How much is a home worth in ZIP code 07974?

The typical home in 07974 is worth $987,715, based on the Zillow Home Value Index.

Are home values rising in 07974?

Home values in 07974 are up 5.8% over the past year, and up 7.3% a year over five years.

What is the typical rent in 07974?

A typical home in 07974 rents for about $2,312 a month, a gross rental yield of 2.8%.

What is the property tax rate in 07974?

The effective property tax rate in 07974 is 2.0% — roughly $19,301 a year on a typical home.

ZIP code 07974 has a population of 13,349 and a median household income of $172,894.

HousingHandbookReference data

…

U.S. ZIP Code · NJ07974

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

Typical home value

$987,715^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +5.8%
5-year / yr: +7.3%
10-year / yr: +4.7%

Relative price

vs U.S.: +247.7%
vs metro: +35.4%
vs state: +73.4%

Price history

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

The typical home in 07974 is worth $987,715 — 35.4% above the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 5.8%. Homes here rent for a typical $2,312 a month — a 2.8% gross rental yield. The effective property tax rate is 2.0%.

#Rent & investment

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

Monthly rent: $2,312^[2]
Gross yield: 2.8%^[2]
Cap rate: 1.7%^[2]

#Property tax

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

Effective tax rate: 2.0%^[3]
Typical annual tax: $19,301^[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: 13,349^[3]
Median household income: $172,894^[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: 5
Elementary: 2
Middle: 1
High: 1

Allen W. Roberts School
Elementary · Grades PK–6 · New Providence School District
674 students
New Providence High School
High · Grades 9–12 · New Providence School District
635 students
Salt Brook School
Elementary · Grades K–6 · New Providence School District
592 students
New Providence Middle School
Middle · Grades 7–8 · New Providence School District
417 students
Developmental Learning Center New Providence
Other · Grades PK–9 · Morris-Union Jointure Commission School District
82 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 yield2.8%

Net yield (after ~40% expenses)1.7%

Annual rent$27,748

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$4,994

Loan principal$790,172

Down payment$197,543

Total interest paid$1,007,821

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 ratio3.21

Monthly cost to own$7,423

Monthly rent$2,312

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

Frequently asked

How much is a home worth in ZIP code 07974?: The typical home in 07974 is worth $987,715, based on the Zillow Home Value Index.
Are home values rising in 07974?: Home values in 07974 are up 5.8% over the past year, and up 7.3% a year over five years.
What is the typical rent in 07974?: A typical home in 07974 rents for about $2,312 a month, a gross rental yield of 2.8%.
What is the property tax rate in 07974?: The effective property tax rate in 07974 is 2.0% — roughly $19,301 a year on a typical home.
Who lives in 07974?: ZIP code 07974 has a population of 13,349 and a median household income of $172,894.

#Comparable ZIPs

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

10522 vs 07974 →
Dobbs Ferry, NY
Typical home
$986,856
Gross yield
4.7%
07764 vs 07974 →
West Long Branch, NJ
Typical home
$986,549
Gross yield
—
11944
Greenport West CDP, NY
Typical home
$984,835
Gross yield
—
11557
Hewlett CDP, NY
Typical home
$991,290
Gross yield
—
10709
Eastchester CDP, NY
Typical home
$993,506
Gross yield
3.2%
07650
Palisades Park, NJ
Typical home
$980,982
Gross yield
—

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#Jump to section

U.S. ZIP Code · NJ07974

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