How much is a home worth in ZIP code 07041?

The typical home in 07041 is worth $1,292,718, based on the Zillow Home Value Index.

Are home values rising in 07041?

Home values in 07041 are up 8.5% over the past year, and up 9.0% a year over five years.

What is the typical rent in 07041?

A typical home in 07041 rents for about $2,898 a month, a gross rental yield of 2.7%.

What is the property tax rate in 07041?

The effective property tax rate in 07041 is 1.6% — roughly $21,296 a year on a typical home.

ZIP code 07041 has a population of 7,532 and a median household income of $202,750.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07041

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

Typical home value

$1,292,718^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +8.5%
5-year / yr: +9.0%
10-year / yr: +6.1%

Relative price

vs U.S.: +355.1%
vs metro: +77.2%
vs state: +127.0%

Price history

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

The typical home in 07041 is worth $1,292,718 — 77.2% above the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 8.5%. Homes here rent for a typical $2,898 a month — a 2.7% gross rental yield. The effective property tax rate is 1.6%.

#Rent & investment

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

Monthly rent: $2,898^[2]
Gross yield: 2.7%^[2]
Cap rate: 1.6%^[2]

#Property tax

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

Effective tax rate: 1.6%^[3]
Typical annual tax: $21,296^[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: 7,532^[3]
Median household income: $202,750^[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: 5
Elementary: 2
Middle: 2
High: 1

Millburn High School
High · Grades 9–12 · Millburn Township School District
1,393 students
Millburn Middle School
Middle · Grades 6–8 · Millburn Township School District
1,119 students
Washington School
Middle · Grades 5 · Millburn Township School District
411 students
Wyoming School
Elementary · Grades K–4 · Millburn Township School District
334 students
South Mountain School
Elementary · Grades PK–4 · Millburn Township School District
285 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 yield2.7%

Net yield (after ~40% expenses)1.6%

Annual rent$34,770

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$6,537

Loan principal$1,034,175

Down payment$258,544

Total interest paid$1,319,033

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 ratio3.24

Monthly cost to own$9,391

Monthly rent$2,898

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: 96th percentile^[1]
Rental yield: 2nd percentile^[2]
Property tax: 43rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07041?: The typical home in 07041 is worth $1,292,718, based on the Zillow Home Value Index.
Are home values rising in 07041?: Home values in 07041 are up 8.5% over the past year, and up 9.0% a year over five years.
What is the typical rent in 07041?: A typical home in 07041 rents for about $2,898 a month, a gross rental yield of 2.7%.
What is the property tax rate in 07041?: The effective property tax rate in 07041 is 1.6% — roughly $21,296 a year on a typical home.
Who lives in 07041?: ZIP code 07041 has a population of 7,532 and a median household income of $202,750.

#Comparable ZIPs

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

07670 vs 07041 →
Tenafly, NJ
Typical home
$1,293,067
Gross yield
—
07090 vs 07041 →
Westfield, NJ
Typical home
$1,292,370
Gross yield
2.6%
11771
Oyster Bay Cove, NY
Typical home
$1,287,009
Gross yield
3.0%
10010
New York, NY
Typical home
$1,298,605
Gross yield
—
11530
Garden City, NY
Typical home
$1,298,722
Gross yield
4.5%
07423
Ho-Ho-Kus, NJ
Typical home
$1,300,881
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ07041

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