How much is a home worth in ZIP code 07203?

The typical home in 07203 is worth $509,929, based on the Zillow Home Value Index.

Are home values rising in 07203?

Home values in 07203 are up 1.2% over the past year, and up 7.8% a year over five years.

What is the typical rent in 07203?

A typical home in 07203 rents for about $2,464 a month, a gross rental yield of 5.8%.

What is the property tax rate in 07203?

The effective property tax rate in 07203 is 2.8% — roughly $14,110 a year on a typical home.

ZIP code 07203 has a population of 22,646 and a median household income of $92,762.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07203

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

Typical home value

$509,929^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.2%
5-year / yr: +7.8%
10-year / yr: +11.7%

Relative price

vs U.S.: +79.5%
vs metro: -30.1%
vs state: -10.5%

Price history

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

The typical home in 07203 is worth $509,929 — 30.1% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 1.2%. Homes here rent for a typical $2,464 a month — a 5.8% gross rental yield. The effective property tax rate is 2.8%.

#Rent & investment

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

Monthly rent: $2,464^[2]
Gross yield: 5.8%^[2]
Cap rate: 3.5%^[2]

#Property tax

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

Effective tax rate: 2.8%^[3]
Typical annual tax: $14,110^[3]

#Climate risk

FEMA National Risk Index ratings for Union 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 Moderate
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Moderate
Winter weather: Very High

#Who lives here

Population: 22,646^[3]
Median household income: $92,762^[3]

#Migration

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

Net migration: -1,953^[5]
Moved in: 15,002
Moved out: 16,955

Schools

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

Public schools: 8
Elementary: 4
Middle: 2
High: 2

Abraham Clark High School
High · Grades 9–12 · Roselle Public School District
918 students
Grace Wilday Junior High School
Middle · Grades 7–8 · Roselle Public School District
484 students
Leonard V Moore Middle School
Middle · Grades 5–6 · Roselle Public School District
457 students
Washington Elementary School
Elementary · Grades 1–4 · Roselle Public School District
358 students
Harrison Elementary School
Elementary · Grades 1–4 · Roselle Public School District
310 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 yield5.8%

Net yield (after ~40% expenses)3.5%

Annual rent$29,565

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$2,578

Loan principal$407,944

Down payment$101,986

Total interest paid$520,310

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 ratio1.70

Monthly cost to own$4,181

Monthly rent$2,464

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: 86th percentile^[1]
Rental yield: 75th percentile^[2]
Property tax: 100th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

6th for best 10-year appreciation in NJView list →

Frequently asked

How much is a home worth in ZIP code 07203?: The typical home in 07203 is worth $509,929, based on the Zillow Home Value Index.
Are home values rising in 07203?: Home values in 07203 are up 1.2% over the past year, and up 7.8% a year over five years.
What is the typical rent in 07203?: A typical home in 07203 rents for about $2,464 a month, a gross rental yield of 5.8%.
What is the property tax rate in 07203?: The effective property tax rate in 07203 is 2.8% — roughly $14,110 a year on a typical home.
Who lives in 07203?: ZIP code 07203 has a population of 22,646 and a median household income of $92,762.

#Comparable ZIPs

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

08724 vs 07203 →
Allenwood CDP, NJ
Typical home
$511,164
Gross yield
6.6%
07735 vs 07203 →
Union Beach, NJ
Typical home
$508,694
Gross yield
6.1%
07205
Kean University CDP, NJ
Typical home
$508,587
Gross yield
7.7%
07107
Newark, NJ
Typical home
$512,442
Gross yield
4.6%
10460
New York, NY
Typical home
$512,484
Gross yield
7.0%
07847
Kenvil CDP, NJ
Typical home
$506,388
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ07203

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