ZIP Code · NJ

ZIP 07078

Part of Short Hills, NJ

Pop. 14,613·Essex County·1st most expensive ZIP in New Jersey

Median rent (all units)

$7,342/mo

Year-over-Year

Stable

Month-over-Month

+1.6%

vs US Median

+$5,410

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 07078 · $7,342

More expensive than 100% 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

$2,200

1 BR

$2,490

2 BR

$3,010

3 BR

$3,770

4 BR+

$4,280

Research median

$3,010/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: September 25, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($250,001) is $6,250 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($4,280).

Cheaper nearby

ZIP 07041, 2 miles away, rents for 56% less ($3,196/mo), about $49,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 07078. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$88,104/yr

At $7,342/mo median

Location

CityShort Hills

StateNJ

CountyEssex County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.0% YoY, +1.6% MoM), not inventory.

Demographics

Who lives here

ZIP 07078 (Short Hills, NJ) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 92.7% of residents hold a bachelor's degree or higher.

Population

14,613

Median income

$250,001

Median age

41.5

Renters

11.5%

Age distribution

32.2%

35.3%

Under 1832.2%

18–3410.4%

35–5435.3%

55–6410.5%

65+11.5%

Gender

49.6%

50.4%

Male49.6%

Female50.4%

Race & ethnicity

51.8%

40.4%

White51.8%

Black1.4%

Hispanic4.4%

Asian40.4%

Other1.9%

Education (25+)

92.7%

No HS diploma1%

HS diploma2.1%

Some college4.2%

Bachelor's+92.7%

Housing tenure

88.5%

Owner88.5%

Renter11.5%

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

2021 vs 2026

How ZIP 07078 in Short Hills, NJ has changed in 5 years

Income

$250,001 → $250,001

up 0.0%

Population

14,285 → 14,613

up 2.3%

Renter share

10.3% → 11.5%

+1.2 pts

Bachelor's+

88.1% → 92.7%

+4.6 pts

Household income in the area moved from $250,001 to $250,001 across the same window, up 0.0% versus 2021. The population has grown by 2.3% since 2021, moving from about 14,285 residents to roughly 14,613. College-educated residents now make up 92.7% of adults here, versus 88.1% in 2021.

Community

Discussions about ZIP 07078

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Local insights

Tips for renters in ZIP 07078

About renting in ZIP 07078

Last updated: September 25, 2026

ZIP code 07078 covers Short Hills, NJ. The median rent here is $7,342/mo as of September 2026. A 1-bedroom rents for a median of $2,490/mo. A 2-bedroom rents for a median of $3,010/mo.

At 35% of local median household income ($250,001/yr), ZIP 07078 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 07078?

To keep rent at or below 30% of gross income, you would need to earn at least $294,000/year (about $141/hour full-time) to afford the median rent of $7,342/mo in ZIP 07078. The local median household income is $250,001/yr, so the typical household falls short of that bar.