ZIP Code 07003

ZIP code 07003, near Newark, sits in middle-to-upper-income territory, with a median household income of $103,663 and per-capita income of $54,968. Homes here carry a median value of $470,600, and the county-level effective property tax rate of 1.91% means owners face a substantial annual bill tied to that valuation. Add a combined sales tax rate of 6.62%, and the overall tax picture is meaningful but consistent with a community whose earnings and property values run above statewide norms. Households here generally have the income to absorb these costs while building equity in higher-priced housing.