08848 ZIP Code Demographics & Rankings

ZIP Code Type: STANDARD
County: Hunterdon County
Centroid: Latitude 40.597, Longitude -75.092
Time Zone: Eastern Time Zone (UTC -5 hours)
Observes DST: Yes

ZIP Code 08848 has segments in 2 Counties (Hunterdon, Warren).

Businesses Addresses: 155
PO Box Addresses: 169
Residential Addresses: 3,149

Multi-Family Addresses: 51
Single Family Addresses: 3,098

The ZIP Code maps and database are updated 4 times per year.
Database updated: October 1, 2020, Maps updated: November 4, 2020.

Milford, NJ 08848 Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	8,422 (100%)
Population in Households	8,405 (99.8%)
Population in Families	7,390 (87.7%)
Population in Group Quarters¹	17 ( 0.2%)
Population Density	248
Diversity Index²	15


INCOME
Median Household Income	$100,406
Average Household Income	$129,081
% of Income for Mortgage⁴	15%
Per Capita Income	$48,879
Wealth Index⁵	191

HOUSING
Total HU (Housing Units)	3,425 (100%)
Owner Occupied HU	2,784 (81.3%)
Renter Occupied HU	405 (11.8%)
Vacant Housing Units	236 ( 6.9%)
Median Home Value	$364,591
Average Home Value	$415,930
Housing Affordability Index³	136

HOUSEHOLDS
Total Households	3,189
Average Household Size	2.64
Family Households	2,424
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.

Milford, NJ 08848 - Peer Comparisons by Rank and Percentile

The table below compares 08848 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	-0.19%	-0.23%
Households	-0.07%	-0.16%
Families	-0.12%	-0.17%
Median Household Income		1.51%
Per Capita Income		1.93%
Owner Occupied HU		-0.09%

Variable Description	Rank	Percentile
Total Population	# 346	40th
Population Density	# 506	12th
Median Household Income	# 236	59th
Housing Affordability Index	# 326	57th
Per Capita Income	# 232	60th
Diversity Index	# 553	4th

Milford, NJ 08848 ZIP Code Profile

ZIP Code 08848: Basic Data & USPS Preferred City Name

Milford, NJ 08848 Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Milford, NJ 08848 - Peer Comparisons by Rank and Percentile

Popular Places Near ZIP Code 08848

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