Essex, NJ · ZIP 07042 · Census Tract 34013016600 · 2027–2030 outlook
Current modeled value
$660K
Downside (P10)
$508K
-23% by 2030
Base Case (P50)
$711K
+8% by 2030
Upside (P90)
$912K
+38% by 2030
Base case: +8% by 2030, with a forecast range from -23% to +38%. Uncertainty is narrow relative to similar Essex markets.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $410K | $447K | $462K | $485K | $498K | $444K | $410K | $590K | $634K | $642K | $644K | $660K | $668K | $680K | $711K |
| YoY Change | +9.0% | +3.4% | +5.0% | +2.7% | -10.8% | -7.7% | +43.8% | +7.6% | +1.2% | +0.4% | +2.4% | +1.2% | +1.8% | +4.6% | |
| Downside (P10) | $590K | $573K | $537K | $508K | |||||||||||
| Upside (P90) | $759K | $810K | $829K | $912K |
The forecast range is narrow for this market. Near-term outcomes are relatively tight, though uncertainty widens modestly by 2030.
1-Year Spread
$613K to $690K
11.9% of median
5-Year Spread
$508K to $912K
56.8% 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 |
|---|---|---|---|
| West Caldwell | $662K | $753K | +13.8% |
| South Orange Village | $657K | $699K | +6.5% |
| Roseland | $663K | $744K | +12.1% |
| Cedar Grove | $656K | $709K | +8.0% |
| West Caldwell | $667K | $720K | +7.9% |
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