07438 — Passaic County, New Jersey Market Snapshot
Housing market data for zip code 07438 in Passaic County, New Jersey. Updated monthly with median prices, days on market, and more.
Market Sales Data
25 sales in 2026 (year to date)
Median Sale Price
$580,000
Days to Sell
19
Homes Sold
25
Inventory
33
Sale-to-List
102.7%
New Listings
63
Price/SqFt
$301
Pending Sales
38
Conforming Loan Available
Most homebuyers in 07438 can comfortably use conventional financing. The median home price of $580,000 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 07438 are moving quickly at 19 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes in 07438 are selling 2.7% above asking price on average, signaling strong competition. Buyers should budget above list price.
Conforming Loan Feasibility
Most homebuyers in 07438 can comfortably use conventional financing. The median home price of $580,000 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 07438 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 07438
To purchase the median home at $580,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $4,594.
Monthly Payment
$4,594
Income Required
$196,876
Principal & Interest
$3,574/mo
Down Payment (5%)
$29,000
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 07438.
Estimated Monthly Payment
$3,740
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