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Cranford CDP, NJ

ZIP 07016 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07016

Median Home Value
$635,800
Median Rent
$1,986
Affordability Snapshot
$175,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$4,084/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.3x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

26.7 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 07016 in Cranford CDP, NJ, a household would need roughly $175,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $4,084. That is about 18% above the local median household income ($148,629), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
78.4%+20% vs US avg
x
Vacancy Rate
2.2%-79% vs US avg
x
Broadband Access
91.2%+5% vs US avg
x
4+ Bedrooms
7.4%-50% vs US avg
x
Built Pre-1939
16.1%+26% vs US avg
x
Built Post-2014
0.5%-93% vs US avg
x
Rent Burden >30%
15.1%-70% vs US avg
x
Mortgage-Free
33.2%-13% vs US avg
x
$635,800
Home Value
$1,986
Rent
1951
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached72.4%
  • 1-unit attached2.8%
  • 2-9 units11.6%
  • 10+ units13.2%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$635,800
Median rent$1,986
Owner-occupied78.4%
Vacant2.2%
Price-to-income4.3x
Est. income to buy$175,000