07055 — Passaic County, New Jersey Market Snapshot
Housing market data for zip code 07055 in Passaic County, New Jersey. Updated monthly with median prices, days on market, and more.
Limited Sales Data
Only 4 homes sold in this ZIP code during the selected period. Statistics may not be representative. See the Passaic County county page for broader data.
Market Sales Data
4 sales in 2026 (year to date)
Median Sale Price
$231,700
Days to Sell
84
Homes Sold
4
Inventory
10
Conforming Loan Available
Most homebuyers in 07055 can comfortably use conventional financing. The median home price of $231,700 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 84 days on average, 07055 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 07055 can comfortably use conventional financing. The median home price of $231,700 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 07055 are set at the county level.
2026 Loan Limits — Passaic 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 07055
To purchase the median home at $231,700 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,925.
Monthly Payment
$1,925
Income Required
$82,509
Principal & Interest
$1,428/mo
Down Payment (5%)
$11,585
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 07055.
Estimated Monthly Payment
$1,584
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