Home Insurance in Newark, New Jersey
Homes in Newark carry a median value of $373,700 - 29% lower than the Essex County median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Newark was built around 1966. About 43% of homes were built before 1960, about 10 points below Essex County's 53%.
In Newark, the housing stock is 23% single-family homes and 36% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Newark, about 68% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 24% of occupied homes in Newark are owner-occupied.
Most homes in Newark - 68% - are primarily heated with natural gas.
Essex County's top FEMA-rated hazard is inland flooding (Relatively High), per FEMA's National Risk Index. Essex County had 4,122 active NFIP flood policies as of September 2026. See the full Essex County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In New Jersey, the statewide average premium for a standard HO-3 homeowners policy is $1,551 per year (NAIC, 2023 data).
Key figures
| Median home value | $373,700 |
|---|---|
| Median year built | 1966 |
| Owner-occupied share | 24% |
| Share of owner-occupied homes with a mortgage | 68% |
| Top county hazard | Inland Flooding (Relatively High) |
| Active NFIP policies in Essex County | 4,122 |
| Home insurance premium | $1,551 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)