How much is a home worth in ZIP code 07508?

The typical home in 07508 is worth $633,223, based on the Zillow Home Value Index.

Are home values rising in 07508?

Home values in 07508 are up 6.5% over the past year, and up 7.1% a year over five years.

What is the typical rent in 07508?

A typical home in 07508 rents for about $2,619 a month, a gross rental yield of 5.0%.

What is the property tax rate in 07508?

The effective property tax rate in 07508 is 2.2% — roughly $13,777 a year on a typical home.

ZIP code 07508 has a population of 23,762 and a median household income of $95,806.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07508

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

Typical home value

$633,223^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +6.5%
5-year / yr: +7.1%
10-year / yr: +6.5%

Relative price

vs U.S.: +122.9%
vs metro: -13.2%
vs state: +11.2%

Price history

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

The typical home in 07508 is worth $633,223 — 13.2% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 6.5%. Homes here rent for a typical $2,619 a month — a 5.0% gross rental yield. The effective property tax rate is 2.2%.

#Rent & investment

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

Monthly rent: $2,619^[2]
Gross yield: 5.0%^[2]
Cap rate: 3.0%^[2]

#Property tax

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

Effective tax rate: 2.2%^[3]
Typical annual tax: $13,777^[3]

#Climate risk

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

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

#Who lives here

Population: 23,762^[3]
Median household income: $95,806^[3]

#Migration

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

Net migration: -2,927^[5]
Moved in: 10,694
Moved out: 13,621

Schools

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

Public schools: 5
Elementary: 3
Middle: 1
High: 1

Haledon Public School
Elementary · Grades PK–8 · Haledon Public School District
1,005 students
Passaic County-Manchester Regional High School
High · Grades 9–12 · Passaic County Manchester Regional High School District
819 students
Prospect Park School No. 1
Elementary · Grades PK–8 · Prospect Park Public School District
652 students
Memorial Elementary School
Elementary · Grades PK–4 · North Haledon School District
353 students
High Mountain School
Middle · Grades 5–8 · North Haledon School District
260 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 yield5.0%

Net yield (after ~40% expenses)3.0%

Annual rent$31,430

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$3,202

Loan principal$506,579

Down payment$126,645

Total interest paid$646,113

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 ratio1.86

Monthly cost to own$4,880

Monthly rent$2,619

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: 73rd percentile^[1]
Rental yield: 49th percentile^[2]
Property tax: 84th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07508?: The typical home in 07508 is worth $633,223, based on the Zillow Home Value Index.
Are home values rising in 07508?: Home values in 07508 are up 6.5% over the past year, and up 7.1% a year over five years.
What is the typical rent in 07508?: A typical home in 07508 rents for about $2,619 a month, a gross rental yield of 5.0%.
What is the property tax rate in 07508?: The effective property tax rate in 07508 is 2.2% — roughly $13,777 a year on a typical home.
Who lives in 07508?: ZIP code 07508 has a population of 23,762 and a median household income of $95,806.

#Comparable ZIPs

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

08857 vs 07508 →
Old Bridge CDP, NJ
Typical home
$633,195
Gross yield
5.6%
07067 vs 07508 →
Colonia CDP, NJ
Typical home
$632,796
Gross yield
4.7%
11742
Holtsville CDP, NY
Typical home
$633,933
Gross yield
6.2%
07662
NJ
Typical home
$632,383
Gross yield
—
11550
Hempstead, NY
Typical home
$634,163
Gross yield
6.7%
11933
Calverton CDP, NY
Typical home
$632,266
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ07508

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