Nursing Care Facilities Market: ZIP 08223
Opportunity Score
88
/ 100
Excellent
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 08223 is an urban area. with a population of 4,063 and household incomes above the national median ($100,000).
Area Profile
4,063
Population
$100,000
Median Income
+34% vs. national
Urban
Area Type
Median Age: 46.2 —
older demographic, may prefer sit-down options.
College-Educated: 37.9% —
balanced market for quality & value.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,920
2BR Fair Market Rent
$1,642
Median Gross Rent
$350 K
Median Home Value
2
Bank Branches
$290 K deposits
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
- Bank Branches
- 2
vs. National Average
Median Income
+34% vs. $74,580
Nearby Markets
08226
3.4 mi
Pop: 11,260
$101,782
Walk: 12.7
08248
5.1 mi
Pop: 134
$106,840
08244
5.2 mi
Pop: 10,611
$67,500
Walk: 14.2
08230
5.8 mi
Pop: 5,998
$110,667
Walk: 8.1
08221
8.0 mi
Pop: 6,954
$135,904
Walk: 14.6
08403
8.6 mi
Pop: 1,012
$103,295
Walk: 13.6
08234
8.6 mi
Pop: 46,856
$96,604
Walk: 8.1
08243
8.6 mi
Pop: 2,079
$98,860
Walk: 11.1
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