Essex, NJ · ZIP 07040 · Census Tract 34013019900 · 2027–2030 outlook
Current modeled value
$1.09M
Downside (P10)
$914K
-16% by 2030
Base Case (P50)
$1.19M
+9% by 2030
Upside (P90)
$1.62M
+48% by 2030
Base case: +9% by 2030, with a forecast range from -16% to +48%. Uncertainty is narrow relative to similar Essex markets.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $691K | $698K | $724K | $752K | $771K | $739K | $780K | $905K | $1.0M | $1.1M | $1.1M | $1.1M | $1.2M | $1.2M | $1.1M |
| YoY Change | +1.1% | +3.7% | +3.8% | +2.6% | -4.2% | +5.6% | +16.0% | +12.2% | +5.2% | +2.3% | +3.3% | +3.6% | +2.1% | -6.5% | |
| Downside (P10) | $940K | $920K | $914K | $980K | |||||||||||
| Upside (P90) | $1.4M | $1.4M | $1.6M | $1.3M |
The forecast range is narrow for this market. Near-term outcomes are relatively tight and remain tight through the full horizon.
1-Year Spread
$940K to $1.38M
39.1% of median
5-Year Spread
$980K to $1.26M
25.0% of median
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