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Summit city, NJ

ZIP 07901 — Housing & Real Estate

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

Wealthy AreaLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 07901

Median Home Value
$958,700
Median Rent
$2,112
Affordability Snapshot
$264,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$6,158/mo PITI).

14%
Rent-to-Income Ratio

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

5.4x
Home Price-to-Income Ratio

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

37.8 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 07901 in Summit city, NJ, a household would need roughly $264,000 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 $6,158. That is about 48% above the local median household income ($177,986), 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

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
69.0%+5% vs US avg
x
Vacancy Rate
5.0%-52% vs US avg
x
Broadband Access
96.1%+11% vs US avg
x
4+ Bedrooms
16.2%+9% vs US avg
x
Built Pre-1939
7.4%-42% vs US avg
x
Built Post-2014
0.2%-98% vs US avg
x
Rent Burden >30%
14.7%-71% vs US avg
x
Mortgage-Free
29.2%-24% vs US avg
x
$958,700
Home Value
$2,112
Rent
1954
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 detached64.5%
  • 1-unit attached6.6%
  • 2-9 units14.6%
  • 10+ units14.1%
  • Mobile home & other0.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$958,700
Median rent$2,112
Owner-occupied69.0%
Vacant5.0%
Price-to-income5.4x
Est. income to buy$264,000