The typical owner-occupied home in Newton is worth about $302,700, 33% below the New Jersey median of $454,400 and 9% below the national median of $332,700. Owners pay a median $9,187 a year in property taxes, about 3.04% of their home's value, higher than the New Jersey rate of 2.11%. The median household earns $76,221 a year, so the median home costs 4.0 times the median income (4.4 times for New Jersey). 59% of occupied homes here are lived in by their owners, and 69% of those owners still have a mortgage.
Newton at a glance
| Newton | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $302,700 | $454,400 | $332,700 |
| Median property tax paid per year | $9,187 | $9,590 | $3,119 |
| Property tax as a share of value | 3.04% | 2.11% | 0.94% |
| Median household income | $76,221 | $103,556 | $80,734 |
| Homes lived in by their owners | 59% | 64% | 65% |
| Owner homes with a mortgage | 69% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,185 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 26.1% | 22.9% | 21.0% |
| Median rent | $1,442 | $1,720 | $1,413 |
| Rent as a share of renters' income | 40.4% | 30.9% | 30.6% |
| Median year homes were built | 1962 | 1970 | 1980 |
| Vacant homes | 9.1% | 7.5% | 10.1% |
| Population | 8,369 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Newton
At this week's average 30-year rate of 7.11%, buying the median Newton home of $302,700 with 20% down costs about $2,522 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,026, 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 $108,086 for the 20%-down payment. That payment is 40% of the median Newton household income of $76,221; at that income and 20% down, the 28% guideline points to a home of about $213,000.
The median rent here is $1,442 a month, so owning the median home costs about $1,080 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $60,540 |
|---|---|
| Loan amount | $242,160 |
| Principal and interest | $1,629 |
| Property taxes (3.04% a year) | $767 |
| Homeowners insurance (our estimate, 0.5% a year) | $126 |
| PMI | $0 |
| Total per month | $2,522 |
Change the numbers in the calculator
| Down payment | $10,594 |
|---|---|
| Loan amount | $297,217 |
| Principal and interest | $1,999 |
| Property taxes (3.04% a year) | $767 |
| Homeowners insurance (our estimate, 0.5% a year) | $126 |
| FHA mortgage insurance | $134 |
| Total per month | $3,026 |
Change the numbers in the calculator
Questions about home buying in Newton
What is the median home value in Newton?
About $302,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Newton?
Homeowners pay a median $9,187 a year, which is about 3.04% 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 Newton?
For the median home with 20% down at 7.11%, the payment is about $2,522 a month. Keeping that under 28% of gross income takes about $108,086 a year.
More about Newton
- Mortgage Refinance in Newton
- Debt Relief in Newton
- Home Equity Loans in Newton
- 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