How much is a home worth in ZIP code 07885?

The typical home in 07885 is worth $502,427, based on the Zillow Home Value Index.

Are home values rising in 07885?

Home values in 07885 are up 1.5% over the past year, and up 6.7% a year over five years.

What is the typical rent in 07885?

A typical home in 07885 rents for about $2,530 a month, a gross rental yield of 6.0%.

What is the property tax rate in 07885?

The effective property tax rate in 07885 is 1.9% — roughly $9,795 a year on a typical home.

ZIP code 07885 has a population of 11,806 and a median household income of $100,716.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07885

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

Typical home value

$502,427^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.5%
5-year / yr: +6.7%
10-year / yr: +5.9%

Relative price

vs U.S.: +76.9%
vs metro: -31.1%
vs state: -11.8%

Price history

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

The typical home in 07885 is worth $502,427 — 31.1% 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 $2,530 a month — a 6.0% gross rental yield. The effective property tax rate is 1.9%.

#Rent & investment

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

Monthly rent: $2,530^[2]
Gross yield: 6.0%^[2]
Cap rate: 3.6%^[2]

#Property tax

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

Effective tax rate: 1.9%^[3]
Typical annual tax: $9,795^[3]

#Climate risk

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

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively High
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: Relatively Moderate
Heat wave: Relatively Moderate
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Low
Winter weather: Very High

#Who lives here

Population: 11,806^[3]
Median household income: $100,716^[3]

#Migration

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

Net migration: -1,398^[5]
Moved in: 12,996
Moved out: 14,394

Schools

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

Public schools: 4
Elementary: 3
Middle: 1
High: 0

Marie V. Duffy Elementary School
Elementary · Grades PK–5 · Wharton Borough School District
424 students
Arthur Stanlick Elementary School
Elementary · Grades K–5 · Jefferson Township Public School District
396 students
Catherine A Dwyer Elementary School
Elementary · Grades K–5 · Rockaway Township School District
309 students
Alfred C. MacKinnon Middle School
Middle · Grades 6–8 · Wharton Borough School District
264 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 yield6.0%

Net yield (after ~40% expenses)3.6%

Annual rent$30,360

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$2,541

Loan principal$401,941

Down payment$100,485

Total interest paid$512,654

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 ratio1.49

Monthly cost to own$3,776

Monthly rent$2,530

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: 65th percentile^[1]
Rental yield: 79th percentile^[2]
Property tax: 67th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07885?: The typical home in 07885 is worth $502,427, based on the Zillow Home Value Index.
Are home values rising in 07885?: Home values in 07885 are up 1.5% over the past year, and up 6.7% a year over five years.
What is the typical rent in 07885?: A typical home in 07885 rents for about $2,530 a month, a gross rental yield of 6.0%.
What is the property tax rate in 07885?: The effective property tax rate in 07885 is 1.9% — roughly $9,795 a year on a typical home.
Who lives in 07885?: ZIP code 07885 has a population of 11,806 and a median household income of $100,716.

#Comparable ZIPs

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

10512 vs 07885 →
Carmel CDP, NY
Typical home
$502,867
Gross yield
6.3%
10566 vs 07885 →
Peekskill, NY
Typical home
$503,169
Gross yield
6.3%
11950
Mastic CDP, NY
Typical home
$501,464
Gross yield
—
11961
Ridge CDP, NY
Typical home
$503,860
Gross yield
8.5%
07801
Dover, NJ
Typical home
$503,996
Gross yield
5.9%
07104
Newark, NJ
Typical home
$504,197
Gross yield
4.8%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 07885 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · NJ07885

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