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Sarah Mitchell
Compass Real Estate · ZIP 07054
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07054 ZIP Code Housing Market
$782,500median sale price
What is the 07054 housing market like right now?
The median home sale price in ZIP code 07054 is $782,500, up 8.3% year-over-year. Homes sell in an average of 20 days with 22 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 07054 ZIP code a buyer's or seller's market?
ZIP code 07054 is currently a seller's market and homes selling in about 20 days. How we determine this →
What are the latest 07054 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $782,500 |
| Median list price | $757,000 |
| Year-over-year price change | +8.3% |
| Average days on market | 20 days |
| Active inventory | 22 listings |
| Sale-to-list price ratio | 104.4% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
The 07054 zip code, located in Troy Hills, NJ, is currently classified as a seller's market. The median sale price stands at $782,500, representing a +8.3% change year over year. Homes in this area spend an average of 20 days on the market before going under contract. There are currently 22 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 07054 sits in the Troy Hills, NJ area, roughly 0.3 miles from downtown Troy Hills. Because home prices are set street by street, this ZIP can move differently from Troy Hills's citywide averages. The figures below reflect 07054 specifically — drawn from Redfin transactions, U.S. Census data for its 29,480 residents, and Zillow value estimates.
Homes sold
30
Last 12 weeks
Days on market
20
Fast-moving
Active listings
22
Sale-to-list
104.4%
Above asking
What is driving the 07054 housing market?
The 07054 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a seller's market, homes are selling at approximately 104.4% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 07054 have increased +8.3% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 07054 stands at $743,410, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,900 per month. This gives a price-to-rent ratio of approximately 21.4, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 07054?
Population
29,480
Median income
$104,214/yr
Median age
41.8 years
Owner-occupied
49.7%
College grads
61.4%
Avg commute
28.41 min
What is it like living in 07054?
Zip code 07054 is home to approximately 29,480 residents. The median household income is $104,214 per year, which shapes the types of homes and amenities available in the area. With a median age of 41.8 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 49.7% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 61.4% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 28.41 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 07054.
Which public schools serve ZIP 07054?
8 schools tracked · 4,252 students
The largest public schools serving ZIP code 07054 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Brooklawn Middle School
Grades 6-8 · 942 students
Parsippany High School
Grades 9-12 · 937 students
Central Middle School
Grades 6-8 · 731 students
Eastlake Elementary School
Grades PK-5 · 396 students
Northvail Elementary School
Grades K-5 · 392 students
Lake Parsippany Elementary School
Grades K-5 · 301 students
Troy Hills Elementary School
Grades K-5 · 294 students
Rockaway Meadow Elementary School
Grades K-5 · 259 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 07054
What is the median home price in 07054?
The current median sale price in 07054 is $782,500, based on recent Redfin transaction data. Prices have changed +8.3% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 07054 a buyer's or seller's market?
The 07054 zip code is currently classified as a seller's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 07054?
Zip code 07054 has a population of approximately 29,480 residents. The median household income is $104,214 per year. About 49.7% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 07054?
Properties Incorporated provides comprehensive data for 07054 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 07054 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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