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Affordable
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These days, finding an affordable place to live in the 08016 area can be challenging. Home prices in 08016 are now at a median cost of $332,424, lower than the New Jersey average of $496,577.
The average cost of rent is $1,442/mo in 08016, primarily driven by the current value of real estate in the 08016 area. In 08016, 26.70% of households rent, and 33.37% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 08016 is $8,917 per month. Households that rent pay about 16.17% of their income on rent here. 08016’s most expensive areas are in the eastern regions, while the cheapest areas are in the northwestern 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
- 19007, PA: less expensive homes
- 08046, NJ: less expensive homes
- 19021, PA: equally priced homes
- 08010, NJ: less expensive homes
- 08073, NJ: less expensive homes
- 08518, NJ: equally priced homes
- 08554, NJ: less expensive homes
- 08060, NJ: equally priced homes
- 19057, PA: equally priced homes
- 19055, PA: equally priced homes
Zip Codes with Similar Populations
- 92883, CA: higher priced homes
- 85048, AZ: higher priced homes
- 95377, CA: higher priced homes
- 53207, WI: less expensive homes
- 03038, NH: higher priced homes
- 33462, FL: higher priced homes
- 15235, PA: less expensive homes
- 13027, NY: less expensive homes
- 11510, NY: higher priced homes
- 98683, WA: higher priced homes
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