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Area data

Madison, NJ — ZIP 07940

Population: 17,610 (Census ACS)

The median home value in ZIP 07940 (Madison, NJ) is $1.08M — up 7.8% over the past year. Homes sell for a median $2.45M after a median 52 days on market. Typical rent runs $3,485/month. 5 schools serve the area (NCES). FEMA's National Risk Index rates the county's overall natural-hazard risk Relatively Moderate, with winterweather, coldwave, inlandflooding the top-rated hazards. Cost of living is 12.5% above the US average (BEA, metro/state-level).

Backed by 25+ public sourcesFEMA · U.S. Census · NOAA · Dept. of Education · EPA · and more

$1.08M

Median home value

+7.8%

1-year change

52

Median days on market

Relatively Moderate

Hazard risk (county)

Home values & appreciation

Median home value
$1.08M
1-year appreciation
+7.8%
3-year appreciation
+20.6%
5-year appreciation
+37.0%
10-year appreciation
+52.6%
All-time peak (2026-07)
$1.08M
House Price Index (state)
430.8 (+5.2% YoY)

Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)

Market activity

Median sale price
$2.45M
Median list price
$1.35M
Median price per sqft
$741
1-year sale-price change
+96.0%
Median days on market
52 days
Homes sold (recent period)
3
For-sale inventory
21
Sale-to-list ratio
100.0%
Active listings
1
1-year forecast
+2.8%
New listings (monthly)
12

Source: recent area sales and market data (ZIP-level)

Rents

Typical rent
$3,485/mo
1-year rent change
+4.2%
Studio fair-market rent
$1,385/mo
1BR fair-market rent
$1,731/mo
2BR fair-market rent
$2,099/mo
3BR fair-market rent
$2,729/mo
4BR fair-market rent
$3,149/mo

Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)

Affordability

Cost of living index (High)
112.5 (100 = US avg)
Electricity rate (state-level)
22.6¢/kWh
Natural gas rate (state-level)
$14.20/MCF
30-year mortgage rate (national)
6.66%
15-year mortgage rate (national)
6.00%

Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)

Schools

Total schools
5
Elementary schools
3
Middle schools
1
High schools
1
Schools include
Madison High School, Central Avenue School, Kings Road School, Madison Junior School, Torey J. Sabatini School

Source: NCES school directory, 2022-23 (school-address-based)

Natural hazards & flood risk

Overall hazard risk (county)
Relatively Moderate
Top hazards (county)
winterWeather, coldWave, inlandFlooding, lightning, strongWind
Notable hazard ratings (county)
coldWave: Relatively High · drought: Relatively Moderate · earthquake: Relatively Low · heatWave: Relatively Moderate · hurricane: Relatively Moderate · iceStorm: Relatively Low
FEMA flood zone
X
Flood risk level
Minimal
Wildfire risk to homes (county)
Higher than 23% of US counties
Buildings in wildfire direct-exposure zone
62.3%
Radon potential (county)
High radon potential — EPA Zone 1 of 3
EPA Superfund (NPL) sites within 5 mi
1
Nearest Superfund site
Rolling Knolls Landfill (2.6 mi)
EPA recommends radon testing for every home regardless of zone.

Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL

Climate (30-year normals)

Annual precipitation
52.2 in
USDA plant hardiness zone
7a (extreme annual low 0 to 5°F)

Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)

Air quality

Air quality rating
Good
Median AQI (annual)
37
Days with Good air quality
314
Days with Moderate air quality
43
Days with Unhealthy air quality
2
Highest AQI recorded (year)
154

Source: EPA air quality data (nearest monitoring station, annual)

Walkability & transit

Walkability index
5.7 / 20
Transit service frequency
-99,999
Jobs reachable by car (30 min)
244,211
Jobs reachable by transit (45 min)
187,360

Source: EPA Smart Location Database (metropolitan block groups)

Amenities

National parks within ~60 mi
22
Nearest national park
Morristown National Historical Park (6 mi)
National parks include
Morristown National Historical Park, Thomas Edison National Historical Park, Paterson Great Falls National Historical Park
Airports within 30 mi
26
Nearest airport
Morristown Municipal Airport (MMU) (3 mi)
Nearest major airport
Morristown Municipal Airport (MMU) (3 mi)
Hospitals nearby (~15 mi)
28
Hospitals include
NEWARK BETH ISRAEL MEDICAL CENTER, ST MARY'S GENERAL HOSPITAL, CLARA MAASS MEDICAL CENTER
Avg hospital rating (CMS)
2.6 / 5
Best hospital rating nearby (CMS)
4.0 / 5
Solar radiation rating
Fair (4.0 kWh/m²/day)

Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)

Migration

Net migration (county)
-752 tax filers

Source: IRS county-to-county migration data (county-level, ~12-month lag)

Housing stock

Median year housing built
1,961
Housing built before 1970
62.5%
Housing built 2000 or later
17.0%
Median annual property tax
$10,001
Mean commute to work
20 min
Households with broadband internet
87.0%

Source: Census ACS 5-year estimates (ZIP-level)

Employment & development

Total county employment
268,704
Average weekly wage
$1,945
Top industries (by employment)
Health Care, Professional Services, Administrative Services
Annual residential building permits (county)
588

Sources: BLS QCEW (county-level) · Census Building Permits (county-level)

How it compares

ZIP 07940State medianUS median
Median home value$1.08M$577,759$289,727
Median sale price$2.45M$555,000$325,000
Median days on market52 days42 days51 days
Typical rent$3,485/mo$2,540/mo$1,808/mo
Median annual property tax$10,001$9,504$2,006

State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.

Area data compiled from public government, academic, and industry research feeds. Data sources →

Common questions

What is the median home value in ZIP 07940?
$1.08M.
What is the median sale price in ZIP 07940?
$2.45M.
How long do homes take to sell in ZIP 07940?
Median days on market: 52 days.
What is typical rent in ZIP 07940?
Typical rent: $3,485/month.
What is the natural-hazard risk in ZIP 07940?
Overall risk: Relatively Moderate (FEMA NRI, county-level). Top hazards: winterWeather, coldWave, inlandFlooding, lightning, strongWind.
Is ZIP 07940 in a flood zone?
Minimal (FEMA NFIP). FEMA flood zone X.
What is the wildfire risk in ZIP 07940?
Risk to homes is higher than 23% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
What is the radon potential in ZIP 07940?
High radon potential — EPA Zone 1 of 3, county-level. EPA recommends testing every home regardless of zone.
Are there Superfund sites near ZIP 07940?
1 current or proposed National Priorities List site within 5 miles (EPA). Nearest site: Rolling Knolls Landfill, 2.6 mi.
How many schools serve ZIP 07940?
5 schools (3 elementary, 1 middle, 1 high) (NCES, 2022-23).
Is ZIP 07940 walkable?
Walkability index: 5.7/20 (EPA Smart Location Database).
What is the air quality in ZIP 07940?
Good. Median AQI: 37. (EPA AQI).
What is the cost of living in ZIP 07940?
Regional Price Parity: 112.5 (100 = US average) (High) (BEA RPP, metro/state-level).

Nearby ZIP codes

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Data last updated

Most recent source refresh: Sep 2026. See all data sources →

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