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Essex County, NJ

RANK #190 / 996  ·  POP 853,374  ·  NJ

PROJECTED GROWTH: +2.1%

Essex County ranks among the top U.S. counties across nearly every economic indicator.

[01] Why Essex County?

Branch Brook Park in Newark, home to the largest collection of cherry blossom trees in the United States, offers a distinctive landmark within Essex County. Located in northeastern New Jersey, the county is part of the New York metropolitan area. Many towns, such as Montclair, Maplewood, and South Orange, offer direct train service to Manhattan, with commutes ranging from 30 to 45 minutes. The county features a mix of urban centers and affluent suburbs, with diverse communities and a significant park system, including the South Mountain Reservation.

Life in Essex County offers varied experiences, from the urban energy of Newark to the suburban comfort of towns like Bloomfield and West Orange. The county's public schools are generally above average, with 90% of K-12 students attending them. The economy is diverse, with growth in sectors like financial activities, healthcare, and professional and business services. Major employers include institutions in financial services, logistics, and technology.

[02] Market Snapshot

Housing Ratio
6.5x

Above national median (4.7x)

GDP Growth
+3.0%

Above national median

Home Prices
+3.7%

Outpacing national median

Climate & Terrain
-0.0

Below-average climate & terrain

Price/Rent
18x

Above national median (13x)

Housing is fairly valued at 6.5x relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Essex County U.S. National

The Numbers

DEMOGRAPHICS
Population
853,374
+0.08% YoY
Median Household Income
$73,785
Median Home Value
$466,500
+3.73% 12mo
Median Rent
$1,404
Average Annual Pay
$88,369
+4.8% YoY
Employment
349,076
+2.2% YoY
Income-to-Home-Value
0.1582
Less affordable than average
Migration Inflow
2.47%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$670,000
Days on Market
70
Slower market
Months of Supply
4.4
Balanced market
Sale-to-List Ratio
103.9%
Homes selling above asking
Sold Above List
63.5%
Listings w/ Price Drops
7.7%
Building Permits (2024)
3,827
Single-Family Permits
298

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$1,275M
TOTAL
PROJECT AMOUNT STATUS
Newark Energy Center
Brookfield Asset Management (operated by Hartree Partners LP)
$700M Operating
NJ Hospital Site Redevelopment
Unknown
$350M Under Construction
Lionsgate Newark Studio
Lionsgate/Great Point Studios
$125M Under Construction
Essex County Solar Portfolio (multiple projects)
Various (e.g., Dimension Energy LLC)
$50M Operating/Under Construction
DataBank - Downtown Newark
DataBank
$50M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +3.0% 56 percentile
Population Growth +0.1% 33 percentile
Income Growth +8.8% 58 percentile
Vacancy Rate 1.1% 49 percentile
Home Price Change +3.7% 80 percentile
Rent Growth +2.2% 36 percentile
Price/Rent 18x 17 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Essex County, NJ a good place to move to?

Essex County has a Boom Town Index score of 81/100, ranking #190 among 996 U.S. counties. With job growth at +2.2% and a median household income of $73,785, it's an above-average county on economic indicators.

Is Essex County affordable?

The median home value in Essex County is $466,500 with median rent at $1,404/month. The income-to-home-value ratio is 0.1582, which is less affordable than the national average.

Is Essex County growing or shrinking?

Population growth: +0.1% year-over-year. Job growth: +2.2%. Home values changed +3.7% in the past 12 months.

Are people moving to Essex County?

Yes — 2.47% of Essex County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

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