ZIP Code 07092 Housing Market

📝 Local Market Notes

The housing market in ZIP code 07092, located in Union County, New Jersey, has demonstrated a pronounced upward trajectory over the past five years. The FHFA House Price Index for this area rose from 186.4 in 2021 to 272.2 in 2025, representing a cumulative gain of approximately 46%. This sustained appreciation indicates a robust local demand environment that has outpaced broader regional trends during this period. Notably, the ZIP code’s recent year-over-year growth of 11.24% significantly exceeds the county average of 5.47% and the state average of 4.53%. This substantial divergence suggests that 07092 is experiencing localized price momentum that is decoupled from the general cooling seen in surrounding areas. While nearby ZIP 07202 recorded a decline of 8.71%, and ZIP 07201 sits at a much higher HPI level of 455.5, 07092 occupies a distinct middle ground. The disparity between the ZIP’s performance and the county median implies that specific local factors are driving premium pricing within this specific postal boundary, rather than uniform regional appreciation. In terms of sub-market character, the area aligns with the broader Union County profile, where the median home value stands at $529,200 and the median household income is $103,202. With an owner-occupancy rate of 57.4%, the market leans toward investment or rental activity rather than pure owner-occupancy. For prospective buyers, the data highlights a market where entry costs are rising rapidly relative to income levels. The combination of high year-over-year growth and a mortgage rate of 7.40% creates a challenging affordability landscape. Residents and investors should recognize that while the area offers competitive positioning against higher-priced neighboring ZIPs, the rapid appreciation rate indicates limited price stability, requiring careful consideration of long-term holding costs and potential liquidity constraints in a tightening market.

Based on FHFA House Price Index data.