ZIP Code 07078

Households in ZIP code 07078, near Newark, report a median income of $250,001, with per-capita income at $166,888. That earning power meets a housing market where the median home value is $1,679,200. At the county's 1.91% effective property tax rate, a home at that value would generate an annual property tax bill of roughly $32,000, a significant line item even at these income levels. Sales taxes add 6.62% to purchases in the area. The combination of steep housing costs and strong incomes shapes a budget where property taxes claim a meaningful share of annual earnings.