The ZIP Code maps and database are updated 4 times per year.
Database updated: August 1, 2019, Maps updated: August 2, 2019.
HOUSING AFFORDABILITY INDEX
|Madison, NJ 07940 Housing Affordability Index is 91
State of New Jersey Housing Affordability Index is 91
|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.|
|Madison, NJ 07940 Wealth Index is 263
State of New Jersey Wealth Index is 148
|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.|
These new demographic attributes are availiable for cities, Counties, ZIP Codes and even neighborhoods (Census Blocks) when you search by a specific New Jersey address.
|Population in Households||14,943|
|Population in Familes||12,416|
|Population in Group Qrtrs||1,659|
|Median Household Income||$139,312|
|Average Household Income||$199,218|
|Per Capita Income||$68,885|
|Total Housing Units||6,047 (100%)|
|Owner Occupied HU||3,470 (57.4%)|
|Renter Occupied HU||2,256 (37.3%)|
|Vacant Housing Units||321 ( 5.3%)|
|Median Home Value||$716,245|
|Housing Affordability Index2||91|
|Average Household Size||2.61|
|Average Family Size||3|
GROWTH RATE / YEAR
|Median Household Income||1.82%|
|Per Capita Income||1.84%|
The table below compares 07940 to the other 582 ZIP Codes in New Jersey by rank and percentile using July 1, 2019 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.
|Total Population||# 205||65th|
|Population Density||# 195||67th|
|Diversity Index||# 304||48th|
|Median Household Income||# 82||86th|
|Per Capita Income||# 81||86th|
Additional comparisons and rankings can be made with a VERY EASY TO USE New Jersey Census Data Comparison Tool.