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Nursing Care Facilities Market: ZIP 07022

Opportunity Score

71 / 100 Good

Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 07022 is an urban area with high foot traffic. with a population of 14,920 and household incomes near the national median ($64,152).

14,920

Population

$64,152

Median Income

-14% vs. national

Urban

Area Type

15.2/20

Foot Traffic

Very Walkable

Median Age: 39.0 — mixed-age market, broad menu appeal.

College-Educated: 17.0% — value-focused market, keep prices competitive.

Local cost levels affect space, labor, and operating expenses.

$1,960

2BR Fair Market Rent

$1,597

Median Gross Rent

$510 K

Median Home Value

Bank Branches

$390 K deposits

State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.