Newark
New Jersey · Ranked #91 of 102 metros
28Crisis
Median Home Price
🏠$510K
Need $146K income
Median Rent
🔑$2K
Need $70K income
Housing Shortage
📉55,000
units needed
Building Permits
🔨10,000
annual
Median Income
💰$82K
Pop: 2,060,048
Rent Burden
⚠️37.0%
of renters paying >30%
Price Change (YoY)
📈+5.5%
Homeownership
🏡58.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Newark | National |
|---|---|---|
| Price-to-Income Ratio | 6.2x | 6.1x |
| Rent Burden | 37.0% | 31.5% |
| Homeownership Rate | 58.0% | 65.5% |
| YoY Price Change | +5.5% | +3.5% |
| YoY Rent Change | +4.5% | +2.8% |
| Mortgage Denial Rate | 15.5% | 13.5% |
| Eviction Rate | 4.5% | 3.6% |