Zip 07940 (Madison, NJ) Housing

The housing market in 07940 Madison, NJ is quite robust. The median value of housing is currently $842,600, which is significantly higher than the US House Median Value of $338,100. In the last year, the appreciation for houses in Madison has been 6.48%, which is lower than the US 1 year House Appreciation rate of 8.27%. Despite this lower rate of appreciation for homes in Madison, it still remains a desirable area to live and buyers are willing to pay a premium to live there.

The median home cost in Madison (zip 07940) is $842,600. Home appreciation the last 10 years has been 44.3%. Home Appreciation in Madison (zip 07940) is up 12.1%.

Average Age of Homes

- The median age of Madison (zip 07940) real estate is 63 years old

The Rental Market in Madison (zip 07940)

- Renters make up 28.5% of the Madison (zip 07940) population
- 0.4% of houses and apartments in Madison (zip 07940), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Madison, New Jersey	United States
	5,961.0	139,647,020.0
	64	42
	$842,600	$338,100
	12.1%	16.6%
	29.3%	57.0%
	44.3%	101.1%
	$22.02	$10.98
	$10,001	$2,690
	61.4%	57.4%
	4.2%	11.2%
	34.3%	31.4%
Vacant Housing
	0.4%	1.9%
	0.1%	0.4%
	1.3%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	2.3%	4.1%
Value of Owner-Occupied Housing
	0.4%	2.6%
	0.0%	2.4%
	1.1%	2.8%
	0.6%	3.9%
	0.0%	4.5%
	0.0%	11.3%
	0.0%	13.0%
	0.9%	20.1%
	5.8%	13.6%
	5.2%	8.3%
	36.2%	9.7%
	23.2%	3.9%
	16.2%	2.2%
	8.0%	0.8%
	2.3%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	4.1%	13.6%
	4.1%	13.6%
	6.7%	13.6%
	7.7%	13.2%
	3.7%	14.8%
	6.7%	13.6%
	21.1%	10.0%
	7.9%	4.7%
	26.8%	12.2%

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