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Look up a home and see where its value may be headed over the next five years.
Essex, NJ · ZIP 07043 · Census Tract 34013016200 · 2027–2030 outlook · Forecasts as of March 2026
Current modeled value
$1.05M
Downside (P10)
$962K
-8% by 2030
Base Case (P50)
$1.10M
+5% by 2030
Upside (P90)
$1.51M
+44% by 2030
Base case: +5% by 2030, with a forecast range from -8% to +44%. The model forecasts this with 73% confidence.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $679K | $707K | $722K | $769K | $767K | $807K | $823K | $917K | $995K | $1.0M | $1.0M | $1.1M | $1.1M | $1.1M |
| YoY Change | +4.2% | +2.1% | +6.6% | -0.3% | +5.3% | +2.0% | +11.4% | +8.4% | +5.1% | +0.3% | +0.6% | +2.3% | +2.1% | |
| Downside (P10) | $981K | $966K | $962K | |||||||||||
| Upside (P90) | $1.2M | $1.4M | $1.5M |
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
$981K to $1.25M
25.4% of median
5-Year Spread
$962K to $1.51M
49.5% 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 |
|---|---|---|---|---|
| Upper Montclair | $1.04M | $1.10M | +5.9% | |
| Maplewood (Tract 019400) | $1.03M | $1.15M | +12.4% | |
| Millburn (Tract 020300) | $1.08M | $1.19M | +10.3% | |
| Maplewood (Tract 019900) | $1.09M | $1.19M | +9.4% | |
| Essex Fells | $1.09M | $1.19M | +8.4% | |
| Millburn (Tract 020200) | $1.04M | $1.10M | +6.2% |
Nearby areas where the model expects higher 5-year price growth
| Area | Current Value | 5yr Expected | 5yr Change | Trend |
|---|---|---|---|---|
| Upper Montclair | $1.04M | $1.10M | +5.9% | |
| Maplewood | $563K | $671K | +19.2% | |
| East Orange | $501K | $597K | +19.1% | |
| City of Orange (Tract 018600) | $317K | $377K | +18.9% | |
| City of Orange (Tract 018300) | $243K | $289K | +18.7% | |
| Newark | $371K | $440K | +18.5% |
Nearby areas with narrower forecast ranges (less uncertainty)
| Area | Current Value | 5yr Expected | Spread | Trend |
|---|---|---|---|---|
| Upper Montclair | $1.04M | $1.10M | $545K | |
| East Orange | $193K | $205K | $126K | |
| Newark (Tract 005000) | $327K | $340K | $118K | |
| Newark (Tract 008900) | $248K | $271K | $104K | |
| Newark (Tract 002800) | $164K | $184K | $98K | |
| Irvington | $147K | $166K | $95K |
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.