Elizabeth, NJ — Momentum Score, Home Values & Best-For

All states·New Jersey·Elizabeth

Union County · New York-Newark-Jersey City · population 140,413

InvestorsRenter-friendly

Image: Wikipedia · Elizabeth, New Jersey

Overview Cost of living Moving guide

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Rising

Momentum score · 0–100

Where Elizabeth stands

At or near all-time high. averaging 8.2% annual growth over 5 years.

Median home $531,592

1-year +2.0%

5-yr CAGR +8.2%

vs 5-yr peak -0.4%

Population +0.6%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly

Lifestyle scores

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Walkability

78/100

Very walkable

Estimated from population density. Higher = denser, more amenities within walking distance.

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Public transit

30/100

Minimal transit

Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.

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Remote work fit

79/100

Strong remote-work fit

Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)

Rent vs buy

Price-to-rent ratio: 19.9

Lean buy

At a 19.9 price-to-rent ratio, Elizabeth is in the 'depends on horizon' zone. Buy if you'll be there 5+ years and value flexibility on the home; rent if you might move, want zero maintenance friction, or expect rates to drop.

How the momentum score breaks down

methodology →

Home YoY

60 · w22%

Home 5-yr CAGR

80 · w22%

Distance from peak

88 · w18%

Population growth

56 · w16%

Rent YoY

45 · w12%

Home 10-yr CAGR

89 · w10%

Long thesis

Elizabeth has held up across the cycle: home values at $531,592 with +8.2% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.

Short thesis

Elizabeth's bear case is the boring one: the cycle is real and any market that's run hard can stall. Watch for slowing population growth, rising days-on-market, or builder discounts as the early warning signals.

About Elizabeth

Elizabeth is a city in Union County, New Jersey, with an estimated population of 140,413. It anchors the New York-Newark-Jersey City metro area. The population grew 0.6% annually from 2020 to 2024, a moderate gain. The median home value in Elizabeth is $531,592 as of 2026-04, up 2.0% over the last 12 months. Over the last five years, home values have averaged +8.2% annual growth, with prices at or near the 5-year peak. Rents in Elizabeth average $2,224 per month, roughly flat year-over-year (-0.0%). The composite momentum score is 70 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●Multi-year compounder: home values up an average 8.2% per year over the last 5 years — sustained, not a one-year pop.

●Held the highs: currently -0.4% from the 5-year peak — this market refused to give back gains.

▼ Bear case

○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Elizabeth (Wikipedia)

Elizabeth is a city in and the county seat of Union County, in the U.S. state of New Jersey. As of the 2020 United States census, the city retained its ranking as the state's fourth-most-populous city behind neighboring Newark, Jersey City and Paterson, with a population of 137,298, an increase of 12,329 (+9.9%) from the 2010 census count of 124,969, which in turn reflected an increase of 4,401 (3.7%) from the 120,568 counted in the 2000 census.

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorJ. Christian "Chris" Bollwage (D, term ends December 31, 2028)

Area13.64 sq mi

Elevation16 ft

Founded1664

MottoLoyal Devoir

Density11145.22/sq mi

Named forElizabeth, wife of Sir George Carteret

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Union County right now.

NWS active alerts (NJ)New Jersey Emergency Management How to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Union County routes NWS alerts; check the state EM portal for non-weather emergencies.