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Nursing Care Facilities Market: ZIP 07304

Opportunity Score

72 / 100 Good

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

Market Summary

ZIP 07304 is an urban area with moderate foot traffic. with a population of 49,260 and household incomes near the national median ($68,432).

49,260

Population

$68,432

Median Income

-8% vs. national

Urban

Area Type

14.6/20

Foot Traffic

Very Car-Dependent

Median Age: 34.6 — mixed-age market, broad menu appeal.

College-Educated: 27.7% — balanced market for quality & value.

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

$2,070

2BR Fair Market Rent

$1,572

Median Gross Rent

$490 K

Median Home Value

Bank Branches

$430 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.