ZIP Code · NJ

ZIP 07108

Part of Newark, NJ

Pop. 28,790·Essex County·172nd most expensive ZIP in New Jersey

Median rent (all units)

$2,065/mo

Year-over-Year

+1.8%

Month-over-Month

+0.6%

vs US Median

+$133

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 07108 · $2,065

More expensive than 64% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,400

1 BR

$1,600

2 BR

$1,930

3 BR

$2,430

4 BR+

$2,760

Research median

$1,930/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

Compared with the peak

Rent in ZIP 07108 is at its highest level since Zillow's records here began in March 2022.

Past year vs. the rest of New Jersey

Rent in ZIP 07108 changed +1.8% 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 5 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($36,200) is $905 a month. That is less than HUD's Fair Market Rent for a studio ($1,400).

Rank in Newark

6th cheapest of 9 ZIP codes in Newark.

From Zillow's monthly rent index (ZORI) for ZIP 07108. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$24,780/yr

At $2,065/mo median

Location

CityNewark

StateNJ

CountyEssex County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.8% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 07108 (Newark, NJ) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 18.4% of residents hold a bachelor's degree or higher.

Population

28,790

Median income

$36,200

Median age

32.8

Renters

81%

Age distribution

30.1%

23%

27.5%

Under 1830.1%

18–3423%

35–5427.5%

55–649.5%

65+9.9%

Gender

46.7%

53.3%

Male46.7%

Female53.3%

Race & ethnicity

76.2%

18.1%

White2.4%

Black76.2%

Hispanic18.1%

Asian0.6%

Other2.7%

Education (25+)

12.6%

38.1%

30.8%

18.4%

No HS diploma12.6%

HS diploma38.1%

Some college30.8%

Bachelor's+18.4%

Housing tenure

19%

81%

Owner19%

Renter81%

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

2022 vs 2026

How ZIP 07108 in Newark, NJ has changed in 5 years

Rent

$1,529 → $2,065

up 35.1%

Income

$29,657 → $36,200

up 22.1%

Population

28,267 → 28,790

up 1.9%

Renter share

83.6% → 81%

-2.6 pts

Bachelor's+

15.4% → 18.4%

+3.0 pts

Compared with 2022, rent in ZIP 07108 in Newark, NJ has increased by $536 per month, settling near $2,065 after starting the period at $1,529. Median household income grew from $29,657 to $36,200 between 2021 and 2024, a 22.1% shift. Rent outpaced income growth by roughly 13.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 28,267 to 28,790 between 2021 and 2024, a 1.9% change. About 81% of households rent today, against 83.6% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 15.4% to 18.4%. Taken together, the five-year picture in ZIP 07108 in Newark, 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 07108

Last updated: October 17, 2026

ZIP code 07108 covers Newark, NJ. The median rent here is $2,065/mo as of October 2026. A 1-bedroom rents for a median of $1,600/mo. A 2-bedroom rents for a median of $1,930/mo.

At 68% of local median household income ($36,200/yr), ZIP 07108 ranks as expensive compared to the national benchmark of 30%. Rents have increased 1.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 07108?

To keep rent at or below 30% of gross income, you would need to earn at least $83,000/year (about $40/hour full-time) to afford the median rent of $2,065/mo in ZIP 07108. The local median household income is $36,200/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 07108?

Rent in ZIP 07108 has risen 1.8% over the past year as of September 2026. That is the highest level since Zillow's records here began in March 2022.

How does ZIP 07108 compare to other ZIPs in New Jersey?

ZIP 07108 is one of the more affordable among New Jersey ZIP codes for rent, ranking #172 of 209 at $2,065/mo. Over the year to September 2026, rent in ZIP 07108 changed +1.8%, against a typical +2.8% across the 149 New Jersey ZIP codes Zillow tracks.