newark division index exactly, it would have been worth about $496,000 in the second quarter of 2026 (+46.0%). Over the last year alone, the same home would have gained about 5.5%. A single home can differ widely from the index.
How to use these figures when buying
Related: New Jersey closing costs guide, buying a home in Newark and New Jersey first-time buyer programs.
Method and dataset
ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), New Jersey (0400000US34), New York–Newark–Jersey City, NY-NJ Metro Area (310M700US35620), Essex County (0500000US34013), Newark city (1600000US3451000). Read through the data.census.gov API on October 13, 2026.
FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (New Jersey), metro series (Newark, NJ metro division, code 35084) and U.S. series. Index values used: New Jersey 423.29 (Q2 2025), 294.14 (Q2 2021) and 442.71 (Q2 2026); Newark division 427.66, 309.10 and 451.14; United States 426.58, 326.58 and 435.69.
Frequently asked questions
What is the median home value in New Jersey?
New Jersey’s 2024 ACS median home value is $496,000 (±$2,982), against $360,600 for the nation: owners’ own estimates, not sale prices.
What is the median home value in Newark?
For the city of Newark, the 2024 ACS median value is $396,600 (±$27,643). Essex County is at $578,200 and the New York–Newark–Jersey City metro area at $648,800.
Are New Jersey home prices going up or down?
FHFA’s purchase-only index shows New Jersey prices rose 4.6% over the year to Q2 2026, and the Newark division rose 5.5%. Over five years, they rose 50.5% and 46.0%.
How New Jersey compares with the other States
At $496,000, New Jersey ranks 8th of the 50 States for median home value, in the top ten and 38% above the national $360,600.
The States closest in median value are Oregon ($497,500) and New Hampshire ($458,800). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; New Jersey is $156,500 above the middle of that ranking (Wyoming).
On the FHFA index, New Jersey prices rose 4.6% over the year to the second quarter of 2026, which places the State 10th of 50, 2.5 points ahead of the national +2.1%. Over five years the gain is +50.5% (2nd of 50; nation +33.4%).
Level and direction point the same way: New Jersey is among the dearest States and among those where prices rose fastest this year.
Over five years, New Jersey's +50.5% annualises to +8.5% a year (nation +5.9%). The latest year (+4.6%) is 3.9 points under that average, a slower pace than the five-year average.
Newark, the main city, has a median of $396,600, 23rd of the 49 main cities Payotte covers. That is 20% below the New Jersey median, a discount that ranks 43rd of 49.
The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. New Jersey (+4.6%) is 3.7 points below the top and 5.8 above the bottom; Connecticut (+4.7%) and Rhode Island (+4.7%) are the nearest to it.
For scale, 20% of the New Jersey median is $99,200, against $72,120 at the national median.
Compare with the other states: Median home price by state.
More New Jersey guides
- Closing costs in New Jersey: what buyers and sellers pay
- New Jersey transfer fee and mansion tax: rates and who pays
- New Jersey property tax: Newark rate, assessments and appeals
- Seller disclosure requirements in New Jersey
- Do you need a real estate attorney in New Jersey?
- Foreclosure process in New Jersey
- First-time home buyer programs in New Jersey: NJHMFA, Newark
- How to verify a real estate license in New Jersey
- Tenant rights in New Jersey: eviction, deposits, rent increases
Sources
- Census Bureau, ACS 1-Year 2024, table B25077 (consulted October 13, 2026)
- Census Bureau, 2025 ACS release schedule (consulted October 13, 2026)
- FHFA news release, August 25, 2026 (consulted October 13, 2026)
- FHFA HPI datasets (quarterly, purchase-only) (consulted October 13, 2026)