07103, Newark, NJ

The 7103 zip code of Newark, NJ has a population of around 277,000 people. The median household income in the 7103 zip code is $60,000 which is lower than the national median household income of $59,445. The homeownership rate in the 7103 zip code is just over 60% which is lower than the national homeownership rate of 66%.

Home prices in the 7103 zip code have been decreasing for the past few years. In March of 2016, home prices were down 1.5% from March of 2015 and were down 5.8% from March of 2014. Home prices have decreased by an average of 2.4% each year since 2013.

There are a number of factors that could be contributing to the decrease in home prices in the 7103 zip code including low demand due to a weak economy and high supply due to stricter lending criteria imposed by banks during the housing crisis.