How much is a home worth in ZIP code 07103?

The typical home in 07103 is worth $399,610, based on the Zillow Home Value Index.

Are home values rising in 07103?

Home values in 07103 are up 1.5% over the past year, and up 5.0% a year over five years.

What is the typical rent in 07103?

A typical home in 07103 rents for about $2,195 a month, a gross rental yield of 6.6%.

What is the property tax rate in 07103?

The effective property tax rate in 07103 is 1.8% — roughly $7,131 a year on a typical home.

ZIP code 07103 has a population of 37,293 and a median household income of $51,534.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07103

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

Typical home value

$399,610^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.5%
5-year / yr: +5.0%
10-year / yr: +9.3%

Relative price

vs U.S.: +40.7%
vs metro: -45.2%
vs state: -29.8%

Price history

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

The typical home in 07103 is worth $399,610 — 45.2% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 1.5%. Homes here rent for a typical $2,195 a month — a 6.6% 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: $2,195^[2]
Gross yield: 6.6%^[2]
Cap rate: 4.0%^[2]

#Property tax

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

Effective tax rate: 1.8%^[3]
Typical annual tax: $7,131^[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: 37,293^[3]
Median household income: $51,534^[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: 19
Elementary: 10
Middle: 0
High: 7

Marion P. Thomas Charter School
Other · Grades PK–12 · Marion P. Thomas Charter School
1,393 students
Central High School
High · Grades 9–12 · Newark Public School District
826 students
Quitman Street School
Elementary · Grades PK–8 · Newark Public School District
738 students
Philip's Academy Charter School
Elementary · Grades PK–8 · Phillip's Academy Charter School
673 students
West Side High School
High · Grades 9–12 · Newark Public School District
621 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 yield6.6%

Net yield (after ~40% expenses)4.0%

Annual rent$26,345

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$2,021

Loan principal$319,688

Down payment$79,922

Total interest paid$407,745

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 ratio1.34

Monthly cost to own$2,946

Monthly rent$2,195

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: 27th percentile^[1]
Rental yield: 87th percentile^[2]
Property tax: 52nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07103?: The typical home in 07103 is worth $399,610, based on the Zillow Home Value Index.
Are home values rising in 07103?: Home values in 07103 are up 1.5% over the past year, and up 5.0% a year over five years.
What is the typical rent in 07103?: A typical home in 07103 rents for about $2,195 a month, a gross rental yield of 6.6%.
What is the property tax rate in 07103?: The effective property tax rate in 07103 is 1.8% — roughly $7,131 a year on a typical home.
Who lives in 07103?: ZIP code 07103 has a population of 37,293 and a median household income of $51,534.

#Comparable ZIPs

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

07422 vs 07103 →
Highland Lakes CDP, NJ
Typical home
$400,314
Gross yield
—
07419 vs 07103 →
Hamburg, NJ
Typical home
$398,136
Gross yield
—
07102
Newark, NJ
Typical home
$405,287
Gross yield
7.6%
10458
New York, NY
Typical home
$409,958
Gross yield
8.4%
07734
Keansburg, NJ
Typical home
$411,005
Gross yield
7.0%
08087
Mystic Island CDP, NJ
Typical home
$414,947
Gross yield
6.9%

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#Jump to section

U.S. ZIP Code · NJ07103

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