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These days, finding an affordable place to live in the 07407 area can be challenging. Home prices in 07407 are now at a median cost of $474,385, lower than the New Jersey average of $496,577.
The average cost of rent is $2,096/mo in 07407, primarily driven by the current value of real estate in the 07407 area. In 07407, 42.52% of households rent, and 42.75% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 07407 is $8,583 per month. Households that rent pay about 24.42% of their income on rent here. 07407’s most expensive areas are in the southern regions, while the cheapest areas are in the northern parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 07663, NJ: higher priced homes
- 07504, NJ: less expensive homes
- 07513, NJ: less expensive homes
- 07514, NJ: less expensive homes
- 07410, NJ: higher priced homes
- 07026, NJ: equally priced homes
- 07503, NJ: less expensive homes
- 07662, NJ: higher priced homes
- 07011, NJ: less expensive homes
- 07524, NJ: less expensive homes
Zip Codes with Similar Populations
- 10543, NY: higher priced homes
- 15239, PA: less expensive homes
- 90732, CA: higher priced homes
- 95620, CA: higher priced homes
- 34114, FL: higher priced homes
- 33566, FL: less expensive homes
- 53005, WI: less expensive homes
- 14072, NY: less expensive homes
- 84054, UT: higher priced homes
- 63501, MO: less expensive homes
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