Real Estate Investing in Boonton, New Jersey (07005)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07005 (Boonton, NJ)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Boonton, NJ (07005)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 07005 Boonton
This part of Morris County is not an easy win. The 07005 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
For an experienced owner, 07005 can be a a strong candidate for hunting ground — but the discount at $738K reflects genuine risk that outside investors often underestimate.
ZIP 07005's metrics run below Morris County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
A impressive renter share of 30% in 07005 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The right play in 07005 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Boonton:
Property Strategy for 07005
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $524,061 | $2,430 | 3.3% | +8.2% | $262,030 |
| 3BR | $649,210 | $3,040 | 3.4% | +8.4% | $216,403 |
| 4BR | $806,390 | $3,460 | 3.1% | +8.3% | $201,597 |
| 5BR | $1,076,245 | — | — | +8.6% | $215,249 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 07005 Compare?
| Metric | 07005 | Boonton | New Jersey |
|---|---|---|---|
| Home Value | $738,042 | $738,042 | $559,826 |
| 5-Year CAGR | 5.9% | 5.9% | 8.4% |
| Avg Rent | $2,933 | $2,933 | - |
| Cap Rate | 3.1% | 3.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07005 (Boonton, NJ). Anonymous, moderated, never written by AI.
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Property managers serving Morris County
Manage rentals here? List your business →Denali Property Management New Jersey specializes in condo management. summary from their website
PMI Prime Property Services offers residential, association, and commercial property management in Northern New Jersey, including marketing, tenant screening, and maintenance. summary from their website
Alliance Property Management LLC provides property management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $738,042 |
| Monthly Rent | $2,933 |
| Price-to-Rent | 21.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 9.0% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | +5.9% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07005
Population: 15,240
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07005
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Mountain Lakes High School
Robert R Lazar Middle School
Valley View School
Wildwood Elementary School
Briarcliff Middle School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,705 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is real estate in Boonton, NJ a good investment right now?
Yes - Boonton, NJ a 3.0/5 investability score. With $738K home prices against $2,933/mo monthly rent, the market delivers a reasonable entry point for new investors.
What investment strategy works best in Boonton, NJ?
The best-fit strategy in Boonton, NJ is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Does Boonton, NJ favor landlords or tenants?
NJ ranks as a tenant-protective state for landlord-tenant law. Boonton generally follows the statewide framework, so landlords face reasonable operating rules.
What does house hacking look like in Boonton, NJ?
Boonton, NJ offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,933/mo rent level.
What are rental rates like in Boonton, NJ?
Rent in Boonton, NJ is around $2,933/mo. The resulting rent-to-value relationship with $738K pricing is reasonable for most investor models.
You know 07005 now. You don’t know where it ranks.
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How 07005 ranks in New York-Newark-Jersey City, NY-NJ-PA
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