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Essex, NJ · ZIP 07112 · Census Tract 34013004600 · 2027–2030 outlook · Forecasts as of March 2026
Current modeled value
$300K
Downside (P10)
$235K
-22% by 2030
Base Case (P50)
$316K
+5% by 2030
Upside (P90)
$438K
+46% by 2030
Base case: +5% by 2030, with a forecast range from -22% to +46%. The model forecasts this with 65% confidence.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $242K | $227K | $217K | $222K | $219K | $187K | $260K | $268K | $278K | $293K | $300K | $305K | $304K | $316K |
| YoY Change | -6.0% | -4.4% | +2.1% | -1.3% | -14.8% | +39.4% | +3.2% | +3.4% | +5.5% | +2.5% | +1.5% | -0.3% | +4.1% | |
| Downside (P10) | $269K | $257K | $235K | |||||||||||
| Upside (P90) | $365K | $398K | $438K |
The forecast range is moderate for this market over this horizon. Near-term outcomes are fairly tight, but the confidence interval widens meaningfully by 2030.
1-Year Spread
$269K to $365K
31.2% of median
5-Year Spread
$235K to $438K
64.1% 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 | Trend |
|---|---|---|---|---|
| Newark · 07112 · (Tract 46) | $296K | $316K | +6.8% | |
| Millville | $300K | $341K | +13.7% | |
| City of Orange | $300K | $330K | +10.1% | |
| Audubon | $301K | $331K | +10.0% | |
| Somers Point | $300K | $329K | +9.7% | |
| Cherry Hill | $299K | $324K | +8.4% |
Nearby areas where the model expects higher 5-year price growth
| Area | Current Value | 5yr Expected | 5yr Change | Trend |
|---|---|---|---|---|
| Newark · 07112 · (Tract 46) | $296K | $316K | +6.8% | |
| Woolwich | $473K | $589K | +24.4% | |
| Swedesboro | $259K | $318K | +22.9% | |
| Camden | $144K | $176K | +22.0% | |
| Hamilton | $294K | $356K | +21.1% | |
| Montvale | $696K | $840K | +20.8% |
Nearby areas with narrower forecast ranges (less uncertainty)
| Area | Current Value | 5yr Expected | Spread | Trend |
|---|---|---|---|---|
| Newark · 07112 · (Tract 46) | $296K | $316K | $203K | |
| Camden (Tract 602000) | $93K | $109K | $53K | |
| Camden (Tract 600700) | $87K | $98K | $52K | |
| Camden (Tract 600800) | $78K | $82K | $46K | |
| Camden (Tract 601800) | $77K | $82K | $40K | |
| Bridgeton | $56K | $63K | $30K |
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
Deep dive into property-level home price forecasts for parcels in this area.