07046 — Morris County, New Jersey Market Snapshot
Housing market data for zip code 07046 in Morris County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
10 sales in 2026 (year to date)
Median Sale Price
$1,253,151
Days to Sell
18
Homes Sold
10
Inventory
14
Sale-to-List
104.3%
New Listings
29
Price/SqFt
$434
Pending Sales
19
Jumbo Loan Likely Needed
The median home in 07046 at $1,253,151 exceeds the 2026 conforming loan limit of $1,209,750 by $43,401. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Market Insights
Market Temperature
Homes in 07046 are moving quickly at 18 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes in 07046 are selling 4.3% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
The median home in 07046 at $1,253,151 exceeds the 2026 conforming loan limit of $1,209,750 by $43,401. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Loan limits in 07046 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 07046
To purchase the median home at $1,253,151 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $9,751.
Monthly Payment
$9,751
Income Required
$417,911
Principal & Interest
$7,722/mo
Down Payment (5%)
$62,658
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 07046.
Estimated Monthly Payment
$7,905
Connect with a LoanGraphs Loan Officer
Get expert guidance for zip code 07046. Tell us what you're looking for.