07842 — Morris County, New Jersey Market Snapshot
Housing market data for zip code 07842 in Morris County, New Jersey. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 1 home sold in this ZIP code during the selected period. Statistics may not be representative. See the Morris County county page for broader data.
Market Sales Data
1 sales in 2021
Median Sale Price
$154,800
Days to Sell
49
Homes Sold
1
Inventory
N/A
Conforming Loan Available
Most homebuyers in 07842 can comfortably use conventional financing. The median home price of $154,800 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
07842's market is balanced with homes taking an average of 49 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Conforming Loan Feasibility
Most homebuyers in 07842 can comfortably use conventional financing. The median home price of $154,800 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 07842 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 07842
To purchase the median home at $154,800 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,336.
Monthly Payment
$1,336
Income Required
$57,258
Principal & Interest
$954/mo
Down Payment (5%)
$7,740
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 07842.
Estimated Monthly Payment
$1,108
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