ZIP 07950
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12-month history
Last updated: October 17, 2026
What the numbers show
Rent in ZIP 07950 is at its highest level since Zillow's records here began in March 2022.
Rent in ZIP 07950 changed +3.7% over the year to September 2026. Across the 149 New Jersey ZIP codes Zillow tracks, the typical change was +2.8%.
Rent has risen 5 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($153,762) is $3,844 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($3,310); a 3-bedroom is $4,140.
ZIP 07054, 4 miles away, rents for 20% less ($2,832/mo), about $8,400 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 07950. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 07950 (Morris Plains, NJ) is majority owner-occupied, has a median income above the national average, 66.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 07950 in Morris Plains, NJ has changed in 5 years
Five years ago, renters in ZIP 07950 in Morris Plains, NJ paid around $3,050 a month. That figure now sits near $3,532, up 15.8% from the 2022 baseline. Median household income climbed from $134,726 to $153,762 between 2021 and 2024, a 14.1% shift. Census counts show ZIP 07950 in Morris Plains, NJ adding about 583 residents over the five-year window, up 2.8% on net. Bachelor's-degree-or-higher attainment moved from 63.9% to 66.1% across the same window. Taken together, the five-year picture in ZIP 07950 in Morris Plains, 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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Tips for renters in ZIP 07950
Last updated: October 17, 2026
ZIP code 07950 covers Morris Plains, NJ. The median rent here is $3,532/mo as of October 2026. A 1-bedroom rents for a median of $2,740/mo. A 2-bedroom rents for a median of $3,310/mo.
At 28% of local median household income ($153,762/yr), ZIP 07950 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.7% over the past year.
Frequently asked questions
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How does ZIP 07950 compare to other ZIPs in New Jersey?
How does ZIP 07950 compare to the rest of Morris Plains?
At $3,532/mo, rent takes ~28% of ZIP 07950's median household income ($153,762/yr). The standard benchmark is 30%.
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