ZIP Code 07205

In ZIP code 07205, near Elizabeth, homes carry a median value of $397,400, and the county-level property tax rate of 1.89% translates to roughly $7,500 in annual taxes on such a home. With median household income at $99,528 and per-capita income at $37,421, that tax bill absorbs a meaningful share of earnings, though household income covers it without straining the budget excessively. Buyers weighing a purchase here should also account for the 6.62% combined sales tax, which adds to everyday costs. The gap between per-capita and household income hints at larger or multi-earner households supporting these housing expenses.