The story of this market
The typical home in ZIP 07016 sells for about $828,313, or $501 per square foot.
Prices are down 2% from a year ago, which gives buyers more room to negotiate. Homes take about 13 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,199 a month.
ZIP 07016 — Cranford
The 07016 housing market remains highly competitive with low inventory and strong demand, despite a slight year-over-year dip in median sale prices. The market is driven by the area's reputation for excellent schools and its status as a premier commuter hub for New York City. A base-layer property observation of $1,740,510 reflects the high-end segment of the local market.
This ZIP is ideal for families and commuters seeking a suburban lifestyle with high-quality schools and convenient transit access to New York City.
Median prices moved down 2.0% year over year.
Homes spend a median of 13 days on market with 1.5 months of supply — a fast-moving market.
25% of listings have cut prices · homes sell at 101.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.6% · poverty 2.5% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 7.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 07016, Union County NJ
Cranford generally reports low crime rates compared to the broader Union County and New Jersey averages, maintaining a reputation as a safe, family-oriented community.
The Cranford Public School District is highly regarded, consistently receiving strong performance ratings and serving as a primary draw for families moving to the area.
The area faces moderate flood risk, particularly for properties located near the Rahway River, necessitating careful review of flood maps and insurance requirements.
Economic momentum is driven by its proximity to major New York City employment hubs and local commercial revitalization efforts in the downtown Cranford area.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (New Jersey) — Farmland Assessment: Property is assessed based on its productive capability for agricultural use rather than its full market value, resulting in a lower tax burden. State (New Jersey) — Ad Valorem Property Tax: Tax is calculated as (Assessed Value * Tax Rate). Assessed value is determined by the municipal assessor at 100% of true market value. The tax rate is set by local taxing districts to cover municipal, county, and school budgets.
Residents benefit from direct NJ Transit rail service to New York Penn Station, making it a highly accessible location for commuters working in Manhattan.
The area features extensive recreational amenities including the Rahway River Parkway, multiple local parks, and a vibrant downtown shopping and dining district.
The rental market is characterized by high demand and limited inventory, with rents showing moderate growth and a strong preference for single-family home rentals.
The local economy is supported by a mix of professional services, retail, and its role as a bedroom community for the New York City financial and corporate sectors.
The area is served by the NJ Transit Raritan Valley Line, providing direct access to Newark and New York City, alongside major highway access via the Garden State Parkway.
Development is focused on transit-oriented residential infill and the preservation of the historic character of the downtown area.
Parcels are subject to Cranford Township municipal taxes, Cranford School District levies, and Union County taxes.
Property insurance premiums are influenced by regional flood risk and the proximity to coastal storm paths, with rates trending upward.
Data retrieved from Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- American Dream4.516.3 mi
- Supercharged Entertainment4.810 mi
- DreamWorks Water Park4.316.2 mi
- Nickelodeon Universe Theme Park4.516.1 mi
- Color Factory NYC4.416.5 mi
- American Dream4.516.3 mi
- MetLife Stadium4.516.2 mi
- Madison Square Garden4.717.6 mi
- Barclays Center4.517.4 mi
- Javits Center4.617.4 mi
- Essex County Turtle Back Zoo4.67.8 mi
- Branch Brook Park4.610.3 mi
- The Funplex4.311.2 mi
- AMC Jersey Gardens 204.17.2 mi
- AMC New Brunswick 183.812.9 mi
- Rockefeller Center4.718.5 mi
- The Metropolitan Museum of Art4.819.8 mi
- Empire State Building4.717.9 mi
- The Museum of Modern Art4.618.6 mi
- 9/11 Memorial & Museum4.815.8 mi
- Branch Brook Park4.610.3 mi
- Rahway Train Station Plaza4.33.8 mi
- Snug Harbor Cultural Center & Botanical Garden4.510.7 mi
- Eagle Rock Reservation4.811.3 mi
- Warinanco Park4.63.4 mi
- Elizabeth Marina4.66.3 mi
- Topgolf Edison4.310 mi
- Galloping Hill Golf Course4.42.5 mi
- Baltusrol Golf Club4.73.5 mi
- Rock Spring Golf Club4.28 mi
- Skyway Golf Course4.512.4 mi
- The Mills at Jersey Gardens4.57.1 mi
- The Mall at Short Hills4.56.5 mi
- Menlo Park Mall4.47.7 mi
- Staten Island Mall4.49 mi
- Jersey Gardens4.77.1 mi
- Newark Liberty International Airport3.77.1 mi
- LaGuardia Airport4.124.1 mi
- Teterboro Airport4.418.9 mi
- Chico Express3.915.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major greenbelt providing trails and recreational space.
A historic and vibrant commercial district with diverse dining and retail options.
Large community park with sports fields and walking paths.
Deterministic aggregate of 1 researched property in this ZIP (latest reading each) — each property weighs one; per point, properties lacking the value are excluded. Property-level records (taxes, scores, permits) never roll individually.
No county-record distress flags across 1 researched property on the ARED base layer. Key-figure check: median price corroborated by the published ten-year series (2025) (within 12.5%).