Essex, NJ · ZIP 07040 · Census Tract 34013019500 · 2027–2030 outlook
Current modeled value
$885K
Downside (P10)
$766K
-13% by 2030
Base Case (P50)
$906K
+2% by 2030
Upside (P90)
$1.32M
+49% by 2030
Base case: +2% by 2030, with a forecast range from -13% to +49%. Uncertainty is typical relative to similar Essex markets.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $542K | $557K | $574K | $596K | $615K | $654K | $666K | $814K | $851K | $876K | $890K | $885K | $911K | $892K | $906K | $915K |
| YoY Change | +2.6% | +3.1% | +3.9% | +3.1% | +6.3% | +1.9% | +22.2% | +4.6% | +2.9% | +1.6% | -0.6% | +3.0% | -2.2% | +1.7% | +0.9% | |
| Downside (P10) | $737K | $765K | $778K | $766K | $799K | |||||||||||
| Upside (P90) | $1.0M | $1.1M | $1.2M | $1.3M | $1.0M |
The forecast range is moderate for this market over this horizon. Near-term outcomes are relatively tight, but uncertainty widens meaningfully by 2030.
1-Year Spread
$800K to $1.01M
23.2% of median
5-Year Spread
$766K to $1.32M
60.8% of median
Use these nearby areas to compare price level, upside potential, and forecast risk.
Areas with the most similar current median values
| Area | Current Value | 5yr Expected | 5yr Change |
|---|---|---|---|
| South Orange Village | $882K | $971K | +10.1% |
| Livingston | $870K | $992K | +14.0% |
| Livingston | $868K | $974K | +12.2% |
| North Caldwell | $908K | $1.02M | +12.2% |
| Glen Ridge | $838K | $976K | +16.4% |
Nearby areas where the model expects higher 5-year price growth
| Area | Current Value | 5yr Expected | 5yr Change |
|---|---|---|---|
| Maplewood | $563K | $671K | +19.2% |
| East Orange | $501K | $597K | +19.1% |
| City of Orange | $317K | $377K | +18.9% |
| City of Orange | $243K | $289K | +18.7% |
| Newark | $371K | $440K | +18.5% |
Nearby areas with narrower forecast ranges (less uncertainty)
| Area | Current Value | 5yr Expected | Spread |
|---|---|---|---|
| Irvington | $147K | $166K | $95K |
| Newark | $164K | $184K | $98K |
| Newark | $248K | $271K | $104K |
| Newark | $327K | $340K | $118K |
| East Orange | $193K | $205K | $126K |
Forecasts are probabilistic model outputs, not guarantees. The model uses historical data and economic indicators; it does not observe property-specific conditions. This is not financial, investment, or real estate advice. Learn more about our methodology.
Model
Homecastr World Model (Schrödinger Bridge v12)
Forecast Horizon
2027 to 2030
Schema Version
forecast_queue
Citation
Hardesty Lewis, D. (2026). Homecastr Home Price Forecast. Retrieved from homecastr.com.
Data Sources