Passaic County, New Jersey Housing Market Prices
Passaic County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 7% above the New Jersey median$376,251
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Median rent 6% below the New Jersey median$1,621
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Passaic County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $376,251 | $352,792 | $248,835 |
| Price Trend (Annual %) | 2.8% | 4.4% | 7.5% |
| Median Gross Rent | $1,621 | $1,719 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Passaic County is about 7% higher than in New Jersey. Rent is about 6% lower than the New Jersey average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Passaic County, up about 2.8% and 3.7% a year respectively. Rent is changing faster.
Median rent in Passaic County rose about 36.9% between 2015 and 2024, from $1,184 to $1,621. Over the same span, rent in New Jersey rose about 44.3%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Passaic County.
Buying the median-priced home in Passaic County costs roughly 19.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Passaic County. The price-to-rent ratio in New Jersey is about 17.1.
| Metric | Passaic County | New Jersey Avg | US Average |
|---|---|---|---|
| Median Home Price | $376,251 | $352,792 | $248,835 |
| Median Household Income | $88,196 | $103,817 | $80,455 |
| Price-to-Income Ratio | 4.3 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Passaic County rose about 41.2%, while median household income rose about 55.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Passaic County | New Jersey Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.1% | 59.1% | 58.5% |
| Rental Rate | 45.2% | 33.5% | 31.2% |
| Vacancy Rate | 3.7% | 7.5% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Passaic County has a homeownership rate of 51.1%, lower than the New Jersey average of 59.1%. Its housing vacancy rate is 3.7%, compared with 7.5% in New Jersey.
Housing Stock
| Metric | Passaic County | New Jersey Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.86 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1960 | 1968 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Passaic County was built around 1960. On average, 2.9 people live in a home with about 5.2 rooms, staying for about 17.0 years on average.
Passaic County, NJ Housing Compared With Nearby Counties
Passaic County, NJ is typical in size for this group, 520,457 residents against a local median of 514,287, so the measures below are close to a like for like comparison. The measure that sets Passaic County, NJ apart most is median home price: $376,251, 30% below the local median of $539,796.
Homeownership tells the same story from another angle: 53.1% against a local median of 67.8%, 22% below it. The one measure here that carries a verdict is homeownership, and at 22% below the local median it puts Passaic County, NJ at the weaker end of the local range. The counties themselves spread $404,865 on median home price, so Passaic County, NJ sits at one end of an already wide local range rather than apart from it. Passaic County, NJ has the 4th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Passaic County, NJ | 520,457 | $376,251 #4/6 | $1,621 #5/6 | 53.1% #5/6 |
| Bergen County, NJ | 960,507 | $592,908 | $1,913 | 65.3% |
| Essex County, NJ | 861,155 | $295,435 | $1,531 | 44.9% |
| Morris County, NJ | 514,287 | $539,796 | $1,903 | 74.3% |
| Rockland County, NY | 340,860 | $698,715 | $1,900 | 67.9% |
| Orange County, NY | 406,655 | $293,850 | $1,680 | 67.8% |
Frequently Asked Questions
Common questions about the housing market in Passaic County, New Jersey.
What is the median home price in Passaic County, New Jersey?
The median home price in Passaic County, New Jersey is $376,251, higher than the New Jersey average of $352,792.
What is the average home price in Passaic County, New Jersey?
The typical home price in Passaic County, New Jersey, reported as the median sale price, is $376,251. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Passaic County, New Jersey?
The median gross rent in Passaic County, New Jersey is $1,621 per month, lower than the New Jersey average of $1,719.
What was the median gross rent in Passaic County in 2020?
In 2020, the median gross rent in Passaic County, New Jersey was $1,310 per month.
What is the price-to-rent ratio in Passaic County, New Jersey?
The price-to-rent ratio in Passaic County, New Jersey is about 19.3, meaning it would take roughly 19.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Passaic County.
Are home prices or rent rising faster in Passaic County, New Jersey?
Both home prices and rent are rising in Passaic County, up about 2.8% and 3.7% a year respectively. Rent is changing faster.
What is the homeownership rate in Passaic County, New Jersey?
51.1% of households in Passaic County, New Jersey own their home, lower than the New Jersey average of 59.1%.
What is the vacancy rate in Passaic County, New Jersey?
The housing vacancy rate in Passaic County, New Jersey is 3.7%, lower than the New Jersey average of 7.5%.
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