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These days, finding an affordable place to live in the 08406 area can be challenging. Home prices in 08406 are now at a median cost of $387,146, lower than the New Jersey average of $496,577.
The average cost of rent is $1,387/mo in 08406, primarily driven by the current value of real estate in the 08406 area. In 08406, 37.63% of households rent, and 57.59% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 08406 is $6,305 per month. Households that rent pay about 21.99% of their income on rent here. 08406’s most expensive areas are in the southern 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
- 08402, NJ: higher priced homes
- 08401, NJ: less expensive homes
- 08403, NJ: higher priced homes
- 08232, NJ: less expensive homes
- 08225, NJ: less expensive homes
- 08221, NJ: higher priced homes
- 08201, NJ: less expensive homes
- 08203, NJ: higher priced homes
- 08244, NJ: less expensive homes
- 08234, NJ: less expensive homes
Zip Codes with Similar Populations
- 46278, IN: higher priced homes
- 31087, GA: less expensive homes
- 84701, UT: less expensive homes
- 32179, FL: less expensive homes
- 83672, ID: less expensive homes
- 35085, AL: less expensive homes
- 78942, TX: less expensive homes
- 77554, TX: higher priced homes
- 76567, TX: less expensive homes
- 36853, AL: less expensive homes
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