ZIP Code · NJ

ZIP 07407

Part of Elmwood Park, NJ

Pop. 21,412·Bergen County·106th most expensive ZIP in New Jersey

Median rent (all units)

$2,481/mo

Year-over-Year

+0.4%

Month-over-Month

-0.4%

vs US Median

+$549

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 07407 · $2,481

More expensive than 79% 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

$2,060

1 BR

$2,340

2 BR

$2,690

3 BR

$3,280

4 BR+

$4,190

Research median

$2,690/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 07407 changed +0.4% 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 3 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($101,740) is $2,544 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($2,340); a 2-bedroom is $2,690.

Cheaper nearby

ZIP 07503, 2 miles away, rents for 13% less ($2,149/mo), about $4,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 07407. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$29,772/yr

At $2,481/mo median

Location

CityElmwood Park

StateNJ

CountyBergen County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

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

Demographics

Who lives here

ZIP 07407 (Elmwood Park, NJ) is majority owner-occupied, has a median income above the national average, 35.1% of residents hold a bachelor's degree or higher.

Population

21,412

Median income

$101,740

Median age

39.9

Renters

42.5%

Age distribution

19.6%

24.8%

23.8%

13.4%

18.5%

Under 1819.6%

18–3424.8%

35–5423.8%

55–6413.4%

65+18.5%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

52.7%

29.5%

White52.7%

Black11.7%

Hispanic29.5%

Asian9.4%

Education (25+)

30.8%

24.8%

35.1%

No HS diploma9.4%

HS diploma30.8%

Some college24.8%

Bachelor's+35.1%

Housing tenure

57.5%

42.5%

Owner57.5%

Renter42.5%

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

2021 vs 2026

How ZIP 07407 in Elmwood Park, NJ has changed in 5 years

Income

$75,091 → $101,740

up 35.5%

Population

21,239 → 21,412

up 0.8%

Renter share

45.5% → 42.5%

-3.0 pts

Bachelor's+

30.4% → 35.1%

+4.7 pts

Median age

39.2 → 39.9

+0.7 yrs

Household income in the area moved from $75,091 to $101,740 across the same window, up 35.5% versus 2021. The renter share has eased from 45.5% to 42.5%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 30.4% to 35.1% across the same window.

Community

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Local insights

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About renting in ZIP 07407

Last updated: October 17, 2026

ZIP code 07407 covers Elmwood Park, NJ. The median rent here is $2,481/mo as of October 2026. A 1-bedroom rents for a median of $2,340/mo. A 2-bedroom rents for a median of $2,690/mo.

At 29% of local median household income ($101,740/yr), ZIP 07407 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 07407?

To keep rent at or below 30% of gross income, you would need to earn at least $99,000/year (about $48/hour full-time) to afford the median rent of $2,481/mo in ZIP 07407. The local median household income is $101,740/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 07407?

Rent in ZIP 07407 has been roughly flat over the past year, a +0.4% change.

How does ZIP 07407 compare to other ZIPs in New Jersey?

ZIP 07407 is in the middle among New Jersey ZIP codes for rent, ranking #106 of 209 at $2,481/mo. Over the year to September 2026, rent in ZIP 07407 changed +0.4%, against a typical +2.8% across the 149 New Jersey ZIP codes Zillow tracks.