07108 — Essex County, New Jersey Market Snapshot
Housing market data for zip code 07108 in Essex County, New Jersey. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 6 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Essex County county page for broader data.
Market Sales Data
6 sales in 2026 (year to date)
Median Sale Price
$487,500
Days to Sell
81
Homes Sold
6
Inventory
14
Conforming Loan Available
Most homebuyers in 07108 can comfortably use conventional financing. The median home price of $487,500 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
With homes sitting for 81 days on average, 07108 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Conforming Loan Feasibility
Most homebuyers in 07108 can comfortably use conventional financing. The median home price of $487,500 is well below the 2026 conforming loan limit of $1,209,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 07108 are set at the county level.
2026 Loan Limits — Essex County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $1,209,750 | $1,249,125 |
| 2 Units | $1,548,975 | $1,599,375 |
| 3 Units | $1,872,225 | $1,933,200 |
| 4 Units | $2,326,875 | $2,402,625 |
Affordability Snapshot — Zip 07108
To purchase the median home at $487,500 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $3,885.
Monthly Payment
$3,885
Income Required
$166,503
Principal & Interest
$3,004/mo
Down Payment (5%)
$24,375
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 07108.
Estimated Monthly Payment
$3,167
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