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These days, finding an affordable place to live in the 07040 area can be challenging. Home prices in 07040 are now at a median cost of $548,643, higher than the New Jersey average of $388,929.
The average cost of rent is $2,305/mo in 07040, primarily driven by the current value of real estate in the 07040 area. While nearly 23.44% of residents own their homes outright in 07040, 21.54% rent.
Housing affordability isn’t just about home prices, though. The average household income in 07040 is $13,182 per month. Households that rent pay about 17.49% of their income on rent here. 07040's most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the zip.
Nearby Zip Codes
- 07088, NJ: less expensive homes
- 07079, NJ: equally priced homes
- 07111, NJ: less expensive homes
- 07106, NJ: less expensive homes
- 07041, NJ: higher priced homes
- 07083, NJ: less expensive homes
- 07205, NJ: less expensive homes
- 07112, NJ: less expensive homes
- 07018, NJ: less expensive homes
- 07078, NJ: higher priced homes
Zip Codes with Similar Populations
- 01867, MA: higher priced homes
- 07860, NJ: less expensive homes
- 11795, NY: equally priced homes
- 64138, MO: less expensive homes
- 70005, LA: less expensive homes
- 48348, MI: less expensive homes
- 44460, OH: less expensive homes
- 30291, GA: less expensive homes
- 30241, GA: less expensive homes
- 30021, GA: less expensive homes
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