ZIP code 07040: income, home prices and cost of living

The median household income in ZIP 07040 is $165,681, which is 54% above the New Jersey median of $107,307 and 141% above the national figure. The typical home is valued at $638,000, and the median rent is $1,990/month. 77.0% of households own their home.

Source: U.S. Census Bureau, American Community Survey (5-year). Latest observation ACS 2022.

Median household income

$165,681

New Jersey average
$107,30754%
National
$68,750141%

Median home value

$638,000

New Jersey average
$409,60056%
National
$209,600204%

Median gross rent

$1,990

New Jersey average
$1,66020%
National
$984102%

Median age

39.1 yrs

New Jersey average
41.9 yrs7%
National
41.0 yrs5%

Homeownership rate

77.0%

New Jersey average
76.4%
National
75.8%2%

Bachelor's degree or higher

36.1%

New Jersey average
26.9%34%
National
15.9%127%

How ZIP 07040 compares with New Jersey and the U.S.

State and national bars are the median across ZIP Code Tabulation Areas. Source: U.S. Census Bureau, American Community Survey (5-year), 2022.

See today's rates for homes in your area

Homes in 07040 typically sell around $638,000. Compare what a vetted mortgage pro can actually offer you before you commit.

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Nearby ZIP codes in New Jersey

07039070410704207043070360704407035070450703407033

Or compare 07040 with 07039.

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What people search about ZIP 07040

Searches for the cost of living in 07040, the median household income in 07040, average rent in 07040 and home values in this part of New Jersey all come back to the same Census figures shown above. Use them alongside a mortgage payment estimate, a property tax estimate and a household budget before you compare this ZIP code with a neighbouring one.

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Methodology

Figures describe ZIP Code Tabulation Area 07040, the Census Bureau's statistical approximation of the ZIP code. Values are median estimates for the five-year period ending 2022.

State and national benchmarks are the median of all ZCTAs in that geography with at least 1,000 residents, computed by us from the same public dataset.

Sources: U.S. Census Bureau, American Community Survey (5-year). American Community Survey 5-year estimates, 2022.