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These days, finding an affordable place to live in the 07016 area can be challenging. Home prices in 07016 are now at a median cost of $533,841, higher than the New Jersey average of $388,929.
The average cost of rent is $1,678/mo in 07016, primarily driven by the current value of real estate in the 07016 area. While nearly 35.12% of residents own their homes outright in 07016, 18.56% rent.
Housing affordability isn’t just about home prices, though. The average household income in 07016 is $11,748 per month. Households that rent pay about 14.28% of their income on rent here. 07016's most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the zip.
Nearby Zip Codes
- 07027, NJ: less expensive homes
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- 07066, NJ: equally priced homes
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- 07083, NJ: less expensive homes
Zip Codes with Similar Populations
- 88030, NM: less expensive homes
- 02840, RI: equally priced homes
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