The typical owner-occupied home in Montvale is worth about $709,700, 56% above the New Jersey median of $454,400 and 2.1 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.41% of their home's value, lower than the New Jersey rate of 2.11%. The median household earns $178,269 a year, so the median home costs 4.0 times the median income (4.4 times for New Jersey). 80% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Montvale at a glance
| Montvale | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $709,700 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 1.41% | 2.11% | 0.94% |
| Median household income | $178,269 | $103,556 | $80,734 |
| Homes lived in by their owners | 80% | 64% | 65% |
| Owner homes with a mortgage | 70% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $3,875 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 22.9% | 21.0% |
| Median rent | $2,053 | $1,720 | $1,413 |
| Rent as a share of renters' income | 34.8% | 30.9% | 30.6% |
| Median year homes were built | 1968 | 1970 | 1980 |
| Vacant homes | 5.0% | 7.5% | 10.1% |
| Population | 8,901 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Montvale
At this week's average 30-year rate of 7.11%, buying the median Montvale home of $709,700 with 20% down costs about $4,949 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,131, 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 $212,099 for the 20%-down payment. That payment is 33% of the median Montvale household income of $178,269; at that income and 20% down, the 28% guideline points to a home of about $597,000.
The median rent here is $2,053 a month, so owning the median home costs about $2,896 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $141,940 |
|---|---|
| Loan amount | $567,760 |
| Principal and interest | $3,819 |
| Property taxes (1.41% a year) | $834 |
| Homeowners insurance (our estimate, 0.5% a year) | $296 |
| PMI | $0 |
| Total per month | $4,949 |
Change the numbers in the calculator
| Down payment | $24,840 |
|---|---|
| Loan amount | $696,846 |
| Principal and interest | $4,688 |
| Property taxes (1.41% a year) | $834 |
| Homeowners insurance (our estimate, 0.5% a year) | $296 |
| FHA mortgage insurance | $314 |
| Total per month | $6,131 |
Change the numbers in the calculator
Questions about home buying in Montvale
What is the median home value in Montvale?
About $709,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Montvale?
Homeowners pay a median $10,001 a year, which is about 1.41% 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 Montvale?
For the median home with 20% down at 7.11%, the payment is about $4,949 a month. Keeping that under 28% of gross income takes about $212,099 a year.
More about Montvale
- Mortgage Refinance in Montvale
- Debt Relief in Montvale
- Home Equity Loans in Montvale
- 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