ZIP Code · NJ

ZIP 07016

Part of Cranford, NJ

Pop. 24,074·Union County·27th most expensive ZIP in New Jersey

Median rent (all units)

$3,119/mo

Year-over-Year

+3.1%

Month-over-Month

+0.6%

vs US Median

+$1,187

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 07016 · $3,119

More expensive than 92% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of New Jersey

Rent in ZIP 07016 changed +3.1% over the year to September 2026. Across the 149 New Jersey ZIP codes Zillow tracks, the typical change was +2.8%.

Recent direction

Rent has risen 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($155,972) is $3,899 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($3,490); a 4-bedroom is $3,970.

Cheaper nearby

ZIP 07204, 2 miles away, rents for 19% less ($2,527/mo), about $7,100 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 07016. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$37,428/yr

At $3,119/mo median

Location

CityCranford

StateNJ

CountyUnion County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.1% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.1% YoY, +0.6% 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

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About renting in ZIP 07016

Last updated: October 17, 2026

ZIP code 07016 covers Cranford, NJ. The median rent here is $3,119/mo as of October 2026. A 1-bedroom rents for a median of $2,310/mo. A 2-bedroom rents for a median of $2,790/mo.

At 24% of local median household income ($155,972/yr), ZIP 07016 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.1% over the past year.

FAQ

Frequently asked questions

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 $125,000/year (about $60/hour full-time) to afford the median rent of $3,119/mo in ZIP 07016. The local median household income is $155,972/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 07016?

Rent in ZIP 07016 has risen 3.1% over the past year.

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

ZIP 07016 is one of the pricier among New Jersey ZIP codes for rent, ranking #27 of 209 at $3,119/mo. Over the year to September 2026, rent in ZIP 07016 changed +3.1%, against a typical +2.8% across the 149 New Jersey ZIP codes Zillow tracks.