ZIP Code 07306 Housing Market

📝 Local Market Notes

ZIP code 07306 in Hudson County, New Jersey, exhibits a robust upward trajectory in housing values, as evidenced by its Home Price Index (HPI) rising from 403.24 in 2021 to 582.62 in 2025. This four-year expansion represents a cumulative increase of approximately 44%, indicating sustained demand within the micro-market. The most recent year-over-year appreciation of 11.77% underscores the continued momentum, outpacing the broader regional trends significantly. The performance of ZIP 07306 demonstrates clear divergence from both its immediate county and state counterparts. While Hudson County recorded a 9.56% year-over-year increase and the state of New Jersey saw a 4.53% rise, the 07306 market is appreciating at a notably faster pace. This differential suggests that specific local factors are driving premium growth in this area, distinguishing it from the more moderate appreciation observed in neighboring ZIP codes such as 07087, which reported only a 1.75% increase. The strength of this sub-market relative to the county median home value of $539,700 indicates a shift toward higher-valued transactions within the Hudson County landscape. Characteristically, this sub-market appears to be transitioning from a renter-heavy environment to a more owner-occupied, premium segment. With a county-wide owner occupancy rate of just 30.7% and a median household income of $91,795, the high HPI level of 582.62 suggests that properties in 07306 are commanding prices well above the county average. This disparity implies that the inventory available in this specific ZIP code likely consists of newer constructions or significantly renovated units that attract buyers with higher income brackets. Prospective buyers should recognize that the current 7.40% mortgage rate adds substantial carrying costs, yet the rapid appreciation trend suggests that entry prices in 07306 are rising faster than in adjacent areas. Consequently, this market is defined by high velocity and premium pricing, requiring buyers to act swiftly to secure value in a competitive environment.

Based on FHFA House Price Index data.