Home › ZIP 07074

Nursing Care Facilities Market: ZIP 07074

Opportunity Score

82 / 100 Excellent

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

Market Summary

ZIP 07074 is an urban area. with a population of 3,106 and household incomes well above the national median ($108,359).

3,106

Population

$108,359

Median Income

+45% vs. national

Urban

Area Type

Median Age: 38.4 — mixed-age market, broad menu appeal.

College-Educated: 18.1% — value-focused market, keep prices competitive.

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

$1,430

2BR Fair Market Rent

$1,131

Median Gross Rent

$450 K

Median Home Value

Bank Branches

$280 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.
The median income here is $108,359. That gives you pricing room most markets don't offer. Don't underprice.