Last updated
Average Rent in Elmwood Park 07407 & Rent Trends
Rent prices and market trends across 1 apartment community in Elmwood Park 07407, Elmwood Park, NJ. Updated daily.
Market Average
$2,353/mo
Lowest Available
$1,975/mo
cheapest unit on market
Communities
1
tracked daily
Units Listed
38
available now
Price Cuts This Week in Elmwood Park 07407
8 listed units across 1 building in Elmwood Park 07407 dropped their asking rent in the past 7 days, an average cut of $43/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Elmwood Village Apartment Homes | Unit B48A | $2,290 | $2,240 | $50 |
| Elmwood Village Apartment Homes | Unit D87B | $2,295 | $2,245 | $50 |
| Elmwood Village Apartment Homes | Unit D89A | $2,100 | $2,050 | $50 |
| Elmwood Village Apartment Homes | Unit E86B | $2,135 | $2,085 | $50 |
| Elmwood Village Apartment Homes | Unit G51B | $2,160 | $2,110 | $50 |
| Elmwood Village Apartment Homes | Unit S28B | $2,135 | $2,085 | $50 |
| Elmwood Village Apartment Homes | Unit E101B | $2,375 | $2,350 | $25 |
| Elmwood Village Apartment Homes | Unit D142A | $2,230 | $2,215 | $15 |
Elmwood Park 07407 vs Elmwood Park, NJ Average
Elmwood Park 07407 is the same price as the Elmwood Park, NJ average . The citywide average is $2,353/mo across all neighborhoods.
Is Rent Going Up or Down in Elmwood Park 07407?
As of August 2026, the average rent in Elmwood Park 07407 is $2,353 per month across 1 apartment community and 38 available units.
The most affordable option is Elmwood Village Apartment Homes starting at $1,975/mo. By unit type, a 1-bedroom averages $2,140/mo, a 2-bedroom averages $2,398/mo, a 3-bedroom averages $3,790/mo.
Prices range from $1,975 to $3,790 per month. The most common price point is the $2,200 range, where 16 units are currently listed.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Elmwood Park 07407
Rent Prices by Apartment in Elmwood Park 07407
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Elmwood Village Apartment Homes | $1,975/mo | $2,353/mo | 38 | 3.4 |
Frequently Asked Questions About Rent in Elmwood Park 07407
What is the average rent in Elmwood Park 07407?
Is rent going up or down in Elmwood Park 07407?
What is the cheapest apartment in Elmwood Park 07407?
How much is a 1-bedroom apartment in Elmwood Park 07407?
How many apartments are available in Elmwood Park 07407?
What salary do I need to live comfortably in Elmwood Park 07407?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$94,000/year
Based on the 30 percent rule, using our tracked average rent of $2,353/mo.
Comfortable income
$113,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,975/mo), you need to earn at least $79,000/year.
Median household income in Elmwood Park 07407 is $100,852 , about 11% below the comfortable-living threshold.
Cost of living in Elmwood Park 07407
Overall prices in Elmwood Park 07407 runs above the national average by about 13% (BEA Regional Price Parity index 112.6, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Elmwood Park 07407's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,353 |
| Utilities | $644 |
| Groceries | $585 |
| Transportation | $1,534 |
| Healthcare | $748 |
| Other goods and services | $1,197 |
| Estimated total | $7,061/mo |
Population
21,287
Median household income
$100,852
Census median rent
$2,025/mo
Rent as % of income
30.3%
Median age
39.9
Mean commute
27 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Google Search Trends for Elmwood Park 07407 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Elmwood Park 07407 Apartments
Browse all 1 communities with daily-updated pricing and availability.