Edgewater NJ Housing Market 2026: Condos, Rates and Flood Risk

Edgewater is a condo market first. In the three months ending May 2026, condos and co-ops made up 33 of the 48 sales in ZIP code 07020, according to the Redfin Data Center. Bergen County's single-family-driven numbers say little about it: county homes sold at an average of 104.2% of list price in May 2026, while Edgewater homes sold at 98.9%.

The headline median of $715,000 was up 17.7% from a year earlier, but that jump reflects which homes sold, not what they were worth. Median price per square foot was $496, almost unchanged from $500. Condo buyers had more room to negotiate in spring 2026 than at any point since early 2024: 71 condos listed, a 112-day median time on market, and 12% of condo sales closing above list, down from 40% in late 2025.

Rates are now working against sellers. Freddie Mac's Primary Mortgage Market Survey put the 30-year fixed rate at 7.03% on September 24, 2026, the first reading above 7% since January 2025. Redfin's data ends in May 2026, before the summer rate climb.

How to read Edgewater's numbers

Redfin's 07020 series uses rolling three-month windows: the "May 2026" figure covers March through May, and its sales count is a three-month total. Adding four non-overlapping windows, Edgewater recorded 190 residential sales from June 2025 to May 2026: 123 condos, 41 townhouses, 17 single-family homes and 9 two-to-four-family buildings.

With 17 single-family sales a year, the single-family median swung between $830,000 and $2,900,000 from one window to the next. It is close to meaningless. The condo series has enough volume to be useful, and the all-residential median moves with the mix of condos and townhouses. This article therefore leans on price per square foot, days on market, sale-to-list ratios and inventory.

Two years of prices against mortgage rates

What prices did

Source: Redfin Data Center, ZIP 07020.

The all-residential median fell 23.5% from May 2024 to May 2025, then rose 17.7%. Price per square foot rose 6.4% in the first year and slipped 0.8% in the second. Values did not collapse and rebound; the median swung with the number of large townhouses closing. The townhouse median was $1,692,000 on 15 sales in the window ending May 2024 and $959,000 on 5 sales a year later.

Condo price per square foot rose from $456 to $476 over two years, a 4.4% gain, or roughly 2% a year. That is the most reliable reading of Edgewater condo values. In the latest year the condo median rose 6.4% while price per square foot fell 2.6%, so the typical condo sold was somewhat larger, not pricier per foot.

Where the rate swings showed up

The rate cycle is clearer in volume and competition than in prices:

• Summer 2024, rates falling toward 6.08% (late September). In the window ending August 2024, 43% of homes and 43% of condos went under contract within two weeks, the highest shares in the data.
• Early 2025, rates peaking at 7.04% in mid-January. Sales fell to 31 and 32 in the windows ending March, April and May 2025, the lowest since early 2024. Inventory reached 97 by May.
• Fall 2025, rates at 6.26% in September and 6.15% at year-end. Condo competition peaked. In the window ending November 2025, 40% of condo sales closed above list and the average sale-to-list ratio hit 99.5%.
• Late February 2026, rates briefly at 5.98%. No surge followed. The window ending March 2026 had 22 condo sales and a 116-day median time on market, though winter seasonality explains part of that.
• Spring 2026, rates back at 6.46% by early April. The share of condo sales above list fell to 11% and 12% in the windows ending April and May.

Edgewater condo buyers react quickly to rates, but they have pushed back through time on market and negotiation more than through lower price per square foot. Condo price per square foot stayed between $467 and $502 in every window from May 2025 through May 2026.

Supply and competition in spring 2026

Source: Redfin Data Center, ZIP 07020.

Redfin does not publish months of supply for this series, but inventory divided by the monthly sales pace gives an estimate. In May 2026, 97 listings against 16 sales a month (48 over three months) is about 6.1 months, compared with about 9.1 months in May 2025 and 3.5 in May 2024. Condos alone came to about 6.5 months (71 listings, 11 sales a month). Around six months is usually read as balanced, so condos lean slightly toward buyers.

Redfin shows Bergen County condos at 6.9 months of supply in May 2026, so Edgewater's condo supply is in line with the county's condo segment. The county's bidding wars (61% of all homes sold above list) are driven mostly by single-family houses, though even Bergen condos sold above list 47% of the time in May, against 12% for Edgewater condos.

Sellers still get close to asking (98.4% average condo sale-to-list), but the share of condos selling above list fell from 31% in May 2024 to 12% in May 2026.

Housing stock and price tiers

Condos and co-ops. Most Edgewater homes are in mid- and high-rise buildings along River Road and the Hudson waterfront. At $476 per square foot, the $580,000 median condo buys roughly 1,200 square feet.

Townhouses. Sales rose from 25 in the year ending May 2025 to 41 in the year ending May 2026. The townhouse median in the latest window was $1,127,000, with a 45-day median time on market, the fastest of any segment.

Single-family and multi-family. Only 6 detached houses were listed at the end of May 2026, and two-to-four-family buildings traded 9 times in the year. In both, buyers should rely on individual comparable sales rather than the median.

Edgewater against its neighbors

Source: Redfin Data Center ZIP series.

Edgewater has the highest condo price per square foot of the three: 4% above Fort Lee and 23% above Cliffside Park. Its median is 63% above Fort Lee's, so the gap mostly reflects larger units, not higher pricing per foot. Edgewater also had the lowest sale-to-list ratio and the smallest share sold above list of the three in spring 2026. Cliffside Park condos sold fastest, but its median fell from $522,000 to $475,000 over the year.

What it costs to own

Property tax

The New Jersey Division of Taxation's 2025 General Tax Rates table lists Edgewater's general tax rate at 1.645 per $100 of assessed value and its effective rate at 1.545%. The effective rate adjusts for how assessments compare with market value, so it is the better way to estimate a bill from a price. At 1.545%, estimated annual taxes are about $8,960 on a $580,000 condo, $11,050 on a $715,000 home and $17,410 on a $1,127,000 townhouse. Ownwell puts the median Edgewater bill at $8,560. Actual bills depend on each assessment, which the seller's bill or the borough tax collector can confirm.

The state's ANCHOR program offsets part of this. For tax year 2025, homeowners under 65 get $1,500 with income up to $150,000 and $1,000 from $150,000 to $250,000; renters with income up to $150,000 get $450; applicants 65 and older get $250 more.

HOA fees

Association fees vary widely by building, amenities and unit size, and no reliable town-wide figure was found, so this article treats the fee as a variable. Every $500 a month in dues adds $6,000 a year and, under a 28% housing-cost ratio, about $21,400 to the income needed. Buyers should get the budget, reserve study and any pending special assessments before signing. Waterfront buildings face seawall, facade and flood-proofing costs that can turn into assessments.

Transfer costs above $1 million

For sales under contracts fully executed on or after July 10, 2025, New Jersey's graduated percent fee (the former "mansion tax") is paid by the seller, according to NJ Realtors. It is 1% of the full price from $1 million to $2 million, rising to 3.5% above $3.5 million. On a $1,127,000 townhouse sale, that is about $11,270 from the seller's proceeds.

Monthly payments and affordability

Assumptions: 20% down, 30-year fixed, the Freddie Mac rates shown, and tax at 1.545% of price. HOA dues and insurance are excluded.

Loan amounts: $464,000, $572,000 and $901,600.

The rise from 5.98% in February to 7.03% adds $320 a month to principal and interest on the median condo loan. In payment terms, that is like paying about 11.5% more for the same condo at the February rate.

At 28% of gross income for principal, interest and taxes, the median condo needs about $164,700 of household income at 7.03%. The $715,000 median needs about $203,000 and the median townhouse about $320,000. Adding $600 a month of HOA dues pushes the condo figure to about $190,400. Data USA, using Census American Community Survey data, puts Edgewater's median household income at $124,050. At current rates, a household at the local median could not carry the median condo on a conventional 20%-down loan without more savings or income. Data USA also reports that only 39.8% of Edgewater homes are owner-occupied.

Renting and the investor angle

RentCafe reports an average Edgewater apartment rent of $3,663, up 1.1% in a year: $2,554 for a studio, $2,876 for a one-bedroom, $4,140 for a two-bedroom (1,245 sq ft) and $6,130 for a three-bedroom.

Rent versus buy. The $4,140 two-bedroom average is about $300 a month more than principal, interest and taxes on a $580,000 condo at 7.03% ($3,843). Once HOA dues and insurance are added, owning usually costs more each month, and buying also takes a $116,000 down payment plus closing costs. At the roughly 2% a year condo price-per-square-foot growth of the past two years, recovering those costs takes several years of ownership.

Investor math. A $580,000 condo renting at $4,140 would gross $49,680 a year, an 8.6% gross yield. After about $8,960 in taxes, that is 7.0%; after $600 a month in HOA dues, about 5.8%, before insurance, vacancy, repairs and management. With 20% down at 7.03%, a $3,096 P&I payment leaves little or no positive cash flow. Check each building's leasing rules, since many associations limit rentals.

The rental pipeline matters too. In October 2025 the Maxal Group closed a $255 million construction loan for a 25-story, 381-unit apartment tower at 615 River Road. It is the first phase of a 1,200-unit plan approved in 2021 on the former Hess fuel-tank site, according to New York YIMBY. New amenity-rich rental towers compete with investor-owned condos for tenants.

Development and environmental cleanup

The 615 River Road plan came out of a 2019 legal settlement. Jersey Digs reported that it allowed up to 1,200 market-rate and affordable units, required remediation, and set aside land for the borough for a new school and open space. Multi-Housing News describes the full project as including retail, a new ferry terminal and public amenities on more than 19 acres. No completion date for the full build-out was confirmed for this article.

The adjacent former Quanta Resources property is a federal Superfund site. The EPA has finalized a cleanup plan for contaminated Hudson River sediment and surface water, including capping and long-term monitoring. According to the remediation project's site, crews were to begin sampling river sediment at more than 100 locations in late May 2026.

Edgewater has also litigated contamination on public land: the borough sued contractors after PCB-contaminated fill was placed at Veterans Field in 2013, a case heard in federal court.

Flood exposure

Flood risk is Edgewater's biggest site-specific question. The borough's post-Sandy Strategic Recovery Planning Report, filed with the New Jersey Department of Community Affairs, states that nearly 38% of the borough lies in FEMA's Special Flood Hazard Area and that 593 properties were affected by Sandy in October 2012, with extensive flooding east of River Road and on the road itself.

Three rules shape how that risk shows up in a deal:

1. Disclosure. New Jersey's Flood Risk Notification Law, in effect since March 20, 2024, requires sellers to disclose FEMA floodplain status, flood history and past federal flood assistance, and requires landlords to tell tenants if a unit is in a flood hazard area.
2. Insurance. Buildings in the Special Flood Hazard Area with federally backed mortgages generally must carry flood insurance. In a condo, the association's master policy covers the building; owners may need contents coverage. Ask for the master flood policy and its cost history.
3. New construction. In January 2026, NJDEP adopted its REAL rules, which, per Riker Danzig's summary, set the tidal design flood elevation at FEMA's base flood elevation plus 4 feet. New waterfront projects must build to that standard.

Check each address on the FEMA Flood Map Service Center and NJFloodMapper, ask for the elevation certificate, and find out where mechanical rooms and parking sit relative to flood elevation. In a high-rise, that often matters more than the unit's floor.

Schools

Edgewater runs a small district: George Washington School serves pre-K to grade 2 and Eleanor Van Gelder School grades 3 to 6. U.S. News lists Eleanor Van Gelder at 384 students, with 60% proficient in math and 63% in reading on state tests.

For grades 7 to 12, students attend Leonia Middle School and Leonia High School under a sending/receiving agreement. Edgewater holds one seat on the ten-member Leonia Board of Education. U.S. News reports 49% math and 70% reading proficiency at Leonia High School, and SchoolDigger ranked it 98th of 434 New Jersey high schools for 2024-25. Grades 7 to 12 are governed mostly by another borough's board. The NJ School Performance Reports have the latest official figures.

Commute and River Road

NY Waterway's Edgewater Ferry Landing runs weekday commuter service to Midtown/West 39th Street, stopping at Port Imperial for connections downtown. A local commute guide puts the crossing at roughly 12 to 15 minutes, or about 20 including shuttle and walking. Fares rose 5.5% on May 11, 2026, through a fuel surcharge the company called temporary, News 12 reported.

NJ Transit buses, including the 158, run along River Road to the Port Authority Bus Terminal; the same guide puts the 158 at roughly 22 to 44 minutes depending on traffic.

River Road (County Route 505) is the town's main north-south artery. During Sandy, fallen trees on it cut the borough in half for emergency vehicles, according to the recovery report. With 1,200 units planned at 615 River Road, test the rush-hour drive before buying.

Strategy for buyers

• Negotiate terms as well as price. With 12% of condos selling above list and a 112-day median time on market, credits, repairs and flexible closings are reasonable asks, especially on listings past 60 to 90 days.
• Compare price per square foot within the building. Edgewater condos have held between $467 and $502 per square foot for a year. A unit priced well above recent sales in its own building needs a clear reason.
• Price the HOA and flood file into the offer. A low price with a high fee, thin reserves or uninsured flood exposure is not a bargain.
• Budget at today's rate. At 7.03%, each $10,000 borrowed costs about $67 a month. A future refinance is possible, not certain.

Strategy for sellers

• Price to current comparables, not late 2025. The window when 40% of condos sold above list came with rates near 6.2%. Above 7%, pricing at recent per-square-foot sales in the building is more likely to draw offers in the first month.
• Have the paperwork ready. Buyers will ask for the association budget, flood insurance and elevation information, and the flood disclosure questions are mandatory.
• Townhouse sellers above $1 million should budget for the seller-paid graduated percent fee.

Outlook for the next 6 to 12 months

The latest data (through May 2026) showed condo competition fading with rates in the mid-6% range, and rates have since climbed from 6.49% in late June to 7.03%. The last time rates passed 7%, in early 2025, Edgewater's three-month sales fell to about 31. If rates stay above 7%, fewer sales and longer marketing times this fall and winter are the more likely outcome. Because price per square foot held steady through earlier rate swings, the adjustment is more likely to come through negotiation than through a sharp drop in values.

What would change that view:

• Rates falling back toward 6%. In late 2025, condo competition picked up with rates near 6.2%, though the brief dip to 5.98% in February 2026 brought no surge.
• Inventory. Condo listings well above May's 71, with sales near 11 a month, would put pressure on price per square foot.
• 615 River Road's first tower. Its opening could weaken investor demand for condos.
• Flood and environmental news. FEMA map changes, flood insurance costs or Quanta findings could affect specific buildings more than the town average.

Frequently asked questions

What is the median home price in Edgewater, NJ?

For the three months ending May 2026, Redfin's median sale price for ZIP 07020 was $715,000 for all residential property and $580,000 for condos, at $496 and $476 per square foot.

Is Edgewater a buyer's market?

For condos, spring 2026 leaned toward buyers: about 6.5 months of supply, a 112-day median time on market and 12% of sales above list. Townhouses sold faster.

How much are property taxes?

The 2025 effective tax rate is 1.545%, or about $8,960 a year on a $580,000 condo. Actual bills depend on each assessment.

Is Edgewater in a flood zone?

Nearly 38% of the borough is in FEMA's Special Flood Hazard Area, according to its post-Sandy recovery report. Exposure varies by building, so check the FEMA map and the seller's flood disclosure for each address.

Sources

• Redfin Data Center
• Freddie Mac Primary Mortgage Market Survey
• NJ Division of Taxation, 2025 General Tax Rates
• Edgewater Borough Tax Collector
• Ownwell, Edgewater property taxes
• NJ Division of Taxation, ANCHOR Program
• NJ Realtors, Graduated Percent Fee
• Data USA, Edgewater, NJ
• RentCafe, Edgewater average rent
• Real Estate NJ, 615 River Road financing
• New York YIMBY, 615 River Road
• Jersey Digs, 1,200-unit approval
• Multi-Housing News, 615 River Road Phase 1
• U.S. EPA, Quanta Resources cleanup plan
• Quanta Resources remediation, pre-design investigation
• U.S. District Court, Borough of Edgewater v. Waterside Construction
• NJ DCA, Edgewater Strategic Recovery Planning Report
• NJDEP, Flood Disclosure Law
• NJDEP, REAL rules overview
• Riker Danzig, REAL rule summary
• FEMA Flood Map Service Center
• NJFloodMapper
• Edgewater School District
• U.S. News, Eleanor Van Gelder
• U.S. News, Leonia High School
• Leonia Board of Education
• SchoolDigger, Leonia High School
• NJ School Performance Reports
• NY Waterway, Edgewater Ferry Landing
• News 12 New Jersey, NY Waterway fuel surcharge
• NJ Transit MyBus, Route 158
• Selleck Sells NJ, Edgewater commute guide