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ZIP Code · NJ

ZIP 07016

Part of Cranford, NJ
Pop. 24,074·Union County·42nd most expensive ZIP in New Jersey
Median rent (all units)
$3,041/mo
Year-over-Year
+10.8%
Month-over-Month
-2.0%
vs US Median
+$1,076
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 07016 · $3,041
More expensive than 91% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$2,040
1 BR
$2,310
2 BR
$2,790
3 BR
$3,490
4 BR+
$3,970
Research median
$2,790/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$36,492/yr
At $3,041/mo median
Location
StateNJ
CountyUnion County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 10.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+10.8% YoY, -2.0% MoM), not inventory.
Demographics

Who lives here

ZIP 07016 (Cranford, NJ) is majority owner-occupied, has a large retiree population, has a median income above the national average, 66.2% of residents hold a bachelor's degree or higher.

Population
24,074
Median income
$155,972
Median age
43.4
Renters
22.5%
Age distribution
22.8%
15.9%
28.3%
12.7%
20.3%
Under 1822.8%
18–3415.9%
35–5428.3%
55–6412.7%
65+20.3%
Gender
51.2%
48.8%
Male51.2%
Female48.8%
Race & ethnicity
85.3%
White85.3%
Black2.2%
Hispanic8.2%
Asian3.2%
Other1.1%
Education (25+)
16.4%
14.6%
66.2%
No HS diploma2.8%
HS diploma16.4%
Some college14.6%
Bachelor's+66.2%
Housing tenure
77.5%
22.5%
Owner77.5%
Renter22.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 07016 in Cranford, NJ has changed in 5 years

Income
$139,394 → $155,972
up 11.9%
Population
23,823 → 24,074
up 1.1%
Renter share
20.7% → 22.5%
+1.8 pts
Bachelor's+
60.9% → 66.2%
+5.3 pts
Median age
42.7 → 43.4
+0.7 yrs

Household income in the area moved from $139,394 to $155,972 across the same window, up 11.9% versus 2021. Headcount in the area went from 23,823 to 24,074 between 2021 and 2024, a 1.1% change. About 22.5% of households rent today, against 20.7% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 60.9% to 66.2%.

Community

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Local insights

Tips for renters in ZIP 07016

About renting in ZIP 07016

Last updated: July 20, 2026

ZIP code 07016 covers Cranford, NJ. The median rent here is $3,041/mo as of July 2026. A 1-bedroom rents for a median of $2,310/mo. A 2-bedroom rents for a median of $2,790/mo.

At 23% of local median household income ($155,972/yr), ZIP 07016 ranks as affordable compared to the national benchmark of 30%. Rents have increased 10.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 07016?

As of July 20, 2026, the median monthly rent in ZIP 07016 (Cranford, NJ) is $3,041. This is based on aggregated data from public sources and community submissions.

How does ZIP 07016 rent compare to the US average?

ZIP 07016's median rent of $3,041/mo is $1,076 (55%) above the US national median of $1,965/mo.

How does ZIP 07016 compare to other ZIPs in New Jersey?

ZIP 07016 is one of the pricier ZIP codes in New Jersey, ranking #42 out of 212 ZIPs tracked at $3,041/mo.

How much income do you need to rent in ZIP 07016?

To keep rent at or below 30% of gross income, you would need to earn at least $122,000/year (~$59/hour full-time) to afford the median rent of $3,041/mo in ZIP 07016. The local median household income is $155,972/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 07016?

Rent in ZIP 07016 has increased 10.8% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 07016 an affordable place to rent?

ZIP 07016 is considered very affordable for renters. At $3,041/mo, rent takes approximately 23% of the local median household income ($155,972/yr). The standard benchmark is 30%. ZIP 07016 falls comfortably within that range.

What percentage of ZIP 07016 residents rent vs. own?

According to Census data, approximately 22.5% of ZIP 07016 households are renters, while 77.5% are owner-occupied. ZIP 07016 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 07016 compare to the rest of Cranford?

ZIP 07016 is pricier than Cranford as a whole. At $3,041/mo, it's $18 above the Cranford citywide median of $3,023/mo.

When was rent data for ZIP 07016 last updated?

Rent data for ZIP 07016 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $3,041/mo, rent takes ~23% of ZIP 07016's median household income ($155,972/yr). The standard benchmark is 30%.

ZIP 07016 23%Benchmark 30%
State income tax1.4–10.75%
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Schools nearby

Public schools near ZIP 07016 (Cranford, NJ)

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