How much is a home worth in ZIP code 07031?

The typical home in 07031 is worth $621,266, based on the Zillow Home Value Index.

Are home values rising in 07031?

Home values in 07031 are up 3.6% over the past year, and up 5.7% a year over five years.

What is the typical rent in 07031?

A typical home in 07031 rents for about $2,453 a month, a gross rental yield of 4.7%.

What is the property tax rate in 07031?

The effective property tax rate in 07031 is 2.3% — roughly $14,016 a year on a typical home.

ZIP code 07031 has a population of 16,461 and a median household income of $94,201.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07031

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

Typical home value

$621,266^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.6%
5-year / yr: +5.7%
10-year / yr: +5.8%

Relative price

vs U.S.: +118.7%
vs metro: -14.8%
vs state: +9.1%

Price history

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

The typical home in 07031 is worth $621,266 — 14.8% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 3.6%. Homes here rent for a typical $2,453 a month — a 4.7% gross rental yield. The effective property tax rate is 2.3%.

#Rent & investment

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

Monthly rent: $2,453^[2]
Gross yield: 4.7%^[2]
Cap rate: 2.8%^[2]

#Property tax

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

Effective tax rate: 2.3%^[3]
Typical annual tax: $14,016^[3]

#Climate risk

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

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

#Who lives here

Population: 16,461^[3]
Median household income: $94,201^[3]

#Migration

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

Net migration: -2,294^[5]
Moved in: 22,624
Moved out: 24,918

Schools

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

Public schools: 6
Elementary: 4
Middle: 1
High: 1

North Arlington High School
High · Grades 9–12 · North Arlington School District
645 students
Veterans Middle School
Middle · Grades 6–8 · North Arlington School District
458 students
George Washington Elementary School
Elementary · Grades PK–5 · North Arlington School District
330 students
Susan B. Anthony Elementary School
Elementary · Grades PK–5 · North Arlington School District
310 students
Thomas Jefferson Elementary School
Elementary · Grades K–5 · North Arlington School District
169 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 yield4.7%

Net yield (after ~40% expenses)2.8%

Annual rent$29,433

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$3,141

Loan principal$497,013

Down payment$124,253

Total interest paid$633,913

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 ratio1.97

Monthly cost to own$4,829

Monthly rent$2,453

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: 40th percentile^[1]
Rental yield: 39th percentile^[2]
Property tax: 89th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07031?: The typical home in 07031 is worth $621,266, based on the Zillow Home Value Index.
Are home values rising in 07031?: Home values in 07031 are up 3.6% over the past year, and up 5.7% a year over five years.
What is the typical rent in 07031?: A typical home in 07031 rents for about $2,453 a month, a gross rental yield of 4.7%.
What is the property tax rate in 07031?: The effective property tax rate in 07031 is 2.3% — roughly $14,016 a year on a typical home.
Who lives in 07031?: ZIP code 07031 has a population of 16,461 and a median household income of $94,201.

#Comparable ZIPs

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

07718 vs 07031 →
Belford CDP, NJ
Typical home
$620,979
Gross yield
—
11779 vs 07031 →
Ronkonkoma CDP, NY
Typical home
$621,680
Gross yield
5.4%
11360
New York, NY
Typical home
$621,750
Gross yield
5.6%
07435
Newfoundland CDP, NJ
Typical home
$622,087
Gross yield
—
07644
Lodi, NJ
Typical home
$620,312
Gross yield
4.5%
11757
Lindenhurst, NY
Typical home
$619,891
Gross yield
5.5%

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Pit ZIP 07031 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · NJ07031

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