ZIP Code 07057 Housing Market

📝 Local Market Notes

ZIP code 07057 in Bergen County, New Jersey, exhibits a robust and accelerating price trajectory over the last five years. The Federal Housing Finance Agency House Price Index (HPI) for this sub-market has risen from 210.57 in 2020 to 331.39 in 2025, representing a cumulative appreciation of approximately 57.4%. This upward trend was particularly pronounced in 2022, when the index surged from 221.82 to 270.43, and has continued to climb steadily through 2024 and into 2025. The strong performance indicates sustained demand and limited inventory constraints within this specific geographic area, distinguishing it from broader market fluctuations. The year-over-year appreciation in ZIP 07057 stands at 15.34%, significantly outpacing both the Bergen County average of 6.79% and the New Jersey state average of 4.53%. This substantial divergence signals that 07057 is functioning as a distinct premium sub-market, likely driven by unique local amenities or demographic shifts that are not reflected in the wider county or state data. While nearby ZIP 07641 shows similar strength with 14.19% growth, the adjacent ZIP 07423 is experiencing a 3.64% decline, highlighting the localized nature of these price dynamics. The HPI level of 331.4 places this area well above the baseline, suggesting a high-value residential segment. Given the parent county’s median home value of $623,000 and median household income of $124,884, ZIP 07057 likely represents an established, owner-occupied neighborhood with above-average equity levels. With an owner occupancy rate of 65.3% in the county, the market is skewed toward homeownership rather than rental activity. For prospective buyers, the rapid appreciation combined with a 7.40% national mortgage rate implies that entry costs are rising sharply. Residents should anticipate that property values in 07057 are decoupling from general county trends, requiring a focus on specific local comparables rather than broader regional averages when assessing investment potential or resale value.

Based on FHFA House Price Index data.