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Affordable
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These days, finding an affordable place to live in the 07416 area can be challenging. Home prices in 07416 are now at a median cost of $295,922, lower than the New Jersey average of $496,577.
The average cost of rent is $1,395/mo in 07416, primarily driven by the current value of real estate in the 07416 area. In 07416, 38.75% of households rent, and 33.18% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 07416 is $7,603 per month. Households that rent pay about 18.35% of their income on rent here. 07416’s most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern 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
- 07419, NJ: higher priced homes
- 07439, NJ: higher priced homes
- 07460, NJ: higher priced homes
- 07848, NJ: higher priced homes
- 07822, NJ: higher priced homes
- 07462, NJ: equally priced homes
- 07871, NJ: higher priced homes
- 07438, NJ: higher priced homes
- 07461, NJ: higher priced homes
- 07422, NJ: equally priced homes
Zip Codes with Similar Populations
- 60942, IL: less expensive homes
- 97913, OR: less expensive homes
- 97467, OR: less expensive homes
- 01773, MA: higher priced homes
- 02537, MA: higher priced homes
- 02642, MA: higher priced homes
- 25320, WV: less expensive homes
- 02817, RI: higher priced homes
- 95969, CA: higher priced homes
- 03222, NH: equally priced homes
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