The typical owner-occupied home in Emerson is worth about $645,200, 42% above the New Jersey median of $454,400 and 94% above the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.55% of their home's value, lower than the New Jersey rate of 2.11%. The median household earns $155,536 a year, so the median home costs 4.1 times the median income (4.4 times for New Jersey). 92% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Emerson at a glance
| Emerson | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $645,200 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 1.55% | 2.11% | 0.94% |
| Median household income | $155,536 | $103,556 | $80,734 |
| Homes lived in by their owners | 92% | 64% | 65% |
| Owner homes with a mortgage | 59% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $3,608 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 23.7% | 22.9% | 21.0% |
| Median rent | $1,887 | $1,720 | $1,413 |
| Rent as a share of renters' income | 32.1% | 30.9% | 30.6% |
| Median year homes were built | 1960 | 1970 | 1980 |
| Vacant homes | 0.0% | 7.5% | 10.1% |
| Population | 7,305 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Emerson
At this week's average 30-year rate of 7.11%, buying the median Emerson home of $645,200 with 20% down costs about $4,574 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,649, 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 $196,048 for the 20%-down payment. That payment is 35% of the median Emerson household income of $155,536; at that income and 20% down, the 28% guideline points to a home of about $512,000.
The median rent here is $1,887 a month, so owning the median home costs about $2,687 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $129,040 |
|---|---|
| Loan amount | $516,160 |
| Principal and interest | $3,472 |
| Property taxes (1.55% a year) | $833 |
| Homeowners insurance (our estimate, 0.5% a year) | $269 |
| PMI | $0 |
| Total per month | $4,574 |
Change the numbers in the calculator
| Down payment | $22,582 |
|---|---|
| Loan amount | $633,514 |
| Principal and interest | $4,262 |
| Property taxes (1.55% a year) | $833 |
| Homeowners insurance (our estimate, 0.5% a year) | $269 |
| FHA mortgage insurance | $285 |
| Total per month | $5,649 |
Change the numbers in the calculator
Questions about home buying in Emerson
What is the median home value in Emerson?
About $645,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Emerson?
Homeowners pay a median $10,001 a year, which is about 1.55% 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 Emerson?
For the median home with 20% down at 7.11%, the payment is about $4,574 a month. Keeping that under 28% of gross income takes about $196,048 a year.
More about Emerson
- Mortgage Refinance in Emerson
- Debt Relief in Emerson
- Home Equity Loans in Emerson
- 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