Nursing Care Facilities Market: ZIP 07502
Opportunity Score
72
/ 100
Good
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 07502 is an urban area. with a population of 17,488 and household incomes near the national median ($68,649).
Area Profile
17,488
Population
$68,649
Median Income
-8% vs. national
Urban
Area Type
Median Age: 33.2 —
mixed-age market, broad menu appeal.
College-Educated: 9.8% —
value-focused market, keep prices competitive.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,790
2BR Fair Market Rent
$1,492
Median Gross Rent
$350 K
Median Home Value
Tips for Starting a Elder Care Business in New Jersey
- 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.
Quick Facts
- Area Type
- Urban
vs. National Average
Median Income
-8% vs. $74,580
Nearby Markets
07522
1.1 mi
Pop: 22,599
$48,002
Walk: 13.6
07505
1.6 mi
Pop: 4,617
$33,311
Walk: 16.0
07501
1.7 mi
Pop: 35,321
$40,699
Walk: 14.7
07512
2.0 mi
Pop: 10,919
$114,177
Walk: 14.0
07508
2.6 mi
Pop: 23,611
$94,611
Walk: 14.8
07424
2.7 mi
Pop: 27,475
$104,122
Walk: 13.4
07524
2.8 mi
Pop: 14,676
$50,033
Walk: 14.9
07503
3.2 mi
Pop: 19,567
$60,295
Walk: 13.4
Check Another Market
Or estimate costs with the ElderCareCost calculator.
About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits