The typical owner-occupied home in Short Hills is worth about $1,674,100, 3.7 times the New Jersey median of $454,400 and 5.0 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 0.60% 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 6.7 times the median income (4.4 times for New Jersey). 86% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Short Hills at a glance
| Short Hills | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $1,674,100 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 0.60% | 2.11% | 0.94% |
| Median household income | $250,001 | $103,556 | $80,734 |
| Homes lived in by their owners | 86% | 64% | 65% |
| Owner homes with a mortgage | 66% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 22.9% | 21.0% |
| Median rent | $3,126 | $1,720 | $1,413 |
| Rent as a share of renters' income | 23.0% | 30.9% | 30.6% |
| Median year homes were built | 1958 | 1970 | 1980 |
| Vacant homes | 1.1% | 7.5% | 10.1% |
| Population | 14,923 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Short Hills
At this week's average 30-year rate of 7.11%, buying the median Short Hills home of $1,674,100 with 20% down costs about $10,544 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $13,602, 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 $451,886 for the 20%-down payment. That payment is 51% of the median Short Hills household income of $250,001; at that income and 20% down, the 28% guideline points to a home of about $926,000.
The median rent here is $3,126 a month, so owning the median home costs about $7,418 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $334,820 |
|---|---|
| Loan amount | $1,339,280 |
| Principal and interest | $9,009 |
| Property taxes (0.60% a year) | $837 |
| Homeowners insurance (our estimate, 0.5% a year) | $698 |
| PMI | $0 |
| Total per month | $10,544 |
Change the numbers in the calculator
| Down payment | $58,594 |
|---|---|
| Loan amount | $1,643,778 |
| Principal and interest | $11,058 |
| Property taxes (0.60% a year) | $837 |
| Homeowners insurance (our estimate, 0.5% a year) | $698 |
| FHA mortgage insurance | $1,010 |
| Total per month | $13,602 |
Change the numbers in the calculator
Questions about home buying in Short Hills
What is the median home value in Short Hills?
About $1,674,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Short Hills?
Homeowners pay a median $10,001 a year, which is about 0.60% 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 Short Hills?
For the median home with 20% down at 7.11%, the payment is about $10,544 a month. Keeping that under 28% of gross income takes about $451,886 a year.
More about Short Hills
- Mortgage Refinance in Short Hills
- Debt Relief in Short Hills
- Home Equity Loans in Short Hills
- 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