Loading forecast data...
Loading forecast data...
Essex, NJ · ZIP 07050 · Census Tract 34013018200 · 2027–2030 outlook
Current modeled value
$363K
Downside (P10)
$314K
-14% by 2030
Base Case (P50)
$393K
+8% by 2030
Upside (P90)
$530K
+46% by 2030
Base case: +8% by 2030, with a forecast range from -14% to +46%. The model forecasts this with 70% confidence.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $217K | $176K | $173K | $207K | $165K | $166K | $268K | $302K | $321K | $349K | $363K | $371K | $378K | $393K |
| YoY Change | -18.9% | -1.8% | +19.5% | -20.0% | +0.1% | +61.7% | +13.0% | +6.2% | +8.7% | +4.2% | +2.0% | +1.9% | +3.9% | |
| Downside (P10) | $311K | $313K | $314K | |||||||||||
| Upside (P90) | $456K | $489K | $530K |
The forecast range is moderate for this market over this horizon. The confidence level stays remarkably consistent through the forecast period.
1-Year Spread
$311K to $456K
39.2% of median
5-Year Spread
$314K to $530K
55.0% 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 |
|---|---|---|---|---|
| City of Orange | $361K | $393K | +8.7% | |
| Irvington (Tract 012400) | $364K | $411K | +12.8% | |
| East Orange | $359K | $400K | +11.4% | |
| Newark | $369K | $400K | +8.2% | |
| City of Orange | $357K | $386K | +8.0% | |
| Irvington (Tract 012000) | $358K | $385K | +7.5% |
Nearby areas where the model expects higher 5-year price growth
| Area | Current Value | 5yr Expected | 5yr Change | Trend |
|---|---|---|---|---|
| City of Orange | $361K | $393K | +8.7% | |
| 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 |
|---|---|---|---|---|
| City of Orange | $361K | $393K | $216K | |
| 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.