Passaic County, New Jersey Housing Market
In Passaic County, New Jersey, the median home value is $459,500, with a median monthly rent of $1,621. This places Passaic County at #179 nationally out of 3134 counties by median home value, and #10 within New Jersey.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,193
- Establishments: 15,401
- BLS QCEW, 2025
Housing Supply
- Single-family: 134
- Multi-family: 451
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 218,297 (avg $78,283)
- Outflow: 218,497 (avg $78,540)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Passaic County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 07504 | 305.2 | -7.98% | 2025 |
| 2 | 07421 | 292.5 | +1.86% | 2025 |
| 3 | 07403 | 278.1 | +10.81% | 2025 |
| 4 | 07420 | 286.6 | +4.93% | 2025 |
| 5 | 07014 | 343.1 | +8.93% | 2025 |
| 6 | 07465 | 262.9 | +2.98% | 2025 |
| 7 | 07508 | 290.3 | +11.73% | 2025 |
| 8 | 07011 | 324.6 | +5.04% | 2025 |
| 9 | 07506 | 260.1 | +5.64% | 2025 |
| 10 | 07424 | 279.5 | +9.35% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Passaic County Compares
| Metric | Passaic County | New Jersey Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $459,500 | $430,014 | $227,706 |
| Median Gross Rent | $1,621 | $1,634 | $968 |
| Owner Occupancy Rate | 53.1% | 68.3% | 73.3% |
| Price/Rent Ratio | 23.6 | 21.6 | 18.7 |
Market Analysis
The median home value in Passaic County is 6.9% above the New Jersey state average and 101.8% above the U.S. national average. The median rent of $1,621/month is 0.8% below the state average.
With a price-to-rent ratio of 23.6, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Passaic County has an owner-occupancy rate of 53.1%, compared to 68.3% in New Jersey and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Orange County | North Carolina | $459,500 | $1,496 |
| Fulton County | Georgia | $458,800 | $1,732 |
| Calvert County | Maryland | $460,200 | $1,759 |
| Dare County | North Carolina | $460,400 | $1,345 |
| Leelanau County | Michigan | $458,400 | $1,228 |
Other Counties in New Jersey
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Middlesex County | $462,900 | $1,871 | 63.6% |
| Cape May County | $434,600 | $1,360 | 80.3% |
| Hunterdon County | $517,200 | $1,687 | 85.1% |
| Ocean County | $398,400 | $1,755 | 80.7% |
| Essex County | $524,100 | $1,531 | 44.9% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).