ZIP Code 07023
standardSource:
Fanwood · Union County · New Jersey
- Population
- 7,318
- Median income
- $195,529
- Median home value
- $635,200
- Bachelor's or higher
- 73.0%
- Land area
- 3.5 sq mi
2,109/sq mi
▲ 156% vs US
higher than 99% of US ZIPs
▲ 128% vs US
higher than 92% of US ZIPs
Median age 43.4
New York
ZIP code 07023 in Fanwood, New Jersey has a population of 7,318. The median household income is $195,529, which is 156% above the national average. Median home value is $635,200, 128% above the US average. 73.0% of residents hold a bachelor's degree or higher.
ZIP code 07023 is classified by USPS as a standard delivery area and covers roughly 3.5 square miles in Fanwood, Union County, New Jersey. The area is home to 7,318 residents, producing a population density of 2,109 people per square mile, and falls within the New York time zone. These USPS and Census boundary values drive every downstream statistic on this page, including the benchmarks that compare 07023 against New Jersey and the nation.
On the economic side, the median household income for ZIP 07023 sits at $195,529 (60% above the New Jersey average), while per-capita income is $72,810. The poverty rate stands at 1.0% and the unemployment rate at 2.7%. On housing, the median home value is $635,200 (23% above the state average) with median rent at $2,446 per month, and 84.9% of occupied units are owner-occupied, a direct signal of whether 07023 behaves more like a homeowner neighborhood or a renter-heavy ZIP.
Education and household profile round out the picture: 73.0% of adults hold a bachelor's degree or higher, the median age is 43.4, and the average commute is 42 minutes. We also surface 10 nearby ZIP codes within roughly 10 miles and 6 additional ZIPs sharing Union County, so you can benchmark 07023 against its immediate geography rather than a national average alone. Every figure is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates, HUD Fair Market Rents, and FHFA Home Price Index data, no estimates, no proprietary scoring. Verify with HUD →
Top industries in ZIP 07023
Top 5 sectors by establishment count
Which industries have the most business establishments in ZIP 07023.
- Health care and social assistance
Health care and social assistance
39 establishments
- Other services (except public administration)
Other services (except public administration)
29 establishments
- Professional, scientific, and technical services
Professional, scientific, and technical services
23 establishments
- Retail trade
Retail trade
16 establishments
- Administrative and support and waste management and remediation services
Administrative and support and waste management and remediation services
16 establishments
What this shows Establishment counts come from the Census ZIP Code Business Patterns program, which counts physical business locations rather than employees or revenue.
Source: U.S. Census Bureau, American Community Survey 5-Year Estimates + ZIP Code Business Patterns + HUD FMR + FHFA HPI ACS demographics, ZBP business establishments, HUD Fair Market Rents, FHFA HPI for ZIP 07023, Fanwood, NJ · 2023 Census ACS 5-Year Estimates use a rolling 60-month sample for stable small-geography estimates; ZBP updated annually; HUD FMR + FHFA HPI updated quarterly/annually.
Quick Facts
7,318
Population
3.5
Area (sq mi)
2,109
People / sq mi
New York
Time Zone
standard
ZIP Type
Who lives in ZIP 07023?
43.4
Median Age
48.4%
Male
51.6%
Female
16.0%
Foreign-Born
Hispanic or Latino is an ethnicity category from the Census Bureau and may overlap with other categories above.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How much do residents earn?
$195,529
Median Household Income
+60% vs state
$72,810
Per Capita Income
1.0%
Poverty Rate
2.7%
Unemployment Rate
41.6 min
Mean Commute Time
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What is the education profile here?
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
What does housing look like?
2,898
Total Housing Units
2,835
Occupied Units
63
Vacant Units
2.74
Avg Household Size
Occupancy Type
$635,200
Median Home Value
+23% vs state
$2,446
Median Rent
1954
Median Year Built
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023)
How have home values changed over time?
FHFA House Price Index, annual appreciation data based on repeat sales and appraisals
+13.7%
YoY Change (2024)
283
HPI Index (2000 = 100)
+183%
Total Change Since 2000
Home values in ZIP 07023 have increased 13.7% over the past year (2024). Since 2000, this ZIP has seen +183% cumulative appreciation.
| Year | Annual Change | HPI Index |
|---|---|---|
| 2020 | +3.4% | 192 |
| 2021 | +7.3% | 206 |
| 2022 | +11.3% | 229 |
| 2023 | +8.6% | 249 |
| 2024 | +13.7% | 283 |
Source: Federal Housing Finance Agency (FHFA) House Price Index, All-Transactions, Five-Digit ZIP Codes (Developmental Index). Index base = 100 in year 2000. Data through 2024. ZIP codes with few transactions may show missing values.
What businesses operate in this ZIP?
Census Bureau data shows 181 business establishments in ZIP 07023, employing approximately 2,664 people with a combined annual payroll of $101,992,000.
181
Businesses
2,664
Employees
$102.0M
Annual Payroll
13
Industry Sectors
| Industry | Establishments | % of Total |
|---|---|---|
| Health care and social assistance | 39 | 21.6% |
| Other services (except public administration) | 29 | 16.0% |
| Professional, scientific, and technical services | 23 | 12.7% |
| Retail trade | 16 | 8.8% |
| Administrative and support and waste management and remediation services | 16 | 8.8% |
| Accommodation and food services | 14 | 7.7% |
| Construction | 11 | 6.1% |
| Finance and insurance | 9 | 5.0% |
| Real estate and rental and leasing | 7 | 3.9% |
| Transportation and warehousing | 4 | 2.2% |
| Educational services | 4 | 2.2% |
| Arts, entertainment, and recreation | 4 | 2.2% |
| Wholesale trade | 3 | 1.7% |
Source: U.S. Census Bureau, ZIP Code Business Patterns (ZBP), 2023. Employment figures may include noise for disclosure avoidance.
Nearby ZIP Codes
Want a side-by-side? Compare 07023 vs 07076 →
| ZIP Code | City | Population | Distance |
|---|---|---|---|
| 07076 | Scotch Plains, NJ | 23,480 | 0.9 mi |
| 07062 | Plainfield, NJ | 12,949 | 1.2 mi |
| 07090 | Westfield, NJ | 30,338 | 2.3 mi |
| 07069 | Watchung, NJ | 6,157 | 2.8 mi |
| 07060 | Plainfield, NJ | 44,998 | 2.6 mi |
| 07092 | Mountainside, NJ | 6,730 | 3.0 mi |
| 07027 | Garwood, NJ | 4,226 | 3.3 mi |
| 07974 | New Providence, NJ | 11,768 | 3.9 mi |
| 07922 | Berkeley Heights, NJ | 12,246 | 3.2 mi |
| 08820 | Edison, NJ | 39,590 | 4.6 mi |
More ZIP Codes in Union County
Related Areas
Frequently Asked Questions
What county is ZIP code 07023 in? ▼
What is the population of ZIP code 07023? ▼
What is the median household income in ZIP 07023? ▼
What is the average home value in ZIP 07023? ▼
What is the demographic makeup of ZIP 07023? ▼
How many businesses are in ZIP code 07023? ▼
What are the main industries in ZIP code 07023? ▼
How have home values changed in ZIP code 07023? ▼
What is the education level in ZIP code 07023? ▼
What is the average commute time in ZIP 07023? ▼
What percentage of residents own vs. rent in ZIP 07023? ▼
What is the poverty rate in ZIP code 07023? ▼
ZIP Code Research Guides
Official Data Resources for Fanwood, NJ
Verify and explore additional data for this area using these official government sources.
Source: U.S. Census Bureau, ACS 5-Year Estimates (2023). Business data: Source: Census ZIP Code Business Patterns (ZBP) 2023. Home value trends: Source: FHFA House Price Index (HPI), Five-Digit ZIP Codes.
PlainZIP is not affiliated with the U.S. Census Bureau or any government agency.
Read our methodology , how this data is sourced, computed, and verified.