How much is a home worth in ZIP code 07008?

The typical home in 07008 is worth $551,751, based on the Zillow Home Value Index.

Are home values rising in 07008?

Home values in 07008 are up 5.1% over the past year, and up 7.3% a year over five years.

What is the typical rent in 07008?

A typical home in 07008 rents for about $2,418 a month, a gross rental yield of 5.3%.

What is the property tax rate in 07008?

The effective property tax rate in 07008 is 1.8% — roughly $9,773 a year on a typical home.

ZIP code 07008 has a population of 25,526 and a median household income of $97,021.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07008

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

Typical home value

$551,751^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +5.1%
5-year / yr: +7.3%
10-year / yr: +8.1%

Relative price

vs U.S.: +94.2%
vs metro: -24.4%
vs state: -3.1%

Price history

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

The typical home in 07008 is worth $551,751 — 24.4% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 5.1%. Homes here rent for a typical $2,418 a month — a 5.3% gross rental yield. The effective property tax rate is 1.8%.

#Rent & investment

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

Monthly rent: $2,418^[2]
Gross yield: 5.3%^[2]
Cap rate: 3.2%^[2]

#Property tax

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

Effective tax rate: 1.8%^[3]
Typical annual tax: $9,773^[3]

#Climate risk

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

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

#Who lives here

Population: 25,526^[3]
Median household income: $97,021^[3]

#Migration

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

Net migration: -3,628^[5]
Moved in: 21,716
Moved out: 25,344

Schools

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

Public schools: 6
Elementary: 3
Middle: 2
High: 1

Carteret High School
High · Grades 9–12 · Carteret Public School District
1,182 students
Columbus Elementary School
Elementary · Grades PK–4 · Carteret Public School District
625 students
Carteret Junior High School
Middle · Grades 7–8 · Carteret Public School District
586 students
Carteret Middle School
Middle · Grades 5–6 · Carteret Public School District
567 students
Private Nicholas Minue Elementary School
Elementary · Grades PK–4 · Carteret Public School District
527 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 yield5.3%

Net yield (after ~40% expenses)3.2%

Annual rent$29,011

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$2,790

Loan principal$441,401

Down payment$110,350

Total interest paid$562,982

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 ratio1.68

Monthly cost to own$4,064

Monthly rent$2,418

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: 79th percentile^[1]
Rental yield: 61st percentile^[2]
Property tax: 51st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07008?: The typical home in 07008 is worth $551,751, based on the Zillow Home Value Index.
Are home values rising in 07008?: Home values in 07008 are up 5.1% over the past year, and up 7.3% a year over five years.
What is the typical rent in 07008?: A typical home in 07008 rents for about $2,418 a month, a gross rental yield of 5.3%.
What is the property tax rate in 07008?: The effective property tax rate in 07008 is 1.8% — roughly $9,773 a year on a typical home.
Who lives in 07008?: ZIP code 07008 has a population of 25,526 and a median household income of $97,021.

#Comparable ZIPs

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

10805 vs 07008 →
New Rochelle, NY
Typical home
$552,178
Gross yield
6.5%
07442 vs 07008 →
Pompton Lakes, NJ
Typical home
$551,267
Gross yield
—
11224
New York, NY
Typical home
$552,372
Gross yield
7.2%
07878
Mount Tabor CDP, NJ
Typical home
$550,819
Gross yield
—
11377
New York, NY
Typical home
$550,792
Gross yield
6.3%
07403
Bloomingdale, NJ
Typical home
$549,771
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ07008

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