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Essex, NJ · ZIP 07040 · Census Tract 34013019400 · 2027–2030 outlook
Current modeled value
$1.04M
Downside (P10)
$882K
-15% by 2030
Base Case (P50)
$1.15M
+11% by 2030
Upside (P90)
$1.60M
+54% by 2030
Base case: +11% by 2030, with a forecast range from -15% to +54%. The model forecasts this with 66% confidence.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $633K | $645K | $664K | $687K | $717K | $701K | $754K | $855K | $925K | $1.0M | $1.0M | $1.1M | $1.1M | $1.2M |
| YoY Change | +1.9% | +2.9% | +3.6% | +4.4% | -2.2% | +7.5% | +13.5% | +8.1% | +8.2% | +4.1% | +1.4% | +7.4% | +1.5% | |
| Downside (P10) | $942K | $912K | $882K | |||||||||||
| Upside (P90) | $1.3M | $1.4M | $1.6M |
The forecast range is moderate for this market over this horizon. Near-term outcomes are fairly tight, but the confidence interval widens meaningfully by 2030.
1-Year Spread
$942K to $1.30M
33.5% of median
5-Year Spread
$882K to $1.60M
62.7% of median
Forecasts are probabilistic model outputs, not guarantees. The model uses historical data and economic indicators; it does not observe property-specific conditions. This is not financial, investment, or real estate advice. Learn more about our methodology.
Model
Homecastr World Model (Schrödinger Bridge v12)
Forecast Horizon
2027 to 2030
Schema Version
forecast_queue
Citation
Hardesty Lewis, D. (2026). Homecastr Home Price Forecast. Retrieved from homecastr.com.
Data Sources