ZIP Code 07206 — Elizabeth, NJ Home Prices (2026)
The typical home in ZIP 07206 (Elizabeth, New Jersey) is worth about $514,000 at roughly $288 per square foot — about the same as the Elizabeth median and 75% more expensive than the typical U.S. home.
How 07206 compares
ZIP 07206 is one of the pricier ZIP codes in Elizabeth: its typical home value of $514,000 ranks #2 of the 4 Elizabeth ZIP codes we track (the citywide range runs from $502,000 in 07201 to $591,000 in 07208). Per square foot it costs about $288, against $300 for Elizabeth as a whole, $324 for New Jersey, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 07206 | $514,000 | $288 |
| Elizabeth, NJ | $514,000 | $300 |
| New Jersey | $579,000 | $324 |
| United States | $294,000 | $195 |
Home value by size in 07206
Using this ZIP’s rate of about $288 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $288,000 |
| 1,500 sq ft | $432,000 |
| 2,000 sq ft | $576,000 |
| 2,500 sq ft | $720,000 |
| 3,000 sq ft | $864,000 |
Salary needed to buy a home in ZIP 07206
To buy the typical $514,000 home in ZIP 07206 with 20% down, you need a household income of roughly $140,000 a year (about $3,260 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $166,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $25,700 | $4,060/mo | $174,000/yr |
| 10% (+PMI) | $51,400 | $3,880/mo | $166,000/yr |
| 20% | $102,800 | $3,260/mo | $140,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 07206
At about $288 per square foot, here is roughly how much home different budgets get you in ZIP 07206:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $250k | 870 sq ft | below the local median — condos, smaller or older homes |
| $300k | 1040 sq ft | below the local median — condos, smaller or older homes |
| $400k | 1390 sq ft | below the local median — condos, smaller or older homes |
| $500k | 1740 sq ft | around the typical home here |
| $600k | 2080 sq ft | around the typical home here |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 07206 home.
Estimate a specific home in 07206
The estimator below is pre-set to ZIP 07206 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Elizabeth ZIP codes by home value
Where 07206 sits among Elizabeth’s 4 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 07208 | $591,000 | $311 |
| 2 | 07206 (this page) | $514,000 | $288 |
| 3 | 07202 | $514,000 | $322 |
| 4 | 07201 | $502,000 | $236 |
ZIP 07206 home prices: frequently asked
What is the average home price in ZIP code 07206? +
What is the price per square foot in 07206? +
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Is 07206 an expensive ZIP code? +
See the full Elizabeth home values page, all New Jersey cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.