The typical owner-occupied home in Demarest is worth about $1,114,600, 2.5 times the New Jersey median of $454,400 and 3.4 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 0.90% of their home's value, lower than the New Jersey rate of 2.11%. The median household earns $208,036 a year, so the median home costs 5.4 times the median income (4.4 times for New Jersey). 94% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Demarest at a glance
| Demarest | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $1,114,600 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 0.90% | 2.11% | 0.94% |
| Median household income | $208,036 | $103,556 | $80,734 |
| Homes lived in by their owners | 94% | 64% | 65% |
| Owner homes with a mortgage | 62% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 22.9% | 22.9% | 21.0% |
| Median rent | $3,501 | $1,720 | $1,413 |
| Rent as a share of renters' income | 47.2% | 30.9% | 30.6% |
| Median year homes were built | 1967 | 1970 | 1980 |
| Vacant homes | 4.3% | 7.5% | 10.1% |
| Population | 4,911 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Demarest
At this week's average 30-year rate of 7.11%, buying the median Demarest home of $1,114,600 with 20% down costs about $7,299 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $9,335, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $312,804 for the 20%-down payment. That payment is 42% of the median Demarest household income of $208,036; at that income and 20% down, the 28% guideline points to a home of about $741,000.
The median rent here is $3,501 a month, so owning the median home costs about $3,798 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $222,920 |
|---|---|
| Loan amount | $891,680 |
| Principal and interest | $5,998 |
| Property taxes (0.90% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $464 |
| PMI | $0 |
| Total per month | $7,299 |
Change the numbers in the calculator
| Down payment | $39,011 |
|---|---|
| Loan amount | $1,094,412 |
| Principal and interest | $7,362 |
| Property taxes (0.90% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $464 |
| FHA mortgage insurance | $672 |
| Total per month | $9,335 |
Change the numbers in the calculator
Questions about home buying in Demarest
What is the median home value in Demarest?
About $1,114,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Demarest?
Homeowners pay a median $10,001 a year, which is about 0.90% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Demarest?
For the median home with 20% down at 7.11%, the payment is about $7,299 a month. Keeping that under 28% of gross income takes about $312,804 a year.
More about Demarest
- Mortgage Refinance in Demarest
- Debt Relief in Demarest
- Home Equity Loans in Demarest
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data