Zip lookup · NJ

07901
Summit, New Jersey.

Summit, Union County, NJ · New York-Newark-Jersey City, NY-NJ-PA metro · population 24,314

What it costs per month · 07901 $7,353/mo

to buy the typical home at today's mortgage rate — +$4,218 (+135%) since Jan 2020.

What the home itself did
1 year
Up $160,705 +13%
$1,240,277$1,400,982 since Sep 2025
5 years
Up $438,337 +46%
$962,645$1,400,982 since Sep 2021

Monthly payment to buy the typical home

Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.

$2,500 $5,000 $7,500 2002 2006 2010 2014 2018 2022 2026 07901 $7,353 United States $1,922
$2,500 $5,000 $7,500 2002 2010 2018 2026
  • 07901$7,353
  • United States$1,922

At the last five years' pace, a typical home here doubles in price every 9 years.

Typical home values in zip 07901 rose 13.0% over the past year — faster than the nation's +1.2%.

Asking rents in zip 07901 rose 1.2% over the past year — slower than the nation's +2.7%.

Owning the typical home in zip 07901 runs $8,082/mo more than renting one — the widest that gap has been in this data.

That is $11,060 a month against $2,977 rent: a $7,353 mortgage payment, plus $2,206 property tax and $1,500 insurance & upkeep.

Owning vs renting — zip 07901

The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.

$2,500 $5,000 $7,500 $10,000 2020 2021 2022 2023 2024 2025 2026 Owning all in $11,060 Renting $2,977 Mortgage only $7,353
$2,500 $5,000 $7,500 $10,000 2020 2022 2024 2026
  • Owning all in$11,060
  • Renting$2,977
  • Mortgage only$7,353

Property tax · $2,206/mo 1.89% of value a year — the ACS 2020-2024 median bill over the median home value for Union County, NJ

Insurance & upkeep · $1,500/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.

Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.

Zillow also publishes an index for the city itself: Summit, NJ — measured over the city limits, which is a different area from this zip.

Asking rent $2,977 as of Sep 2026
+1.2%year on year
Typical home value $1,400,982 as of Sep 2026
+13.0%year on year

Asking rent — 07901

Against the New York-Newark-Jersey City, NY-NJ-PA metro and the national benchmark.

$1,500 $2,000 $2,500 $3,000 $3,500 2020 2021 2022 2023 2024 2025 2026 07901 $2,977 New York $3,546 United States $1,932
$1,500 $2,000 $2,500 $3,000 $3,500 2020 2022 2024 2026
  • 07901$2,977
  • New York$3,546
  • United States$1,932

Typical home value — 07901

Mid-tier homes, smoothed and seasonally adjusted.

$250,000 $500,000 $750,000 $1,000,000 $1,250,000 2018 2020 2022 2024 2026 07901 $1,400,982 New York $730,949 United States $366,157
$250,000 $500,000 $750,000 $1,000,000 $1,250,000 2018 2022 2026
  • 07901$1,400,982
  • New York$730,949
  • United States$366,157

Within 20 miles

Showing 30 of 219 zips in range — sorting picks from all 219.

10 mi 20 mi 50 mi
Miles Zip City Population Rent Home value
2.3 07974 New Providence 13,349 $3,198 $1,004,734
2.3 07092 Mountainside 7,049 — $1,048,067
2.4 07081 Springfield 17,171 $2,617 $700,286
2.6 07928 Chatham 19,974 $3,106 $1,369,976
2.8 07078 Short Hills 14,613 $7,342 $2,379,910
3.5 07041 Millburn 7,532 $3,196 $1,304,113
4.2 07940 Madison 17,610 $3,423 $1,061,502
4.2 07922 Berkeley Heights 12,195 $3,336 $937,843
4.3 07088 Vauxhall 2,901 — $465,238
4.5 07090 Westfield 31,111 $2,973 $1,305,612
4.5 07932 Florham Park 11,977 $3,724 $1,050,627
4.8 07033 Kenilworth 8,401 — $625,327
4.8 07935 Green Village 584 — $1,093,067
4.9 07027 Garwood 4,885 — $677,525
5.1 07040 Maplewood 25,613 $2,875 $960,088
5.1 07023 Fanwood 7,799 — $802,498
5.2 07016 Cranford 24,074 $3,119 $773,488
5.3 07083 Union 58,170 $2,586 $576,973
5.3 07039 Livingston 31,488 $4,260 $1,092,365
5.5 07933 Gillette 2,995 — $769,592
5.6 07076 Scotch Plains 24,843 $2,923 $837,431
5.9 07976 New Vernon 389 — $2,117,912
6.0 07079 South Orange 18,539 $3,094 $1,065,701
6.1 07062 Plainfield 15,399 $2,307 $496,751
6.2 07204 Roselle Park 14,093 $2,527 $542,262
6.3 07069 Watchung 6,623 $2,540 $1,079,625
7.0 07203 Roselle 22,646 $2,488 $516,454
7.1 07066 Clark 15,622 $2,350 $717,896
7.1 07111 Irvington 60,867 $1,920 $419,974
7.2 07936 East Hanover 11,152 $3,363 $855,646

Coordinates and population from SimpleMaps US Zips (Basic). Rent and home values from Zillow Research.