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ZIP Code · NJ

ZIP 07042

Pop. 27,326·Essex County·51st most expensive ZIP in New Jersey
Median rent (all units)
$2,971/mo
Year-over-Year
+3.8%
Month-over-Month
+1.4%
vs US Median
+$1,006
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 07042 · $2,971
More expensive than 90% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$2,110
1 BR
$2,390
2 BR
$2,890
3 BR
$3,620
4 BR+
$4,110
Research median
$2,890/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
$35,652/yr
At $2,971/mo median
Location
StateNJ
CountyEssex County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 3.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+3.8% YoY, +1.4% MoM), not inventory.
Demographics

Who lives here

ZIP 07042 (Montclair, NJ) is roughly split between renters and owners, has a median income above the national average, 68.8% of residents hold a bachelor's degree or higher.

Population
27,326
Median income
$122,847
Median age
39.1
Renters
53.3%
Age distribution
23.6%
19.1%
31%
15.3%
Under 1823.6%
18–3419.1%
35–5431%
55–6411.1%
65+15.3%
Gender
48.8%
51.2%
Male48.8%
Female51.2%
Race & ethnicity
50.7%
24.9%
12.8%
White50.7%
Black24.9%
Hispanic12.8%
Asian5.9%
Other5.7%
Education (25+)
16.1%
68.8%
No HS diploma3.5%
HS diploma11.6%
Some college16.1%
Bachelor's+68.8%
Housing tenure
46.7%
53.3%
Owner46.7%
Renter53.3%

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

2021 vs 2026

How ZIP 07042 in Montclair, NJ has changed in 5 years

Rent
$2,178 → $2,971
up 36.4%
Income
$128,581 → $122,847
down 4.5%
Population
28,049 → 27,326
down 2.6%
Renter share
46.8% → 53.3%
+6.5 pts
Bachelor's+
63.4% → 68.8%
+5.4 pts

Since 2021, the typical rent in ZIP 07042 in Montclair, NJ has increased from $2,178 to $2,971, a 36.4% change over five years. Median household income slipped from $128,581 to $122,847 between 2021 and 2024, a 4.5% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 2.6% since 2021, moving from about 28,049 residents to roughly 27,326. Renters now make up 53.3% of households, compared with 46.8% five years ago. College-educated residents now make up 68.8% of adults here, versus 63.4% in 2021. Taken together, the five-year picture in ZIP 07042 in Montclair, 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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About renting in ZIP 07042

Last updated: July 20, 2026

ZIP code 07042 covers Montclair, NJ. The median rent here is $2,971/mo as of July 2026. A 1-bedroom rents for a median of $2,390/mo. A 2-bedroom rents for a median of $2,890/mo.

At 29% of local median household income ($122,847/yr), ZIP 07042 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.8% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 07042?

As of July 20, 2026, the median monthly rent in ZIP 07042 (Montclair, NJ) is $2,971. This is based on aggregated data from public sources and community submissions.

How does ZIP 07042 rent compare to the US average?

ZIP 07042's median rent of $2,971/mo is $1,006 (51%) above the US national median of $1,965/mo.

How does ZIP 07042 compare to other ZIPs in New Jersey?

ZIP 07042 is one of the pricier ZIP codes in New Jersey, ranking #51 out of 212 ZIPs tracked at $2,971/mo.

How much income do you need to rent in ZIP 07042?

To keep rent at or below 30% of gross income, you would need to earn at least $119,000/year (~$57/hour full-time) to afford the median rent of $2,971/mo in ZIP 07042. The local median household income is $122,847/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 07042?

Rent in ZIP 07042 has increased 3.8% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 07042 an affordable place to rent?

ZIP 07042 is considered affordable for renters. At $2,971/mo, rent takes approximately 29% of the local median household income ($122,847/yr). The standard benchmark is 30%. ZIP 07042 falls comfortably within that range.

What percentage of ZIP 07042 residents rent vs. own?

According to Census data, approximately 53.3% of ZIP 07042 households are renters, while 46.7% are owner-occupied. With a majority renter population, ZIP 07042 has a strong rental market.

How does ZIP 07042 compare to the rest of Montclair?

ZIP 07042 is more affordable than Montclair overall. At $2,971/mo, it's $50 below the Montclair citywide median of $3,021/mo.

When was rent data for ZIP 07042 last updated?

Rent data for ZIP 07042 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
29%
AFFORDABLE

At $2,971/mo, rent takes ~29% of ZIP 07042's median household income ($122,847/yr). The standard benchmark is 30%.

ZIP 07042 29%Benchmark 30%
State income tax1.4–10.75%
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Schools nearby

Public schools near ZIP 07042 (Montclair, NJ)

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