07920 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Somerset County
Centroid: Latitude 40.685, Longitude -74.572
Time Zone: Eastern Time Zone (UTC -5 hours)
Observes DST: Yes

ZIP Code 07920 has segments in 2 Counties (Morris, Somerset).

Businesses Addresses: 574
PO Box Addresses: 153
Residential Addresses: 10,527

Multi-Family Addresses: 555
Single Family Addresses: 9,972

The ZIP Code maps and database are updated 4 times per year.
Database updated: January 1, 2021, Maps updated: January 29, 2021.

Basking Ridge, NJ 07920 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	28,305 (100%)
Population in Households	27,406 (96.8%)
Population in Families	23,793 (84.1%)
Population in Group Quarters¹	899 ( 3.2%)
Population Density	968
Diversity Index²	45


INCOME
Median Household Income	$160,643
Average Household Income	$218,472
% of Income for Mortgage⁴	18%
Per Capita Income	$80,313
Wealth Index⁵	316

HOUSING
Total HU (Housing Units)	10,887 (100%)
Owner Occupied HU	8,763 (80.5%)
Renter Occupied HU	1,636 (15.0%)
Vacant Housing Units	488 ( 4.5%)
Median Home Value	$705,952
Average Home Value	$781,721
Housing Affordability Index³	124

HOUSEHOLDS
Total Households	10,399
Average Household Size	2.64
Family Households	7,319
Average Family Size	3

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

Basking Ridge, NJ 07920 - Peer Comparisons by Rank and Percentile

The table below compares 07920 to the other 575 ZIP Codes in New Jersey by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2010-2020	2020-2025
Population	0.15%	-0.09%
Households	0.04%	-0.12%
Families	-0.02%	-0.14%
Median Household Income		1.12%
Per Capita Income		1.44%
Owner Occupied HU		0.03%

Variable Description	Rank	Percentile
Total Population	# 102	82nd
Population Density	# 382	34th
Median Household Income	# 47	92nd
Housing Affordability Index	# 244	42nd
Per Capita Income	# 41	93rd
Diversity Index	# 306	47th

Basking Ridge, NJ 07920 ZIP Code Profile

ZIP Code 07920: Basic Data & USPS Preferred City Name

Basking Ridge, NJ 07920 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Basking Ridge, NJ 07920 - Peer Comparisons by Rank and Percentile

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