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ZIP Code · NJ

ZIP 07407

Pop. 21,412·Bergen County·121st most expensive ZIP in New Jersey
Median rent (all units)
$2,489/mo
Year-over-Year
+8.2%
Month-over-Month
Stable
vs US Median
+$524
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 07407 · $2,489
More expensive than 79% of US ZIP codes · National median $1,965/mo
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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: July 20, 2026

Annual cost
$29,868/yr
At $2,489/mo median
Location
StateNJ
CountyBergen County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 8.2% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+8.2% YoY, +0.1% 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

Tips for renters in ZIP 07407

About renting in ZIP 07407

Last updated: July 20, 2026

ZIP code 07407 covers Elmwood Park, NJ. The median rent here is $2,489/mo as of July 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 8.2% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 07407?

As of July 20, 2026, the median monthly rent in ZIP 07407 (Elmwood Park, NJ) is $2,489. This is based on aggregated data from public sources and community submissions.

How does ZIP 07407 rent compare to the US average?

ZIP 07407's median rent of $2,489/mo is $524 (27%) above the US national median of $1,965/mo.

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

ZIP 07407 falls in the middle range for New Jersey, ranking #121 out of 212 ZIPs at $2,489/mo.

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 $100,000/year (~$48/hour full-time) to afford the median rent of $2,489/mo in ZIP 07407. The local median household income is $101,740/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 07407?

Rent in ZIP 07407 has increased 8.2% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 07407 an affordable place to rent?

ZIP 07407 is considered affordable for renters. At $2,489/mo, rent takes approximately 29% of the local median household income ($101,740/yr). The standard benchmark is 30%. ZIP 07407 falls comfortably within that range.

What percentage of ZIP 07407 residents rent vs. own?

According to Census data, approximately 42.5% of ZIP 07407 households are renters, while 57.5% are owner-occupied. ZIP 07407 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 07407 compare to the rest of Elmwood Park?

ZIP 07407 is more affordable than Elmwood Park overall. At $2,489/mo, it's $10 below the Elmwood Park citywide median of $2,499/mo.

When was rent data for ZIP 07407 last updated?

Rent data for ZIP 07407 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
29%
AFFORDABLE

At $2,489/mo, rent takes ~29% of ZIP 07407's median household income ($101,740/yr). The standard benchmark is 30%.

ZIP 07407 29%Benchmark 30%
State income tax1.4–10.75%
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Schools nearby

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