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Garwood borough, NJ

ZIP 07027 — Housing & Real Estate

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

Upper Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07027

Median Home Value
$509,800
Median Rent
$1,457
Affordability Snapshot
$140,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,275/mo PITI).

17%
Rent-to-Income Ratio

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

5.1x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

29.2 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 07027 in Garwood borough, NJ, a household would need roughly $140,000 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 $3,275. That is about 39% above the local median household income ($100,948), 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

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
54.8%-16% vs US avg
x
Vacancy Rate
1.9%-82% vs US avg
x
Broadband Access
92.0%+6% vs US avg
x
4+ Bedrooms
0.7%-95% vs US avg
x
Built Pre-1939
13.9%+8% vs US avg
x
Built Post-2014
1.4%-80% vs US avg
x
Rent Burden >30%
7.4%-85% vs US avg
x
Mortgage-Free
38.3%+0% vs US avg
x
$509,800
Home Value
$1,457
Rent
1953
Year Built
2012
Moved In

Residents have lived here since ~2012 on average

Housing Structure

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

  • 1-unit detached44.8%
  • 1-unit attached3.7%
  • 2-9 units41.5%
  • 10+ units10.0%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$509,800
Median rent$1,457
Owner-occupied54.8%
Vacant1.9%
Price-to-income5.1x
Est. income to buy$140,000