07034 — Morris County, New Jersey Market Snapshot
Housing market data for zip code 07034 in Morris County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
17 sales in 2026 (year to date)
Median Sale Price
$650,000
Days to Sell
14
Homes Sold
17
Inventory
9
Sale-to-List
100.6%
New Listings
26
Price/SqFt
$421
Pending Sales
19
Conforming Loan Available
Most homebuyers in 07034 can comfortably use conventional financing. The median home price of $650,000 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
Homes in 07034 are moving quickly at 14 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 07034 (100.6% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
Most homebuyers in 07034 can comfortably use conventional financing. The median home price of $650,000 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 07034 are set at the county level.
2026 Loan Limits — Morris 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 07034
To purchase the median home at $650,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $5,130.
Monthly Payment
$5,130
Income Required
$219,861
Principal & Interest
$4,005/mo
Down Payment (5%)
$32,500
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 07034.
Estimated Monthly Payment
$4,173
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