Draft_October 2025_West Orange_HEFSP_with Appendices

Township of West Orange October 2025 Essex County, New Jersey Draft Housing Element and Fair Share Plan ------------------------------------------------------------------------------------------------------------------------------------------------------------- As shown in Table 18 below, it is estimated that 8,171 (66.7%) of owner-occupied units in the Township were financed by a primary mortgage, contract to purchase, or similar debt. Of those units, 89.3% did not have any additional lines of credit associated with the unit, while 6.4% were associated with a home equity loan, 0.4% were associated with both a second mortgage and a home equity loan, 2.6% were associated with a home equity loan without a primary mortgage, and 1.3% were associated with just a second mortgage. There were slightly more owner-occupied housing units with a mortgage at the County level; more specifically, 69.1% of such units had a primary mortgage. Of those units in the County tied to a primary mortgage, 87.2% did not have any additional lines of credit associated with the unit, while 7.5% were associated with a home equity loan, 1.3% were associated with a second mortgage, 0.8% were associated with both a second mortgage and a home equity loan, and 3.1% were associated with a home equity loan without a primary mortgage. Table 18: Mortgage Status, 2023 West Orange and Essex County West Orange Total Owner-Occupied Units Owner-Occupied Housing Units with a Mortgage With multiple mortgages: Mortgage with both second mortgage and home equity loan Home equity loan only Second mortgage only No second mortgage and no home equity loan Home equity loan without a primary mortgage Owner-Occupied Housing units without a mortgage Essex County Number % of Total Units 12,244 8,171 657 100.00% 66.7% 5.4% % of Units with Mortgage 100.00% 8.0% 30 - 524 103 7,300 214 4,073 59.6% 1.7% 33.3% Source: 2023 American Community Survey 5-Year Estimates, Table B25081 27 Number % of Total Units 146,736 101,404 9,805 100.00% 69.1% 6.7% % of Units with Mortgage 100.00% 9.7% 0.4% 852 - 0.8% 6.4% 1.3% 89.3% 2.6% - 7,587 1,366 88,461 3,138 45,332 60.3% 2.1% 30.9% 7.5% 1.3% 87.2% 3.1% -