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Rental Insights for ZIP Code 07202 (Elizabeth, NJ)

Housing Rentals in ZIP Code 07202 (Elizabeth, NJ)

07202 ZIP Code in New Jersey

Learn About Housing Rentals in ZIP Code 07202

ZIP Code 07202 is primarily located in Elizabeth, NJ in Union County. The estimated median housing rent in this region of New Jersey is $1,162 per month. About 76.5% of housing units in this Union County ZIP Code are renter-occupied, and the region has an approximate rental vacancy rate of 3.4%.

The median rent in ZIP Code 07202 of $1,162 per month is 13% lower than the aggregate New Jersey median monthly rent of $1,334, and is 9% higher than the $1,062 the median monthly rent in the U.S. overall. Approximately 48.4% of residents in ZIP Code 07202 pay between $1,000 and $1,499 per month for rent. That is 25% higher than in New Jersey overall, in which 38.7% of total state residents pay between $1,000 and $1,499 per month for housing. Just 0.4% of renters in this Elizabeth, NJ region pay between $2,500 and $2,999 for monthly rent.

ZIP Code 07202 Rental FAQs and Quick Facts

Monthly Rent in ZIP Code 07202

See the chart below for a comparison of monthly rental costs in ZIP Code 07202, New Jersey, and also in the U.S. as a whole.

This chart visualizes housing rental cost ranges in ZIP Code 07202 along with those in the state of New Jersey and the U.S. overall. For example, what percentage of renters pay between $1,000 and $1,499 monthly.

Rental Cost in ZIP Code 07202

See the table below for the regional comparison of monthly rental costs.

Cost ZIP 07202 New Jersey U.S.
Less than $500 6.5% 8.0% 9.4%
$500 to $999 24.6% 16.0% 36.2%
$1,000 to $1,499 48.4% 38.7% 30.0%
$1,500 to $1,999 17.8% 22.0% 14.0%
$2,000 to $2,499 2.3% 8.5% 5.6%
$2,500 to $2,999 0.4% 3.6% 2.4%
$3,000 or more 0.0% 3.1% 2.4%

Rent Cost vs. Income in ZIP Code 07202

Renters in ZIP Code 07202 use an estimated 29.74% of their income to cover their monthly rent payments. That is about 2% lower than in New Jersey overall. The estimate for New Jersey overall is 30.35% of income used for housing rent payments. In comparison to the U.S. as a whole, ZIP Code 07202 renters use about 0% less of their income to cover rent expense. Household income figures for ZIP Code 07202 come in lower than in New Jersey as a whole. The median annual household income in ZIP Code 07202 of $50,970 sits approximately 38% lower than the overall New Jersey median income of $82,545 and approximately 19% lower than median income of $62,843 in the U.S. as a whole.

Rent as a Percentage of Income in ZIP Code 07202

See the chart below for a comparison of monthly rent cost vs. household income in ZIP Code 07202, New Jersey, and also in the U.S. as a whole.

This chart visualizes monthly rent cost as a percentage of household income in ZIP Code 07202 along with the same calculations in the state of New Jersey and the U.S. overall. For example, what percentage of renters pay 15.0 to 19.9 percent of the monthly household income toward rent.

Rent as a Percentage of Income in ZIP Code 07202

See the table below for the regional comparison of monthly rent as a percentage of household income.

Rent Cost as % of Income ZIP 07202 New Jersey U.S.
Less than 15.0 percent 12.5% 12.1% 13.1%
15.0 to 19.9 percent 14.3% 12.4% 12.9%
20.0 to 24.9 percent 12.1% 12.6% 12.9%
25.0 to 29.9 percent 11.0% 11.6% 11.6%
30.0 to 34.9 percent 10.5% 9.0% 9.1%
35.0 percent or more 39.6% 42.4% 40.5%

Household Income in ZIP Code 07202

See the table below for the regional comparison of annual household income in ZIP Code 07202.

Income ZIP 07202 New Jersey U.S.
Less than $10,000 6.6% 4.9% 6.0%
$10,000 to $14,999 4.0% 3.2% 4.3%
$15,000 to $24,999 11.1% 7.1% 8.9%
$25,000 to $34,999 9.3% 6.9% 8.9%
$35,000 to $49,999 17.8% 9.4% 12.3%
$50,000 to $74,999 18.8% 14.6% 17.2%
$75,000 to $99,999 14.0% 12.1% 12.7%
$100,000 to $149,999 12.9% 17.7% 15.1%
$150,000 to $199,999 3.5% 10.1% 6.8%
$200,000 or more 2.1% 14.0% 7.7%

Household Income in ZIP Code 07202

See the chart below for a comparison of annual household income figures in ZIP Code 07202, New Jersey, and also in the U.S. overall.

This chart visualizes annual household income in ZIP Code 07202 alongside the same figures for the state of New Jersey and also for the entire U.S.

Miscellaneous Related Stats on ZIP Code 07202

See the table below for the regional comparison of miscellaneous data and information related to housing, rentals, and income in ZIP Code 07202.

ZIP 07202 New Jersey U.S.
Median Housing Rent $1,162 $1,334 $1,062
Renter-Occupied Housing Units 76.5% 36.1% 36.0%
Rental Vacancy Rate 3.4% 4.8% 6.0%
Average Size of Renter-Occupied Unit 3.02 2.50 2.49
Average # of Bedrooms Per Unit 2.04 2.75 2.75
Percent of Income Spent on Rent 29.74% 30.35% 29.83%
Per Capita Income $21,897 $42,745 $34,103
Median Household Income $65,082 $114,691 $88,607
Living Below the Poverty Line 14.3% 7.2% 9.5%

Summary of Rental-related Data and Stats for ZIP Code 07202

In ZIP Code 07202 (Elizabeth, NJ), and estimated 76.5% of housing units are occupied by renters. This region has an approximate rental vacany rate of 3.4%.

The per capita income in 07202 is estimated at $21,897, which goes along with an estimated median household income of $65,082. About 14.3% of residents in this Union County region live below the poverty line.

Among renter-occupied units in this ZIP, the average occupancy is 3.02 occupants, while the units have an aggregate average size of 2.04 bedrooms per unit.

Renters in this ZIP-defined region spend an average of 29.74% of their income on housing rental costs.

Rental FAQs for ZIP Code 07202

1

What is the median monthly rent in ZIP Code 07202?

Median rent for housing in ZIP Code 07202 in Union County in New Jersey is approximately $1,162 per month.
2

Is it expensive to rent in ZIP Code 07202?

Rent in ZIP Code 07202 is lower than average in the state of New Jersey overall. The median monthly rent of $1,162 in ZIP Code 07202 is approximately 13% lower than the New Jersey median of $1,334. Additionally, median rent in this Elizabeth, NJ region ($1,162) is about 9% higher than median monthly rent cost of $1,062 in the U.S. overall.
3

Are high-priced rentals common in ZIP Code 07202?

High-priced rentals are not common in the Elizabeth, NJ ZIP Code of 07202, as the region has no rentals costing $3,000 or more per month. In contrast, in the state of New Jersey overall, approximately 3.1% of rentals fall in this upper tier of $3,000 or more per month.
4

Are affordable rentals common in ZIP Code 07202?

Affordable rentals are more common in ZIP Code 07202 than in New Jersey overall. The percentage of housing rentals in ZIP Code 07202 costing $999 or less per month (31.1%) is approximately 30% higher than the New Jersey rate of 24% that fall in that range. In addition, the aggregate U.S. rate of 45.6% paying $999 or less per month is about 32% higher than the previously mentioned 07202 rate of 31.1%.
5

What is the most common cost range that rentals fall into in ZIP Code 07202?

The most common range for rental cost in ZIP Code 07202 is between $1,000 and $1,499 per month. About 48.4% of renters in 07202 pay in this range for monthly rent. In comparison, approximately 38.7% of renters in the state of New Jersey fall in the between $1,000 and $1,499 range, and 30.0% of overall U.S. renters fall in this range.
6

Does ZIP Code 07202 have a high rental vacancy rate?

The rental vacancy rate in ZIP Code 07202 is lower than the rental vacancy rate in the state of New Jersey overall. Rental vacancy of 3.4% in ZIP Code 07202 is about 29% lower than the New Jersey rate of 4.8%. Looking more broadly, rental vacancy in this Elizabeth, NJ region (3.4%) is an estimated 43% lower than the estimated rental vacancy rate of 6.0% in the U.S. overall.
7

What is the average household income in ZIP Code 07202? How does it compare to other New Jersey regions?

Median household income in ZIP Code 07202 is lower than in the state of New Jersey overall. Annual household income of $50,970 in ZIP Code 07202 is about 38% lower than the New Jersey median of $82,545. Additionally, median household income in this Elizabeth, NJ region ($50,970) is approximately 19% lower than median household income of $62,843 in the U.S. as a whole.
8

How much of their income do renters in ZIP Code 07202 spend on housing costs?

Renters in ZIP Code 07202 spend a lower amount of their income on rent costs than do renters in New Jersey overall. Renters in ZIP Code 07202 spend an estimated 29.74% of their income on rent payments, which is about 2% lower than the overall New Jersey estimated rate of 30.35%. In addition, the aggregate U.S. estimated rate of 29.83% of income spent on housing rental costs is about 0% higher than the ZIP Code 07202 estimated rate of 29.74%.
9

Do renters in ZIP Code 07202 typically spend a large portion of their income on rent payments?

It is uncommon for renters in ZIP Code 07202 to spend a large portion of their income on monthly housing. The percentage of renters in ZIP Code 07202 spending 30 percent or more of their income on rent costs (50.1%) is approximately 3% lower than the New Jersey rate of 51.4% that spend that much. In addition, the overall U.S. rate of 49.6% paying 30 percent or more of their income on rent costs is about 1% lower than the aforementioned 07202 rate of 50.1%.
10

What is the average household size of renter-occupied units in ZIP Code 07202?

The average household size of renter-occupied units in ZIP Code 07202 is higher than in the state of New Jersey overall. Annual household size of 3.02 in ZIP Code 07202 is about 21% higher than the New Jersey median of 2.50. Additionally, median household size in this Elizabeth, NJ region (3.02) is approximately 21% higher than median household size of 2.49 in the U.S. as a whole.

Rental Insights for other New Jersey ZIP Codes