Fanwood, NJ · standard
ZIP Code 07023
Union County, New Jersey - Census ACS demographics, housing tenure, and business patterns, benchmarked against every US ZIP.
- 7,318
- 2,109/sq mi High-density area
- $195,529
- Median income Above-median income area
- $635,200
- Median home value Above-median home value
- 73.0%
- Bachelor's or higher Above-average bachelor's attainment
National ZIP placement
Fanwood pairs a top-decile household income with top-decile home values, in a suburban-density, homeowner-dominated area.
- Top 1%
- household income, US ZIPs
- Top 8%
- home value, US ZIPs
- 2,109
- people per sq mi
- 85%
- owner-occupied homes
Source: U.S. Census Bureau ACS 5-Year Estimates (2019–2023). Percentiles rank ZIP 07023 against every reporting US ZIP.
FHFA HPI release change
What changed in the latest House Price Index year
- FHFA House Price Index values in ZIP 07023 (Fanwood, NJ) rose +13.7% from 2023 to 2024. The all-transactions index moved from 249.1 in 2023 to 283.2 in 2024 (2000 = 100).
ZIP code 07023 is a mid-sized community (a standard USPS delivery area) in Fanwood, Union County, New Jersey, home to 7,318 residents across 3.5 square miles, a density of 2,109 people per square mile, in the New York time zone.
ZIP 07023 skews affluent, with a median household income of $195,529 (60% above the average New Jersey ZIP), while per-capita income is $72,810. Both reported hardship measures are comparatively low in absolute terms: poverty is 1.0% and unemployment is 2.7%. Housing is both higher-cost and owner-heavy: median home value is $635,200 (23% above the average New Jersey ZIP), while 84.9% of occupied homes are owner-occupied and median rent is $2,446.
This is a highly-educated ZIP: 73.0% of adults hold a bachelor's degree or higher, the median age is 43.4, and the average commute is 42 minutes. The page also surfaces 10 ZIP codes within roughly 10 miles and 6 more in Union County, so 07023 can be compared with both its immediate and county-level context.
Every figure on this page is sourced from the U.S. Census Bureau American Community Survey 5-Year Estimates (including median rent) and the FHFA House Price Index, no estimates, no proprietary scoring. Verify with Census →
Top industries in ZIP 07023
Top 5 sectors by establishment count in Fanwood, NJ
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 + FHFA HPI ACS demographics and median rent, ZBP business establishments, 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; 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 ZIP avg
$72,810
Per Capita Income
1.0%
Poverty Rate
2.7%
Unemployment Rate
41.6 min
Mean Commute Time
How ZIP 07023 ranks among New Jersey ZIPs
Fanwood, NJ household income vs. every New Jersey ZIP code
Median household income among 565 reporting New Jersey ZIPs (this ZIP's population is too small for a reliable national-corpus placement)
$195,529 Top 9% higher than 91% of 565 New Jersey ZIPs
Each bar is a $20K-wide band; taller bars hold more New Jersey ZIPs. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Census Bureau, ACS 5-Year Estimates · 2019–2023
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?
Housing stock: occupied vs vacant
2,898housing units
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 ZIP avg
$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 07023 vs its nearest neighbors, by population
Resident population of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 07060
Plainfield (07060)
44,998 residents
- 08820
Edison (08820)
39,590 residents
- 07090
Westfield (07090)
30,338 residents
- 07076
Scotch Plains (07076)
23,480 residents
- 07062 12,949
Plainfield (07062)
12,949 residents
- 07922 12,246
Berkeley Heights (07922)
12,246 residents
- 07974 11,768
New Providence (07974)
11,768 residents
- 07023 7,318
Fanwood (07023)
7,318 residents
- 07092 6,730
Mountainside (07092)
6,730 residents
What this shows Among its immediate neighbors, ZIP 07023 ranks #8 by population - useful context the national average alone can't give.
ZIP 07023 vs its nearest neighbors, by median income
Median household income of this ZIP and the closest reporting ZIP codes within ~10 miles.
- 07090
Westfield (07090)
$232,629 median income
- 07092
Mountainside (07092)
$211,538 median income
- 07922
Berkeley Heights (07922)
$202,944 median income
- 07023
Fanwood (07023)
$195,529 median income
- 07076
Scotch Plains (07076)
$183,655 median income
- 07974
New Providence (07974)
$172,894 median income
- 07069
Watchung (07069)
$171,705 median income
- 08820
Edison (08820)
$171,363 median income
- 07027
Garwood (07027)
$110,670 median income
What this shows By household income, ZIP 07023 ranks #4 of 9 neighboring ZIPs, local affluence varies block to block, not just metro to metro.
| 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 |
Nationwide ZIPs with similar ACS profiles
Two Census-derived peer sets for ZIP 07023, both outside NJ so the neighborhoods are not geographic containment (Nearby and same-county blocks stay local).
Similar population
Nearest cross-state ZIPs by resident population (7,318 here; floor ≥1,000).
Similar median household income
Nearest cross-state ZIPs by ACS median household income.
More ZIP Codes in Union County
Related Areas
Frequently Asked Questions
What county is ZIP code 07023 in?
ZIP code 07023 (Fanwood) is located in Union County, New Jersey. Union County contains multiple ZIP codes, see the full list at /counties/union-nj.
What is the population of ZIP code 07023?
ZIP code 07023 in Fanwood, NJ has a population of 7,318 according to the Census Bureau ACS 2023 estimates.
What is the median household income in ZIP 07023?
The median household income in ZIP 07023 is $195,529, which is 156% above the national average of $76,288.
What is the average home value in ZIP 07023?
The median home value in ZIP 07023 is $635,200, which is 128% above the national average of $278,155.
What is the demographic makeup of ZIP 07023?
The largest racial group in ZIP 07023 is White at 73.6%. Hispanic or Latino residents make up 11.2% of the population.
How many businesses are in ZIP code 07023?
ZIP code 07023 has 181 business establishments employing approximately 2,664 people, according to Census Bureau ZIP Code Business Patterns (ZBP) 2023 data.
What are the main industries in ZIP code 07023?
The top industries by establishment count in ZIP 07023 are: Health care and social assistance (39), Other services (except public administration) (29), Professional, scientific, and technical services (23). There are 13 industry sectors represented in total.
How have home values changed in ZIP code 07023?
According to the FHFA House Price Index, home values in ZIP 07023 increased by 13.7% in 2024. Since 2000, home values in this ZIP have appreciated by approximately 183%. This is a developmental index based on repeat sales and appraisal data from Fannie Mae and Freddie Mac.
What is the education level in ZIP code 07023?
In ZIP code 07023, 82.8% of residents aged 25+ have a high school diploma or higher, and 73.0% hold a bachelor's degree or higher. These figures come from the Census Bureau ACS 5-Year Estimates (2023).
What is the average commute time in ZIP 07023?
The mean commute time for workers in ZIP code 07023 is 41.6 minutes according to Census ACS data. The national average is roughly 26 minutes, so commuters here spend more time traveling to work than typical.
What percentage of residents own vs. rent in ZIP 07023?
In ZIP code 07023, approximately 84.9% of occupied housing units are owner-occupied and 15.1% are renter-occupied, based on Census ACS 2023 data.
What is the poverty rate in ZIP code 07023?
The poverty rate in ZIP code 07023 is 1.0% according to Census Bureau ACS 2023 estimates. This measures the percentage of the population living below the federal poverty threshold.
Related
Take this with you
What to do with ZIP 07023's numbers, next.
- See how ZIP 07023 compares to a neighboring ZIP code on the same Census fields Compare this ZIP
- Check where Fanwood, NJ ranks among every U.S. ZIP code on income, education, or homeownership View national rankings
- Save this ZIP to your shortlist to track alongside others you're considering View your shortlist
ZIP Code Tabulation Areas (ZCTAs) are Census Bureau approximations of USPS ZIP codes; figures describe the ZCTA area, not any single address within it.