How much is a home worth in ZIP code 08873?

The typical home in 08873 is worth $572,161, based on the Zillow Home Value Index.

Are home values rising in 08873?

Home values in 08873 are up 2.2% over the past year, and up 6.9% a year over five years.

What is the typical rent in 08873?

A typical home in 08873 rents for about $2,661 a month, a gross rental yield of 5.6%.

What is the property tax rate in 08873?

The effective property tax rate in 08873 is 1.8% — roughly $10,328 a year on a typical home.

ZIP code 08873 has a population of 56,327 and a median household income of $124,972.

HousingHandbookReference data

…

U.S. ZIP Code · NJ08873

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

Typical home value

$572,161^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.2%
5-year / yr: +6.9%
10-year / yr: +6.0%

Relative price

vs U.S.: +101.4%
vs metro: -21.6%
vs state: ≈ state median

Price history

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

The typical home in 08873 is worth $572,161 — 21.6% below the New York-Newark-Jersey City, NY-NJ median. Over the past year, values have risen 2.2%. Homes here rent for a typical $2,661 a month — a 5.6% gross rental yield. The effective property tax rate is 1.8%.

#Rent & investment

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

Monthly rent: $2,661^[2]
Gross yield: 5.6%^[2]
Cap rate: 3.3%^[2]

#Property tax

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

Effective tax rate: 1.8%^[3]
Typical annual tax: $10,328^[3]

#Climate risk

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

Overall risk: Relatively Moderate^[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 Low
Winter weather: Relatively High

#Who lives here

Population: 56,327^[3]
Median household income: $124,972^[3]

#Migration

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

Net migration: -793^[5]
Moved in: 10,827
Moved out: 11,620

Schools

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

Public schools: 10
Elementary: 5
Middle: 2
High: 1

Franklin High School
High · Grades 9–12 · Franklin Township Public School District
2,200 students
Central Jersey College Prep Charter School
Other · Grades K–12 · Central Jersey College Prep Charter School
1,357 students
Franklin Middle School at Sampson G. Smith Campus
Middle · Grades 6–8 · Franklin Township Public School District
714 students
Franklin Middle School at Hamilton Street Campus
Middle · Grades 6–8 · Franklin Township Public School District
667 students
Thomas Edison EnergySmart Charter School
Other · Grades K–12 · Thomas Edison EnergySmart Charter School
608 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)3.3%

Annual rent$31,932

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$2,893

Loan principal$457,729

Down payment$114,432

Total interest paid$583,808

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 ratio1.59

Monthly cost to own$4,233

Monthly rent$2,661

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: 68th percentile^[1]
Rental yield: 71st percentile^[2]
Property tax: 53rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 08873?: The typical home in 08873 is worth $572,161, based on the Zillow Home Value Index.
Are home values rising in 08873?: Home values in 08873 are up 2.2% over the past year, and up 6.9% a year over five years.
What is the typical rent in 08873?: A typical home in 08873 rents for about $2,661 a month, a gross rental yield of 5.6%.
What is the property tax rate in 08873?: The effective property tax rate in 08873 is 1.8% — roughly $10,328 a year on a typical home.
Who lives in 08873?: ZIP code 08873 has a population of 56,327 and a median household income of $124,972.

#Comparable ZIPs

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

07504 vs 08873 →
Paterson, NJ
Typical home
$571,978
Gross yield
—
07732 vs 08873 →
Highlands, NJ
Typical home
$572,492
Gross yield
—
07208
Elizabeth, NJ
Typical home
$572,921
Gross yield
4.4%
07014
Clifton, NJ
Typical home
$573,441
Gross yield
—
07029
Harrison, NJ
Typical home
$573,574
Gross yield
5.3%
10037
New York, NY
Typical home
$570,026
Gross yield
5.4%

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#Jump to section

U.S. ZIP Code · NJ08873

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