The typical owner-occupied home in Tenafly is worth about $1,002,600, 2.2 times the New Jersey median of $454,400 and 3.0 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.00% of their home's value, lower than the New Jersey rate of 2.11%. The median household earns $208,200 a year, so the median home costs 4.8 times the median income (4.4 times for New Jersey). 72% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Tenafly at a glance
| Tenafly | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $1,002,600 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 1.00% | 2.11% | 0.94% |
| Median household income | $208,200 | $103,556 | $80,734 |
| Homes lived in by their owners | 72% | 64% | 65% |
| Owner homes with a mortgage | 64% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 23.1% | 22.9% | 21.0% |
| Median rent | $3,501 | $1,720 | $1,413 |
| Rent as a share of renters' income | 24.0% | 30.9% | 30.6% |
| Median year homes were built | 1958 | 1970 | 1980 |
| Vacant homes | 3.6% | 7.5% | 10.1% |
| Population | 15,319 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Tenafly
At this week's average 30-year rate of 7.11%, buying the median Tenafly home of $1,002,600 with 20% down costs about $6,649 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $8,480, 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 $284,952 for the 20%-down payment. That payment is 38% of the median Tenafly household income of $208,200; at that income and 20% down, the 28% guideline points to a home of about $733,000.
The median rent here is $3,501 a month, so owning the median home costs about $3,148 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $200,520 |
|---|---|
| Loan amount | $802,080 |
| Principal and interest | $5,396 |
| Property taxes (1.00% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $418 |
| PMI | $0 |
| Total per month | $6,649 |
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| Down payment | $35,091 |
|---|---|
| Loan amount | $984,440 |
| Principal and interest | $6,622 |
| Property taxes (1.00% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $418 |
| FHA mortgage insurance | $605 |
| Total per month | $8,480 |
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Questions about home buying in Tenafly
What is the median home value in Tenafly?
About $1,002,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Tenafly?
Homeowners pay a median $10,001 a year, which is about 1.00% 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 Tenafly?
For the median home with 20% down at 7.11%, the payment is about $6,649 a month. Keeping that under 28% of gross income takes about $284,952 a year.
More about Tenafly
- Mortgage Refinance in Tenafly
- Debt Relief in Tenafly
- Home Equity Loans in Tenafly
- 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