Latest available · Census ACS 5-Year (2024)
What Is the Average Rent in ZCTA5 07108, New Jersey?
ZIP code · Census ACS 5-Year estimates
The median gross rent in ZCTA5 07108, New Jersey (ZIP 07108) is $1,131/month (±$170), based on Census ACS 5-Year estimates (2024). The median home value is $399,400 (±$38,859), and the median household income is $36,200/year. The unemployment rate in Essex County, New Jersey was 4.9% as of April 2026 (preliminary). Source: U.S. Census Bureau, American Community Survey, 2024 5-Year Estimates.
Housing Metrics for ZIP 07108
| Metric | Value |
|---|---|
| Median Gross Rent | $1,131 |
| Median Home Value | $399,400 |
| Median Household Income | $36,200 |
| Total Housing Units | 11,383 |
| Renter-Occupied Units | 9,221 |
| Renter-Occupied Share | 81% |
| Households Paying 50%+ Income | 2,761 households |
| Unemployment Rate(April 2026) | 4.9% |
How does ZIP 07108 compare?
Median gross rent ranked against all ZIP codes in New Jersey.
Higher rent than 4% of ZIP codes in New Jersey · 497th of 517
| # | ZIP code | Value |
|---|---|---|
| 1 | ZCTA5 07310 | $3,501 |
| 1 | ZCTA5 07632 | $3,501 |
| 1 | ZCTA5 07627 | $3,501 |
| … 493 more … | ||
| 497 | ZCTA5 07108(you are here) | $1,131 |
| … 17 more … | ||
| 515 | ZCTA5 07440 | $950 |
| 516 | ZCTA5 07730 | $874 |
| 517 | ZCTA5 07738 | $685 |
Geography
ZIP 07108 is in Essex County, New Jersey.
It covers part of Newark city, New Jersey.
More data for ZCTA5 07108
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Frequently asked questions
What is the average rent in ZCTA5 07108, New Jersey?
The median gross rent in ZCTA5 07108, New Jersey (ZIP 07108) is $1,131/month, based on Census ACS 5-Year estimates (2024). Gross rent includes contract rent plus utilities. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the average rent for a 2-bedroom in ZCTA5 07108, New Jersey?
The median rent for a 2-bedroom in ZCTA5 07108, New Jersey is not available based on Census ACS 5-Year estimates (2024). Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024.
What is the median home value in ZCTA5 07108, New Jersey?
The median home value in ZCTA5 07108, New Jersey (ZIP 07108) is $399,400 according to Census ACS 5-Year estimates (2024).
What percentage of renters in ZCTA5 07108 are rent-burdened?
In ZCTA5 07108, New Jersey, 2,761 households pay 50% or more of their income for rent. A household is considered rent-burdened when it spends more than 30% of income on housing costs.
What is the median household income in ZCTA5 07108, New Jersey?
The median household income in ZCTA5 07108, New Jersey is $36,200/year according to Census ACS 5-Year estimates (2024).
How reliable is Census ACS data for small areas?
The ACS 5-Year estimates combine 60 months of data for more reliable figures in smaller geographies. Each estimate has a margin of error (MOE). For example, the median rent of $1,131 has a margin of error of ±$170. In very small areas, MOEs can be large relative to the estimate.
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