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These days, finding an affordable place to live in the 08240 area can be challenging. Home prices in 08240 are now at a median cost of $295,000, lower than the New Jersey average of $496,577.
The average cost of rent is $1,376/mo in 08240, primarily driven by the current value of real estate in the 08240 area. In 08240, 60.00% of households rent, and 40.02% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 08240 is $6,504 per month. Households that rent pay about 21.16% of their income on rent here. 08240’s most expensive areas are in the central regions, while the cheapest areas are in the central 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
- 08205, NJ: equally priced homes
- 08241, NJ: higher priced homes
- 08215, NJ: equally priced homes
- 08201, NJ: equally priced homes
- 08232, NJ: less expensive homes
- 08224, NJ: higher priced homes
- 08234, NJ: equally priced homes
- 08225, NJ: equally priced homes
- 08330, NJ: less expensive homes
- 08203, NJ: higher priced homes
Zip Codes with Similar Populations
- 85926, AZ: less expensive homes
- 08095, NJ: equally priced homes
- 25132, WV: less expensive homes
- 76852, TX: less expensive homes
- 77615, TX: less expensive homes
- 28575, NC: higher priced homes
- 28520, NC: equally priced homes
- 56249, MN: less expensive homes
- 26814, WV: less expensive homes
- 26271, WV: less expensive homes
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