How much is a home worth in ZIP code 07206?

The typical home in 07206 is worth $495,652, based on the Zillow Home Value Index.

Are home values rising in 07206?

Home values in 07206 are up 1.8% over the past year, and up 8.0% a year over five years.

What is the typical rent in 07206?

A typical home in 07206 rents for about $2,328 a month, a gross rental yield of 5.6%.

What is the property tax rate in 07206?

The effective property tax rate in 07206 is 2.3% — roughly $11,175 a year on a typical home.

ZIP code 07206 has a population of 31,930 and a median household income of $68,420.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07206

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

Typical home value

$495,652^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.8%
5-year / yr: +8.0%
10-year / yr: +12.0%

Relative price

vs U.S.: +74.5%
vs metro: -32.1%
vs state: -13.0%

Price history

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

The typical home in 07206 is worth $495,652 — 32.1% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 1.8%. Homes here rent for a typical $2,328 a month — a 5.6% 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: $2,328^[2]
Gross yield: 5.6%^[2]
Cap rate: 3.4%^[2]

#Property tax

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

Effective tax rate: 2.3%^[3]
Typical annual tax: $11,175^[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: 31,930^[3]
Median household income: $68,420^[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: 9
Elementary: 7
Middle: 1
High: 0

Terence C. Reilly School No 7
Middle · Grades 2–8 · Elizabeth Public Schools
1,147 students
Juan Pablo Duarte - Jose Julian Marti School No 28
Elementary · Grades PK–8 · Elizabeth Public Schools
912 students
Jerome Dunn Academy No 9
Elementary · Grades K–8 · Elizabeth Public Schools
866 students
Sonia Sotomayor School No 25
Elementary · Grades K–8 · Elizabeth Public Schools
595 students
George Washington Academy School No. 1
Elementary · Grades PK–8 · Elizabeth Public Schools
531 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 yield5.6%

Net yield (after ~40% expenses)3.4%

Annual rent$27,940

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$2,506

Loan principal$396,521

Down payment$99,130

Total interest paid$505,741

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 ratio1.65

Monthly cost to own$3,849

Monthly rent$2,328

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: 89th percentile^[1]
Rental yield: 72nd percentile^[2]
Property tax: 89th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

5th for best 10-year appreciation in NJView list →

Frequently asked

How much is a home worth in ZIP code 07206?: The typical home in 07206 is worth $495,652, based on the Zillow Home Value Index.
Are home values rising in 07206?: Home values in 07206 are up 1.8% over the past year, and up 8.0% a year over five years.
What is the typical rent in 07206?: A typical home in 07206 rents for about $2,328 a month, a gross rental yield of 5.6%.
What is the property tax rate in 07206?: The effective property tax rate in 07206 is 2.3% — roughly $11,175 a year on a typical home.
Who lives in 07206?: ZIP code 07206 has a population of 31,930 and a median household income of $68,420.

#Comparable ZIPs

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

07108 vs 07206 →
Newark, NJ
Typical home
$495,469
Gross yield
5.1%
08005 vs 07206 →
Barnegat CDP, NJ
Typical home
$495,875
Gross yield
6.2%
07062
Plainfield, NJ
Typical home
$496,042
Gross yield
—
08731
Forked River CDP, NJ
Typical home
$494,982
Gross yield
—
07420
Wanaque, NJ
Typical home
$494,774
Gross yield
—
08555
Roosevelt, NJ
Typical home
$496,607
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ07206

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