The typical owner-occupied home in Essex Fells is worth about $1,083,000, 2.4 times the New Jersey median of $454,400 and 3.3 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 0.92% of their home's value, lower than the New Jersey rate of 2.11%. The median household earns $250,001 a year, so the median home costs 4.3 times the median income (4.4 times for New Jersey). 96% of occupied homes here are lived in by their owners, and 73% of those owners still have a mortgage.
Essex Fells at a glance
| Essex Fells | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $1,083,000 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 0.92% | 2.11% | 0.94% |
| Median household income | $250,001 | $103,556 | $80,734 |
| Homes lived in by their owners | 96% | 64% | 65% |
| Owner homes with a mortgage | 73% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 22.6% | 22.9% | 21.0% |
| Median rent | $3,501 | $1,720 | $1,413 |
| Rent as a share of renters' income | 37.5% | 30.9% | 30.6% |
| Median year homes were built | 1954 | 1970 | 1980 |
| Vacant homes | 6.9% | 7.5% | 10.1% |
| Population | 2,361 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Essex Fells
At this week's average 30-year rate of 7.11%, buying the median Essex Fells home of $1,083,000 with 20% down costs about $7,110 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $9,088, 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 $304,709 for the 20%-down payment. That payment is 34% of the median Essex Fells household income of $250,001; at that income and 20% down, the 28% guideline points to a home of about $889,000.
The median rent here is $3,501 a month, so owning the median home costs about $3,609 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $216,600 |
|---|---|
| Loan amount | $866,400 |
| Principal and interest | $5,828 |
| Property taxes (0.92% a year) | $830 |
| Homeowners insurance (our estimate, 0.5% a year) | $451 |
| PMI | $0 |
| Total per month | $7,110 |
Change the numbers in the calculator
| Down payment | $37,905 |
|---|---|
| Loan amount | $1,063,384 |
| Principal and interest | $7,153 |
| Property taxes (0.92% a year) | $830 |
| Homeowners insurance (our estimate, 0.5% a year) | $451 |
| FHA mortgage insurance | $653 |
| Total per month | $9,088 |
Change the numbers in the calculator
Questions about home buying in Essex Fells
What is the median home value in Essex Fells?
About $1,083,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Essex Fells?
Homeowners pay a median $10,001 a year, which is about 0.92% 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 Essex Fells?
For the median home with 20% down at 7.11%, the payment is about $7,110 a month. Keeping that under 28% of gross income takes about $304,709 a year.
More about Essex Fells
- Mortgage Refinance in Essex Fells
- Debt Relief in Essex Fells
- Home Equity Loans in Essex Fells
- 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