Hackensack NJ Housing Market 2026: Condos, Prices, Taxes, Outlook

Hackensack's housing market is two markets sharing a ZIP code. Condos and co-ops made up about two-thirds of the city's 301 recorded sales in the year to May 2026, and their prices have been flat for two years. Single-family houses are a much smaller slice, about 63 sales a year, and their prices kept rising.

Across all property types, the ZIP 07601 median sale price was $380,000 for the three months ending May 2026, according to the Redfin Data Center, almost exactly where it was two years earlier ($382,550). Price per square foot rose from $351 to $369. Competition changed more than price: the share of homes selling above list fell from 65% to 38%, and average sale-to-list dropped from 103.6% to 100.2%.

Mortgage rates swung from 6.08% in September 2024 to 7.04% in January 2025, down to 5.98% in February 2026 and back to 7.03% this week (Freddie Mac PMMS). Locally, the swing shows up in how hard buyers bid rather than in prices, and bidding kept cooling even when rates dipped below 6%.

How to read the numbers

The chart on this site uses Redfin's series for ZIP 07601, which covers most of the city (07602 is used for post office boxes). Each ZIP data point is a rolling three-month window: "May 2026" means sales closed from March through May 2026, and sale counts are three-month totals. For yearly totals, months of supply and price cuts, this article uses Redfin's single-month series for the city of Hackensack.

Two cautions. The all-residential median depends heavily on the mix of condos and houses in each window. And house counts are small, often 15 to 20 per window, so a few larger homes can move the median by tens of thousands of dollars. Price per square foot and the competition measures are steadier guides.

Two years of prices and rates

The headline median mostly reflects mix

Source: Redfin, ZIP 07601, rolling three-month medians.

The all-residential median fell 12% in the year to May 2025 and rose 13% in the year to May 2026. Neither move matches what happened to condos (flat) or houses (up both years). The line swings because the share of houses in each window changes.

Early 2026 is the clearest example. The median hit $432,500 in the window ending March 2026, up 17% year over year. In that window 19 of the 56 sales were houses, about 34%, compared with about 21% for the full year (63 of 301 in the city series). By the April window, with fewer houses closing, the median was back to $350,000.

Condos: flat prices, weaker bidding

The condo and co-op median was $305,000 in the May 2024 window, $319,000 a year later and $315,000 in May 2026. Price per square foot went from $352 to $345 to $362. Competition weakened steadily:

• Average sale-to-list fell from 104.0% to 100.8% to 99.8%.
• The share sold above list fell from 64% to 53% to 33%.
• Median days on market went from 58 to 83 to 74.
• Recorded condo sales in the city series fell from 226 (June 2023 to May 2024) to 214 to 199.

The low point was the window ending April 2026: 27% of condos sold above list and the average sale closed at 99.5% of asking. That came right after rates touched 5.98%. Cheaper money did not bring condo bidding back.

Single-family: still rising, on thin volume

The single-family median rose from $532,750 (May 2024) to $580,000 to $680,000, a 28% two-year gain on only 17 sales in the latest window. Price per square foot went from $348 to $407 to $388, about 11% over two years, which is the more realistic read of value growth.

Houses remain more competitive than condos: in the May 2026 window, 59% sold above list at an average 101.9% of asking. But active house inventory was 32, against 20 a year earlier and 22 two years earlier, while recorded house sales fell from 83 to 74 to 63 over the last three 12-month periods. More listings and fewer sales are an early sign this segment is loosening too, even though prices have not responded.

Where the rate swing showed up

• September 2024, rates at a two-year low of 6.08%. 60% of sales in the window closed above list, at an average 103.0% of asking.
• January 2025, rates peaked at 7.04%. In the windows ending February and March 2025, sale-to-list was 100.0% and 99.6%, fewer than half of sales went above list, and median days on market reached 95. Winter plays a part, but March 2024 had been at 103.3%.
• February 2026, rates fell to 5.98%. Sale-to-list was 103.0% in the window ending February, then 100.4% in March and 99.9% in April, and the above-list share fell to 37%.
• June to September 2026, rates rose from 6.49% to 7.03%. Redfin's data ends in May, so this is not yet visible.

Rates moved buyer behavior more than prices. Higher rates coincided with less bidding and longer marketing times; lower rates did not reverse it, while for-sale inventory grew and thousands of new apartments opened or were under construction downtown (see below).

Supply and competition

Source: Redfin, ZIP 07601, rolling three-month windows.

In the city series, months of supply averaged 3.4 in the year to May 2024, 3.6 the next year and 4.2 in the year to May 2026; for condos alone, 3.0, 3.8 and 4.4. The share of listings with a price cut averaged 6.2%, 9.5% and 9.7%. Hackensack has moved from multiple-offer conditions toward a balanced market. The inventory high so far was the window ending September 2025, with 134 new listings and 118 active homes.

What a budget buys

Hackensack is the Bergen County seat and a renter-majority city: only 36.6% of housing units were owner-occupied in 2024, according to Census ACS figures compiled by Data USA. What trades:

• Condos and co-ops, with medians between $275,000 and $331,000 in every window since mid-2023. Financing, subletting rules and monthly charges differ building by building.
• Single-family houses, with medians of $550,000 to $680,000 in the last year of windows; the May 2026 median list price was $628,000.
• Two- to four-family buildings, with medians of $660,000 to $910,000 over the last 12 windows and 34 recorded sales in the latest year, up from 25.
• Townhouses, rare: five recorded sales in 12 months.

Source: Redfin. The windows differ, so compare levels, not exact gaps.

Per square foot, Hackensack houses sell at about 81% of the county level and condos at about 86%. Most of the gap between the medians comes from mix and unit size.

Cost of ownership

Property tax

Hackensack's 2025 general tax rate was 3.209 per $100 of assessed value and its effective rate 2.527%, according to the NJ Division of Taxation. The state's 2025 average residential statistics list an average assessment of $321,205 and an average bill of $10,307 ($321,205 × 3.209%). The ratio of the two rates, about 79%, implies the average assessed home is worth roughly $408,000 at market.

At the 2.527% effective rate, estimated annual taxes on the May 2026 medians are about $7,960 for a $315,000 condo, $9,600 at $380,000 and $17,180 for a $680,000 house. Actual bills depend on the assessment on file.

A reassessment is coming. According to a Prodigy Real Estate summary of Bergen County revaluation actions, the county Board of Taxation recommended Hackensack for a revaluation targeting tax year 2027. A revaluation does not change the total levy, but it shifts it between properties. Since house values have risen faster than condo values, house owners could see a larger share. Confirm the status with the city assessor. Eligible owners and renters can also apply for New Jersey's ANCHOR relief program.

Condo charges and flood

Condo and co-op fees are not in Redfin's data and vary widely; in co-ops they can include property taxes and the building's underlying mortgage. Get the fee, reserve balance and any planned special assessments before comparing costs.

The city's eastern edge follows the Hackensack River. Flood exposure depends on the parcel, so check the address on FEMA's Flood Map Service Center and get an insurance quote during attorney review. Federally regulated lenders require flood insurance in mapped high-risk zones.

Monthly payments and affordability

Principal and interest on a 30-year fixed loan with 20% down, plus estimated tax. Insurance, condo fees and PMI are excluded.

At 7.03%, principal, interest and tax come to about $2,345 a month for the median condo, $2,829 for the all-residential median and $5,062 for the median house. At a 28% housing-cost ratio, that requires incomes of about $100,500, $121,200 and $217,000.

Hackensack's median household income was $84,277 in 2024 (Data USA). Even the median condo is beyond a single median income with 20% down, which helps explain the renter share. Still, the drop from 7.04% to 5.98% cut the condo payment by only $175 a month, small next to taxes and building fees, which may be why the early-2026 dip did not revive condo bidding.

Rent versus buy, and the investor angle

The ACS median gross rent was $1,988 in 2024 (Data USA). It covers all rentals, including long-held units in older buildings, so asking rents in newer buildings are likely higher; current asking rents downtown could not be verified for this article.

Against that benchmark, owning the median condo at 7.03% with 20% down costs about $2,345 a month before fees and insurance, plus a $63,000 down payment and closing costs up front. Owning builds equity and fixes the payment, but with condo prices flat for two years, buyers planning to stay five years or more are better placed than those who may move in two.

For two- to four-family buildings, take the $780,000 median with 25% down at 7.03%: principal and interest are about $3,904 a month ($46,846 a year), and tax at the effective rate about $19,700. That is roughly $66,550 a year before insurance, repairs, water, sewer and vacancy.

• A two-family renting both units at $1,988 grosses $47,712 a year, well short of those costs. It works as an owner-occupied home where one unit's rent offsets the payment, not as a pure rental.
• A three-family at the same rent grosses $71,568, about $5,000 above loan and tax costs before any other expense.

Actual rents vary by building. Check current leases, local rent rules and the certificate of occupancy. Multi-family sales rose from 25 to 34 in the latest year, yet in the May 2026 window sale-to-list was 99.0% and median days on market 122, so buyers are pricing these buildings carefully.

Downtown redevelopment and supply pipeline

The city adopted a Downtown Rehabilitation Plan in 2012 and has amended it repeatedly. According to the plan documents, it adds zoning flexibility, lowers parking ratios and encourages mixed-use, walkable development. The city's recent redevelopment plans, including the amended 132-148 Main Street plan, state that more than 3,000 downtown residential units are completed or under construction and another 2,000 are in planning and approval. Plan areas are listed on the city's redevelopment page.

Main Street was converted from one-way to two-way traffic, with streetscaping and sewer separation underneath, financed with about $7.7 million in NJ Infrastructure Bank loans and completed in 2020.

For resale owners, the pipeline cuts two ways:

• Competition. New apartments give a would-be buyer of an older condo the option of leasing a newer unit instead. This is a plausible, not proven, reason condo bidding cooled while house prices did not.
• Services. Thousands more residents near Main Street and the train stations can support more shops and restaurants, which tends to help homes within walking distance, if the retail follows.

The city's adopted Fourth Round Housing Element and Fair Share Plan is on file with the NJ courts; buyers near named sites can read it to see what may be built nearby.

Jobs, schools and transportation

Hackensack University Medical Center, part of Hackensack Meridian Health, is an 803-bed teaching hospital and was Bergen County's largest employer as of 2021, with about 9,000 employees (Wikipedia; HMH). With the county courthouse and government offices, it gives the city a weekday employment base that supports rental and lower-priced condo demand.

The city runs its own district, Hackensack Public Schools, through Hackensack High School. Published ratings vary by source; New Jersey's School Performance Reports are the most reliable place to check test results and graduation rates.

Bergen County Academies, at 200 Hackensack Avenue, is not part of the city district. It is a tuition-free county magnet high school in the Bergen County Technical Schools system, open to students from anywhere in the county through a competitive application with a test and, for those who advance, an interview. Living in Hackensack gives no admission advantage, only a shorter trip.

Downtown has two stations on NJ Transit's Pascack Valley Line, Essex Street and Anderson Street. Trains run to Hoboken; riders for New York Penn Station transfer at Secaucus Junction. Check the current timetable, since trip times vary by train. The city also has a downtown bus terminal. Walking distance to a station or the terminal matters here, particularly for renters and for buyers who want to commute without a car.

How Hackensack compares with nearby towns

Source: Redfin ZIP series. Ridgefield and Wood-Ridge have fewer than 30 sales per window, so their medians are volatile.

• Fort Lee is the closest match as a condo market. Its condos cost more per square foot ($456 versus $362) and sell more slowly (24% above list, median about 114 days), but its condo median rose from $300,000 to $355,000 over two years while Hackensack's stayed flat.
• Ridgefield sales are mostly single-family and two- to four-family homes; Wood-Ridge sales are split between single-family houses and townhouses. Against houses there at $727,500 and $825,000, a Hackensack house at $680,000 offers a lower price per square foot ($388 versus $460 and $407) and more listings to choose from (32 active versus 10 and 14). Compare taxes and school data address by address.

Strategy for buyers

1. Condo buyers have leverage. With 33% selling above list, an average close at 99.8% of asking and about 4.4 months of supply, offers below list are reasonable on units that have sat. Spend the effort on building finances; a low price with a thin reserve fund can cost more later.
2. House buyers still compete. 59% of houses sold above list in the latest window, though inventory of 32 versus 20 a year earlier gives more choice.
3. Budget for the revaluation. Estimate tax at 2.527% of your price, not the seller's current bill.
4. Plan on today's rate. At 7.03%, each $10,000 borrowed adds about $67 a month. Refinancing later is possible, not assured.

Strategy for sellers

1. Condo sellers should price to recent sales. Medians have stayed in a narrow band for two years and buyers are no longer paying over list. With about one listing in ten taking a cut, pricing right at launch usually costs less than cutting later.
2. House sellers still have an edge, but it is narrowing. $388 per square foot is a reasonable reference; the median house took 87 days to sell in the latest window, up from 61 in the April window, so pricing above recent sales risks a longer wait.
3. Multi-family sellers should document rents and expenses, since buyers are running the math above.
4. Timing. New listings peak in spring and early fall (134 in the window ending September 2025). Listing early in a season means less competing supply.

Outlook for the next 6 to 12 months

Since May, the 30-year rate has climbed from 6.49% in late June to 7.03% on September 24, the first reading above 7% since January 2025. The last time rates were this high, Hackensack's sale-to-list fell below 100% and median days on market reached 95 to 97.

If rates stay near 7%, the data points toward flat or slightly lower condo prices, longer marketing times and more price cuts. House prices look more likely to hold than to keep rising at the recent pace while the added inventory clears.

What would change this view:

• A sustained move toward 6%. Early 2026 showed that lower rates alone did not revive condo bidding, but a lasting decline would help house buyers most.
• The pace of new apartment openings. If deliveries slow and rents rise, buying an older condo looks better next to renting a new unit.
• The 2027 revaluation. A large tax shift toward houses could weigh on house prices.
• Inventory. Active listings well above the 115 to 118 highs seen so far would signal more price pressure.

FAQ

What is the median home price in Hackensack in 2026?

For ZIP 07601, $380,000 for March to May 2026: condos and co-ops $315,000, houses $680,000, two- to four-family buildings $780,000 (Redfin).

Are Hackensack condo prices rising?

Not meaningfully: $305,000 two years ago and $315,000 now, with fewer sales and far fewer over-list sales.

How much are property taxes in Hackensack?

The 2025 effective rate was 2.527%, about $7,960 a year on a $315,000 condo and $17,180 on a $680,000 house. A revaluation for tax year 2027 has been recommended.

Does living in Hackensack help with Bergen County Academies admission?

No. It is a county magnet school; applicants from every Bergen County town go through the same competitive process.

Sources

• Redfin Data Center: ZIP 07601, Hackensack city, Bergen County, and ZIPs 07024, 07657, 07075, data through May 2026
• Freddie Mac Primary Mortgage Market Survey
• NJ Division of Taxation, 2025 General Tax Rates
• NJ Division of Taxation, 2025 Average Residential Tax Statistics
• Data USA, Hackensack NJ (Census ACS)
• Prodigy Real Estate, Bergen County revaluation summary
• City of Hackensack, Downtown Rehabilitation Plan
• City of Hackensack, 132-148 Main Street Amended Redevelopment Plan
• City of Hackensack, Redevelopment
• NJ Infrastructure Bank, Hackensack Sewer Separation and Street Conversion
• TAPinto Hackensack, Main Street two-way conversion completed
• Hackensack Fourth Round Housing Element and Fair Share Plan (NJ Courts)
• Wikipedia, Hackensack University Medical Center
• Hackensack Meridian Health, Hackensack University Medical Center
• Bergen County Academies, Guide to Apply
• NJ Department of Education, School Performance Reports
• NJ Transit, Pascack Valley Line
• NJ Transit, Getting to New York by Train
• FEMA Flood Map Service Center