The typical owner-occupied home in River Edge is worth about $660,300, 45% above the New Jersey median of $454,400 and 98% above the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.51% of their home's value, lower than the New Jersey rate of 2.11%. The median household earns $159,028 a year, so the median home costs 4.2 times the median income (4.4 times for New Jersey). 76% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
River Edge at a glance
| River Edge | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $660,300 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 1.51% | 2.11% | 0.94% |
| Median household income | $159,028 | $103,556 | $80,734 |
| Homes lived in by their owners | 76% | 64% | 65% |
| Owner homes with a mortgage | 66% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $3,832 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 22.9% | 21.0% |
| Median rent | $1,879 | $1,720 | $1,413 |
| Rent as a share of renters' income | 31.7% | 30.9% | 30.6% |
| Median year homes were built | 1954 | 1970 | 1980 |
| Vacant homes | 1.9% | 7.5% | 10.1% |
| Population | 12,091 | 9,343,809 | 334,922,499 |
What a typical home costs per month in River Edge
At this week's average 30-year rate of 7.11%, buying the median River Edge home of $660,300 with 20% down costs about $4,660 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $5,759, 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 $199,693 for the 20%-down payment. That payment is 35% of the median River Edge household income of $159,028; at that income and 20% down, the 28% guideline points to a home of about $526,000.
The median rent here is $1,879 a month, so owning the median home costs about $2,780 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $132,060 |
|---|---|
| Loan amount | $528,240 |
| Principal and interest | $3,554 |
| Property taxes (1.51% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $275 |
| PMI | $0 |
| Total per month | $4,660 |
Change the numbers in the calculator
| Down payment | $23,110 |
|---|---|
| Loan amount | $648,340 |
| Principal and interest | $4,361 |
| Property taxes (1.51% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $275 |
| FHA mortgage insurance | $292 |
| Total per month | $5,759 |
Change the numbers in the calculator
Questions about home buying in River Edge
What is the median home value in River Edge?
About $660,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in River Edge?
Homeowners pay a median $10,001 a year, which is about 1.51% 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 River Edge?
For the median home with 20% down at 7.11%, the payment is about $4,660 a month. Keeping that under 28% of gross income takes about $199,693 a year.
More about River Edge
- Mortgage Refinance in River Edge
- Debt Relief in River Edge
- Home Equity Loans in River Edge
- 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