Affordability evidence
Elizabeth, NJ home values, income, and owner costs
A borrower-focused reading of the latest ACS value, income, and owner-cost evidence for Elizabeth, NJ.
Source: U.S. Census Bureau
Last updated . Article facts reviewed through this date. Time-sensitive figures show their own as-of dates.
The local figures answer the first question: In Elizabeth, NJ, the 2024 ACS reports a median owner-occupied home value of $449,300, median household income of $66,555, and median selected monthly owner costs of $2,916 for owners with a mortgage. For borrower planning, together, those three reference points may help a borrower identify which search-price, income, and recurring-cost assumptions need current verification first. They remain separate medians, not the finances of one representative household, and the $2,916 measure combines recurring ownership expenses in place of real estate taxes alone. A useful affordability review starts with $449,300, $66,555, and $2,916, then replaces them with the borrower's documented income, cash, debts, property taxes, insurance, association charges, loan terms, and intended occupancy.
Elizabeth, NJ's $449,300 median home-value estimate is below the statewide $454,400 estimate, with a reported city-to-state gap of 1.1%. For borrower planning, that 1.1% gap is useful for showing that a statewide midpoint may be a poor substitute for a local search range in Elizabeth, NJ.