How much is a home worth in ZIP code 07950?

The typical home in 07950 is worth $729,375, based on the Zillow Home Value Index.

Are home values rising in 07950?

Home values in 07950 are up 3.8% over the past year, and up 6.0% a year over five years.

What is the typical rent in 07950?

A typical home in 07950 rents for about $3,558 a month, a gross rental yield of 5.9%.

What is the property tax rate in 07950?

The effective property tax rate in 07950 is 1.9% — roughly $13,855 a year on a typical home.

ZIP code 07950 has a population of 21,651 and a median household income of $153,762.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07950

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

Typical home value

$729,375^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +3.8%
5-year / yr: +6.0%
10-year / yr: +4.3%

Relative price

vs U.S.: +156.8%
vs metro: ≈ metro median
vs state: +28.1%

Price history

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

The typical home in 07950 is worth $729,375. Over the past year, values have risen 3.8%. Homes here rent for a typical $3,558 a month — a 5.9% 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: $3,558^[2]
Gross yield: 5.9%^[2]
Cap rate: 3.5%^[2]

#Property tax

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

Effective tax rate: 1.9%^[3]
Typical annual tax: $13,855^[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: 21,651^[3]
Median household income: $153,762^[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: 7
Elementary: 4
Middle: 1
High: 2

Parsippany Hills High School
High · Grades 9–12 · Parsippany-Troy Hills Township School District
1,021 students
Littleton Elementary School
Elementary · Grades PK–5 · Parsippany-Troy Hills Township School District
427 students
Morris Plains Borough School
Middle · Grades 3–8 · Morris Plains School District
391 students
Alfred Vail School
Elementary · Grades K–2 · Morris School District
334 students
Mountview Road School
Elementary · Grades K–5 · Hanover Township School District
263 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 yield5.9%

Net yield (after ~40% expenses)3.5%

Annual rent$42,690

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$3,688

Loan principal$583,500

Down payment$145,875

Total interest paid$744,222

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 ratio1.53

Monthly cost to own$5,451

Monthly rent$3,558

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: 47th percentile^[1]
Rental yield: 76th percentile^[2]
Property tax: 61st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 07950?: The typical home in 07950 is worth $729,375, based on the Zillow Home Value Index.
Are home values rising in 07950?: Home values in 07950 are up 3.8% over the past year, and up 6.0% a year over five years.
What is the typical rent in 07950?: A typical home in 07950 rents for about $3,558 a month, a gross rental yield of 5.9%.
What is the property tax rate in 07950?: The effective property tax rate in 07950 is 1.9% — roughly $13,855 a year on a typical home.
Who lives in 07950?: ZIP code 07950 has a population of 21,651 and a median household income of $153,762.

#Comparable ZIPs

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

10308 vs 07950 →
New York, NY
Typical home
$729,548
Gross yield
—
11412 vs 07950 →
New York, NY
Typical home
$729,162
Gross yield
5.3%
11208
New York, NY
Typical home
$729,721
Gross yield
5.1%
08807
Martinsville CDP, NJ
Typical home
$730,718
Gross yield
4.6%
07646
New Milford, NJ
Typical home
$731,042
Gross yield
6.9%
11203
New York, NY
Typical home
$727,265
Gross yield
4.8%

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Pit ZIP 07950 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · NJ07950

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