07041 renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in 07041 is about $2,053 per month. This puts it in the 87th percentile compared to the state average cost of rent, which is $1,647. Households in 07041 have a median income of $16,050 per month so the average renter in 07041 is spending roughly 13% of their earnings on housing.
Nationally, and in 07041, home values are the data point most closely correlated with the cost of rent. The median price of a home in 07041 is $802,697 right now, which is higher than nearby zip codes, meaning that rents in 07041 also tend to be higher versus these nearby zip codes.
Higher rent prices are common in the northwestern parts of 07041 while lower rent rates are often available in southwestern areas.
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