Real Estate Market Update for 07055 (Passaic, NJ)
Welcome to July's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was down 27% from one year earlier, and up 3% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just over 200-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was up 94%. This higher number of days may signal a slowdown in the local inventory-turnover rate. The median sale price was just under 150-thousand dollars. The number of units sold decreased 8% year-over-year, and decreased 8% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 07055 (Passaic, NJ)
Area Information for 07055 (Passaic, NJ)
  • Population: 71,026
  • Median Age: 28.69 yr
  • Median Commute Time: 21.97 mins
  • Educational Climate*: 2
  • Sales Tax: 6.909%
  • Population Density: 22,615/sq mi
  • Population Change Since 2000: 4.39%
  • Closest Airport: Newark Liberty International
  • Closest College: Felician College
  • Closest Jr. College: Dover Business College
  • Median Household Income: $31,820
  • Annual Residential Turnover: 15.16%
  • Median Years in Residence: 2.46 yr
  • Median Home Sales Price: $170,000
  • Closest Major Sports Team: New Jersey Devils
  • Change Avg. Household Income Since 2000: -6%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 07055 (Passaic, NJ)
Median Age: 28.69 Married: 19% Number of Households: 20,137 Households with Children: 10,030
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 07055 (Passaic, NJ)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Passaic High School 0.1 mi Public 9-12 0 2
      Number 4, Lincoln Middle School 0.2 mi Public 7-8 1 2
      New Generation Christian Academy 0.2 mi Private - 0 0
      Number 16 0.3 mi Public PRESCHOOL-K 0 0
      Our Lady Of Mount Carmel School 0.3 mi Catholic PRESCHOOL-2 0 4
      Passaic Arts And Science Charter School 0.3 mi Public 4-8 2-5 0
      Yeshiva Ktana Of Passaic Girls 0.4 mi Private K-12 0 3
      Yeshiva Ktana Girls 0.4 mi Private K-8 0 0
      Bais Yaakov Of Passaic High School 0.4 mi Private 9-12 0 0
      Collegiate School 0.4 mi Private PRESCHOOL-12 0 3
      Number 11, Cruise Memorial Elementary School 0.4 mi Public 1-6 0 4
      Ybh Of Passaic-hillel 0.5 mi Private PRESCHOOL-8 0 0
      Noble Leadership Academy 0.5 mi Private PRESCHOOL-10 0 0
      Number 6 Martin L King 0.5 mi Public PRESCHOOL-6 2 0
      St. Anthony Of Padua School 0.6 mi Catholic 3-8 0 3
      Number 15 vincent Capuana 0.6 mi Public PRESCHOOL-PRESCHOOL 0 5
      Number 1, Thomas Jefferson Elementary School 0.6 mi Public K-6 2 4
      Number 3 Mario J Drago 0.7 mi Public PRESCHOOL-6 2 4
      Number 2 Elementary School 0.8 mi Public K-2 0 0
      Hope Academy 0.8 mi Public 9-12 0 0
      Number 5 Middle School 0.8 mi Public 3-5 2 4
      Number 7, Grant Elementary School 0.8 mi Public PRESCHOOL-2 0 0
      Etta Gero No 9 Elementary School 0.8 mi Public 4-6 1 0
      Essex High School 0.9 mi Public 9-12 0 0
      Number 8, Pulaski Elementary School 0.9 mi Public K-5 0 0
      Number 10, Roosevelt Elementary School 1.0 mi Public 2-6 3 4
      Number 19 Daniel F Ryan 1.0 mi Public 2-6 3 3
      Passaic Catholic Regional School 1.0 mi Catholic PRESCHOOL-8 0 0
      Mesivta Tiferes Rav Zvi Aryeh Zemel 1.1 mi Private 9-12 0 0
      Number 17 1.2 mi Public PRESCHOOL-1 0 2
      Yeshiva Ktana Of Passaic Boys 1.2 mi Private PRESCHOOL-8 0 5
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for 07055 (Passaic, NJ)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.