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Affordable
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These days, finding an affordable place to live in the 07940 area can be challenging. Home prices in 07940 are now at a median cost of $965,827, higher than the New Jersey average of $496,577.
The average cost of rent is $2,291/mo in 07940, primarily driven by the current value of real estate in the 07940 area. In 07940, 36.20% of households rent, and 34.37% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 07940 is $13,954 per month. Households that rent pay about 16.41% of their income on rent here. 07940’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
- 07932, NJ: less expensive homes
- 07935, NJ: higher priced homes
- 07928, NJ: higher priced homes
- 07976, NJ: higher priced homes
- 07901, NJ: higher priced homes
- 07981, NJ: less expensive homes
- 07960, NJ: less expensive homes
- 07974, NJ: less expensive homes
- 07927, NJ: less expensive homes
- 07936, NJ: less expensive homes
Zip Codes with Similar Populations
- 95519, CA: less expensive homes
- 95366, CA: less expensive homes
- 37090, TN: less expensive homes
- 07746, NJ: less expensive homes
- 63034, MO: less expensive homes
- 34446, FL: less expensive homes
- 44647, OH: less expensive homes
- 44830, OH: less expensive homes
- 45895, OH: less expensive homes
- 46013, IN: less expensive homes
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