ZIP Code · NJ

ZIP 07206

Part of Elizabeth, NJ

Pop. 31,930·Union County·152nd most expensive ZIP in New Jersey

Median rent (all units)

$2,239/mo

Year-over-Year

+3.7%

Month-over-Month

-0.4%

vs US Median

+$307

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 07206 · $2,239

More expensive than 72% 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

$1,450

1 BR

$1,640

2 BR

$1,980

3 BR

$2,480

4 BR+

$2,820

Research median

$1,980/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 07206 is 1.2% below its high of $2,267 in March 2026, at $2,239 as of September 2026.

Past year vs. the rest of New Jersey

Rent in ZIP 07206 changed +3.7% 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 fallen 2 months in a row, and rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($68,420) is $1,711 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,640); a 2-bedroom is $1,980.

Rank in Elizabeth

2nd cheapest of 4 ZIP codes in Elizabeth.

Cheaper nearby

ZIP 07114, 3 miles away, rents for 14% less ($1,926/mo), about $3,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 07206. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$26,868/yr

At $2,239/mo median

Location

CityElizabeth

StateNJ

CountyUnion County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.7% YoY, -0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 07206 (Elizabeth, NJ) is majority renter-occupied, has a large share of families with children, 9.4% of residents hold a bachelor's degree or higher.

Population

31,930

Median income

$68,420

Median age

31.2

Renters

75.9%

Age distribution

29.8%

25.5%

25.8%

Under 1829.8%

18–3425.5%

35–5425.8%

55–649.4%

65+9.5%

Gender

48.8%

51.2%

Male48.8%

Female51.2%

Race & ethnicity

18.3%

71.2%

White11.7%

Black18.3%

Hispanic71.2%

Asian1%

Education (25+)

34.7%

35.9%

19.9%

No HS diploma34.7%

HS diploma35.9%

Some college19.9%

Bachelor's+9.4%

Housing tenure

24.1%

75.9%

Owner24.1%

Renter75.9%

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

2021 vs 2026

How ZIP 07206 in Elizabeth, NJ has changed in 5 years

Income

$51,870 → $68,420

up 31.9%

Population

29,387 → 31,930

up 8.7%

Renter share

72.7% → 75.9%

+3.2 pts

Bachelor's+

7.2% → 9.4%

+2.2 pts

Median age

32.4 → 31.2

-1.2 yrs

Local incomes tracked alongside that move, going from a median of $51,870 in 2021 to $68,420 more recently. The population has grown by 8.7% since 2021, moving from about 29,387 residents to roughly 31,930. Renters now make up 75.9% of households, compared with 72.7% five years ago. College-educated residents now make up 9.4% of adults here, versus 7.2% in 2021.

Community

Discussions about ZIP 07206

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Local insights

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About renting in ZIP 07206

Last updated: October 17, 2026

ZIP code 07206 covers Elizabeth, NJ. The median rent here is $2,239/mo as of October 2026. A 1-bedroom rents for a median of $1,640/mo. A 2-bedroom rents for a median of $1,980/mo.

At 39% of local median household income ($68,420/yr), ZIP 07206 ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 07206?

To keep rent at or below 30% of gross income, you would need to earn at least $90,000/year (about $43/hour full-time) to afford the median rent of $2,239/mo in ZIP 07206. The local median household income is $68,420/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 07206?

Rent in ZIP 07206 has risen 3.7% over the past year as of September 2026. It sits 1.2% below its high of $2,267 in March 2026.

How does ZIP 07206 compare to other ZIPs in New Jersey?

ZIP 07206 is one of the more affordable among New Jersey ZIP codes for rent, ranking #152 of 209 at $2,239/mo. Over the year to September 2026, rent in ZIP 07206 changed +3.7%, against a typical +2.8% across the 149 New Jersey ZIP codes Zillow tracks.