Essex, NJ · ZIP 07040 · Census Tract 34013019700 · 2027–2030 outlook
Current modeled value
$560K
Downside (P10)
$499K
-11% by 2030
Base Case (P50)
$671K
+20% by 2030
Upside (P90)
$906K
+62% by 2030
Base case: +20% by 2030, with a forecast range from -11% to +62%. Uncertainty is typical relative to similar Essex markets.
| Year | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Median Value | $284K | $282K | $293K | $297K | $342K | $380K | $408K | $460K | $530K | $563K | $560K | $594K | $619K | $671K |
| YoY Change | -0.7% | +3.9% | +1.1% | +15.4% | +11.1% | +7.3% | +12.8% | +15.3% | +6.1% | -0.5% | +6.0% | +4.2% | +8.5% | |
| Downside (P10) | $457K | $474K | $499K | |||||||||||
| Upside (P90) | $732K | $761K | $906K |
The forecast range is moderate for this market over this horizon. The range stays consistent through the forecast period.
1-Year Spread
$457K to $732K
46.3% of median
5-Year Spread
$499K to $906K
60.7% 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