How much is a home worth in ZIP code 07003?

The typical home in 07003 is worth $599,948, based on the Zillow Home Value Index.

Are home values rising in 07003?

Home values in 07003 are up 2.3% over the past year, and up 5.7% a year over five years.

What is the typical rent in 07003?

A typical home in 07003 rents for about $2,450 a month, a gross rental yield of 4.9%.

What is the property tax rate in 07003?

The effective property tax rate in 07003 is 2.4% — roughly $14,654 a year on a typical home.

ZIP code 07003 has a population of 53,771 and a median household income of $103,663.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07003

Essex County · New York-Newark-Jersey City, NY-NJ

Typical home value

$599,948^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.3%
5-year / yr: +5.7%
10-year / yr: +7.0%

Relative price

vs U.S.: +111.2%
vs metro: -17.8%
vs state: +5.3%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 07003 is worth $599,948 — 17.8% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 2.3%. Homes here rent for a typical $2,450 a month — a 4.9% gross rental yield. The effective property tax rate is 2.4%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,450^[2]
Gross yield: 4.9%^[2]
Cap rate: 2.9%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 2.4%^[3]
Typical annual tax: $14,654^[3]

#Climate risk

FEMA National Risk Index ratings for Essex County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: Relatively Moderate
Wildfire: Very Low
Drought: Very Low
Heat wave: Relatively High
Hurricane: Relatively Moderate
Tornado: Relatively High
Earthquake: Relatively Moderate
Winter weather: Very High

#Who lives here

Population: 53,771^[3]
Median household income: $103,663^[3]

#Migration

Household moves in and out of Essex County over a year, from IRS tax-return data.

Net migration: -3,761^[5]
Moved in: 19,593
Moved out: 23,354

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 11
Elementary: 8
Middle: 1
High: 1

Bloomfield High School
High · Grades 9–12 · Bloomfield Township School District
2,037 students
Bloomfield Middle School
Middle · Grades 7–8 · Bloomfield Township School District
929 students
Fairview Elementary School
Elementary · Grades PK–6 · Bloomfield Township School District
500 students
Demarest Elementary School
Elementary · Grades K–6 · Bloomfield Township School District
483 students
Berkeley Elementary School
Elementary · Grades K–6 · Bloomfield Township School District
467 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.9%

Net yield (after ~40% expenses)2.9%

Annual rent$29,394

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$3,034

Loan principal$479,958

Down payment$119,990

Total interest paid$612,160

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.94

Monthly cost to own$4,754

Monthly rent$2,450

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 39th percentile^[1]
Rental yield: 46th percentile^[2]
Property tax: 97th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07003?: The typical home in 07003 is worth $599,948, based on the Zillow Home Value Index.
Are home values rising in 07003?: Home values in 07003 are up 2.3% over the past year, and up 5.7% a year over five years.
What is the typical rent in 07003?: A typical home in 07003 rents for about $2,450 a month, a gross rental yield of 4.9%.
What is the property tax rate in 07003?: The effective property tax rate in 07003 is 2.4% — roughly $14,654 a year on a typical home.
Who lives in 07003?: ZIP code 07003 has a population of 53,771 and a median household income of $103,663.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

07456 vs 07003 →
Ringwood, NJ
Typical home
$599,701
Gross yield
—
10588 vs 07003 →
Shrub Oak CDP, NY
Typical home
$599,509
Gross yield
—
11701
Amityville, NY
Typical home
$599,414
Gross yield
5.7%
10033
New York, NY
Typical home
$599,259
Gross yield
5.6%
08876
Somerville, NJ
Typical home
$600,821
Gross yield
4.8%
10548
Montrose CDP, NY
Typical home
$603,029
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ07003

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