I am seeking to re-establish my research career after a 7-year career break. The first step involves submitting a paper to a peer reviewed journal which reports a study that was conducted 7 years ago. In the cover letter to editors that I have prepared, I point out that the topic remains timely, and I provide relevant references to illustrate this (which have also been used to update the paper).
Because I am not currently affiliated with an academic institution, I don’t have a university address to provide in the contact information section during the manuscript submission process. Any thoughts on whether this will affect my acceptance chances? Should I provide my current home address instead?
Just list your affiliation as "independent researcher" and use a valid email address that you expect to maintain. You should be fine. Scholarship isn't for employed academics only. It is the quality of the work that matters most.
The only block I could see is if your research requires Ethics Board (such as IRB in the US) prior approval.
For the submission process any physical address will probably do if it is required. But for final versions to be published I would seek advice from the editor. Perhaps a post box would be preferred to a residence.
You can write "Independent scholar" as affiliation, and use your home address to the extent to which this information is required and you feel comfortable providing it. If the editor is doing his job properly, then they should have an understanding for your situation, and your affiliation should not affect the chances for acceptance.