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Affordable
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These days, finding an affordable place to live in the 08551 area can be challenging. Home prices in 08551 are now at a median cost of $637,219, higher than the New Jersey average of $496,577.
The average cost of rent is $1,874/mo in 08551, primarily driven by the current value of real estate in the 08551 area. In 08551, 10.62% of households rent, and 31.73% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 08551 is $16,109 per month. Households that rent pay about 11.64% of their income on rent here. 08551’s most expensive areas are in the northwestern regions, while the cheapest areas are in the western 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
- 08822, NJ: less expensive homes
- 08525, NJ: less expensive homes
- 08559, NJ: equally priced homes
- 08887, NJ: less expensive homes
- 08530, NJ: equally priced homes
- 08853, NJ: higher priced homes
- 08558, NJ: higher priced homes
- 08534, NJ: equally priced homes
- 08821, NJ: higher priced homes
- 08560, NJ: less expensive homes
Zip Codes with Similar Populations
- 71232, LA: less expensive homes
- 48808, MI: less expensive homes
- 48655, MI: less expensive homes
- 50047, IA: less expensive homes
- 38483, TN: less expensive homes
- 35042, AL: less expensive homes
- 61873, IL: less expensive homes
- 62243, IL: less expensive homes
- 63461, MO: less expensive homes
- 68066, NE: less expensive homes
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