07068, Roseland, NJ

The Roseland, NJ home equity and home prices are very high when compared to other zip codes in the area. The median home value in Roseland is $1,000,000 while the median home value in neighboring townships is only $350,000. This discrepancy can be attributed to several factors including the fact that Roseland has a large number of luxury homes and condos as well as a high concentration of professionals.

Another contributing factor to the high home values in Roseland is the strong economy. Since 2007, the local unemployment rate has been consistently below 5%. This has led to an influx of buyers and increased demand for housing stock. Additionally, many people who live in Roseland are able to afford mortgage rates that are much higher than those found elsewhere in New Jersey.

Despite these factors, there have been some concerns raised about the long-term stability of the housing market in Roseland. A recent study by Zillow found that over 60% of all homes sold in Roseland between 2010 and 2016 were purchased by investors rather than individuals who intended to live in them permanently. This suggests that there may be a significant bubble present within the market which could burst at any time.