ZIP Code · NJ

ZIP 07208

Part of Elizabeth, NJ

Pop. 31,937·Union County·168th most expensive ZIP in New Jersey

Median rent (all units)

$2,080/mo

Year-over-Year

-5.3%

Month-over-Month

-1.8%

vs US Median

+$148

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 07208 · $2,080

More expensive than 65% 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

$1,500

1 BR

$1,690

2 BR

$2,050

3 BR

$2,570

4 BR+

$2,920

Research median

$2,050/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

Past year vs. the rest of New Jersey

Rent in ZIP 07208 changed -5.3% over the year to September 2026. Across the 149 New Jersey ZIP codes Zillow tracks, the typical change was +2.8%.

What a typical income covers

30% of the median household income ($65,511) is $1,638 a month. That covers HUD's Fair Market Rent for up to a studio ($1,500); a 1-bedroom is $1,690.

Rank in Elizabeth

1st cheapest of 4 ZIP codes in Elizabeth.

From Zillow's monthly rent index (ZORI) for ZIP 07208. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$24,960/yr

At $2,080/mo median

Location

CityElizabeth

StateNJ

CountyUnion County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 5.3% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-5.3% YoY, -1.8% MoM), not inventory.

Demographics

Who lives here

ZIP 07208 (Elizabeth, NJ) is majority renter-occupied, has a median income below the national average, 22.5% of residents hold a bachelor's degree or higher.

Population

31,937

Median income

$65,511

Median age

37.9

Renters

72%

Age distribution

23%

22%

30.1%

13%

Under 1823%

18–3422%

35–5430.1%

55–6411.8%

65+13%

Gender

51.8%

48.2%

Male51.8%

Female48.2%

Race & ethnicity

31.5%

17.1%

60.6%

White31.5%

Black17.1%

Hispanic60.6%

Asian2.7%

Education (25+)

19.1%

37.7%

20.7%

22.5%

No HS diploma19.1%

HS diploma37.7%

Some college20.7%

Bachelor's+22.5%

Housing tenure

28%

72%

Owner28%

Renter72%

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

2021 vs 2026

How ZIP 07208 in Elizabeth, NJ has changed in 5 years

Income

$54,683 → $65,511

up 19.8%

Population

34,383 → 31,937

down 7.1%

Renter share

73.2% → 72%

-1.2 pts

Bachelor's+

23.3% → 22.5%

-0.8 pts

Median age

35.9 → 37.9

+2.0 yrs

On the earnings side, the typical household in ZIP 07208 in Elizabeth, NJ now reports about $65,511, up from $54,683 in 2021. Headcount in the area went from 34,383 to 31,937 between 2021 and 2024, a 7.1% change.

Community

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Local insights

Tips for renters in ZIP 07208

About renting in ZIP 07208

Last updated: October 17, 2026

ZIP code 07208 covers Elizabeth, NJ. The median rent here is $2,080/mo as of October 2026. A 1-bedroom rents for a median of $1,690/mo. A 2-bedroom rents for a median of $2,050/mo.

At 38% of local median household income ($65,511/yr), ZIP 07208 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 5.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 07208?

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 $2,080/mo in ZIP 07208. The local median household income is $65,511/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 07208?

Rent in ZIP 07208 has fallen 5.3% over the past year.

How does ZIP 07208 compare to other ZIPs in New Jersey?

ZIP 07208 is one of the more affordable among New Jersey ZIP codes for rent, ranking #168 of 209 at $2,080/mo. Over the year to September 2026, rent in ZIP 07208 changed -5.3%, against a typical +2.8% across the 149 New Jersey ZIP codes Zillow tracks.