07721, Cliffwood, NJ

The 7721 zip code of Cliffwood, NJ has a median home value of $415,000 and a median home equity value of $236,000. The homeowners in this zip code are able to use their home equity to purchase additional property or withdraw cash from their home equity account. In addition, the homeowners in this zip code have access to a variety of financial products and services that can help them manage their finances.

The average monthly mortgage payment for homes in the 7721 zip code is $1,812. The average monthly rent for apartments in the same area is $1,500. These figures indicate that most homeowners in this area are able to afford both their mortgage payments and rent expenses. In addition, many homeowners in this area have taken advantage of available financial products and services to improve their overall financial situation. For example, over half (55%) of homeowners in the 7721 zip code have used a credit card to reduce their monthly expenses. Additionally, almost one third (32%) of homeowners have used a HELOC (home equity loan) to improve their liquidity situation.

Overall, it appears that most homeowners in the 7721 zip code are able to manage their finances well and enjoy positive financial outcomes. This is likely due to the availability of affordable housing options as well as various financial products and services that can help households achieve their goals