ZIP 07024
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12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 07024 usually run 1.6% below trend in January and 1.2% above it in August, about $106 a month apart at today's median. Based on 11 years of data.
Rent in ZIP 07024 is at its highest level since Zillow's records here began in February 2015.
Rent in ZIP 07024 changed +2.1% over the year to September 2026. Across the 149 New Jersey ZIP codes Zillow tracks, the typical change was +2.8%.
From 2019 to 2024, rent in ZIP 07024 rose 29.1% while median household income rose 28.2% ($83,767 to $107,396). Rent outpaced income.
Rent in ZIP 07024 is 35.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 5 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($107,396) is $2,685 a month. That covers HUD's Fair Market Rent for up to a studio ($2,530); a 1-bedroom is $2,880.
ZIP 07605, 1 mile away, rents for 33% less ($2,550/mo), about $14,900 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 07024. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 07024 (Fort Lee, NJ) is majority owner-occupied, has a large retiree population, has a median income above the national average, 65.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 07024 in Fort Lee, NJ has changed in 5 years
Since 2021, the typical rent in ZIP 07024 in Fort Lee, NJ has increased from $2,789 to $3,792, a 36.0% change over five years. Median household income rose from $92,456 to $107,396 between 2021 and 2024, a 16.2% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 44.5% of households, compared with 42% five years ago. College-educated residents now make up 65.8% of adults here, versus 60.3% in 2021. Taken together, the five-year picture in ZIP 07024 in Fort Lee, NJ reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Tips for renters in ZIP 07024
Last updated: October 17, 2026
ZIP code 07024 covers Fort Lee, NJ. The median rent here is $3,792/mo as of October 2026. A 1-bedroom rents for a median of $2,880/mo. A 2-bedroom rents for a median of $3,310/mo.
At 42% of local median household income ($107,396/yr), ZIP 07024 ranks as moderate compared to the national benchmark of 30%. Rents have increased 2.1% over the past year.
Frequently asked questions
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How does ZIP 07024 compare to the rest of Fort Lee?
At $3,792/mo, rent takes ~42% of ZIP 07024's median household income ($107,396/yr). The standard benchmark is 30%.
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