ZIP Code 07422 Housing Market

📝 Local Market Notes

The housing market in ZIP code 07422, located within Sussex County, New Jersey, demonstrates a robust upward trajectory over the past five years. The Home Price Index (HPI) has expanded significantly, rising from 192.25 in 2021 to 292.09 in 2025. This represents a cumulative appreciation of approximately 52% over the period, indicating sustained demand and value growth. The most recent year-over-year change of +4.14% confirms that momentum remains positive, although the pace has moderated slightly compared to the sharp jumps observed in 2023 and 2024. When compared to broader regional metrics, ZIP 07422 is currently underperforming relative to its parent county. The county-wide year-over-year growth stands at +6.57%, while the state average is +4.53%. This divergence suggests that while Sussex County is experiencing a broader surge in housing values, the specific dynamics in 07422 may be stabilizing or facing localized headwinds. In contrast, nearby ZIP 07419 is seeing explosive growth of +18.83%, highlighting significant intra-county variance. The current HPI of 292.1 places 07422 below the neighboring 07419 but above 07418, positioning it as a mid-tier market within the county’s spectrum. The sub-market character of 07422 aligns with the affluent profile of Sussex County, which reports a median household income of $116,186 and an owner-occupancy rate of 83.7%. With a county median home value of $369,400, the area supports a strong owner-occupied base rather than a renter-heavy demographic. For prospective buyers, the practical takeaway is that while entry costs are rising, the current year-over-year growth rate of +4.14% offers a slightly more manageable increase than the county average. However, with the 30-year mortgage rate fixed at 7.40%, financing costs remain a significant barrier. Buyers in 07422 should anticipate continued value appreciation, as the long-term HPI trend remains firmly upward, but must navigate a competitive landscape where nearby micro-markets are appreciating at much faster rates.

Based on FHFA House Price Index data.