07109, Belleville, NJ

Belleville, NJ is located in Essex County and has a population of approximately 60,000. The median household income in Belleville is $101,000 and the median home value is $269,500. Home equity in Belleville peaked at $328,000 in 2007 but has since decreased to $259,500 as of 2016.

The average home price in Belleville increased by 9% from 2014 to 2015 and by 12% from 2015 to 2016. The average monthly mortgage payment for a home worth $269,500 in Belleville was $1,812 as of September 2016.

There are several factors that contribute to the high demand for homes in Belleville including its close proximity to New York City (just over an hour away), its low crime rates (ranked #2 out of 576 municipalities nationwide), and its strong economy which has seen job growth rate increase by 2% over the past year. Despite these factors, there are also some challenges that come with living in Belleville such as high prices and limited housing options.

Overall, it seems that home equity is still very valuable in Belleville despite recent decreases in prices. This may be due to the strong economy or the many amenities available nearby such as shopping malls and restaurants.