ZIP Code 07087 Housing Market

📝 Local Market Notes

The housing market in ZIP code 07087, located in Hudson County, New Jersey, exhibits a robust long-term appreciation trajectory. The Federal Housing Finance Agency House Price Index (HPI) for this area has risen significantly over the past five years, climbing from 349.83 in 2021 to 522.07 in 2025. This represents a cumulative increase of approximately 49.2% in just four years, indicating sustained demand and value growth within this specific sub-market. The recent trend shows continued momentum, with the index moving from 513.07 in 2024 to 522.07 in 2025, confirming that price appreciation remains active despite broader economic headwinds. However, a notable divergence exists between the ZIP-level performance and the broader regional metrics. While ZIP 07087 recorded a year-over-year gain of 1.75%, the parent Hudson County experienced a much stronger 9.56% increase, and the state of New Jersey saw a 4.53% rise. This underperformance relative to the county average suggests that 07087 may be lagging behind neighboring areas, such as ZIP 07306, which posted an 11.77% YoY gain. This disparity could indicate specific local factors affecting liquidity or demand in 07087, or it may reflect a market that has already priced in significant appreciation over the prior period, leading to a temporary slowdown in velocity. Contextualizing this with parent county data, the median home value in Hudson County stands at $539,700, while the median household income is $91,795. Given the high HPI level of 522.1, ZIP 07087 likely represents a premium segment of the Hudson County market, potentially characterized by higher-end inventory compared to the county’s 30.7% owner-occupancy rate. For prospective buyers, the current 30-year mortgage rate of 7.40% significantly impacts affordability. Residents should note that while long-term equity growth has been substantial, the current year-over-year growth is modest compared to the county, suggesting a stabilizing phase rather than a rapid acceleration. Investors and buyers should monitor whether this divergence persists or if 07087 aligns more closely with the stronger county-wide trends in future reporting periods.

Based on FHFA House Price Index data.