The typical owner-occupied home in Rahway is worth about $386,400, 15% below the New Jersey median of $454,400 and 16% above the national median of $332,700. Owners pay a median $9,916 a year in property taxes, about 2.57% of their home's value, higher than the New Jersey rate of 2.11%. The median household earns $91,461 a year, so the median home costs 4.2 times the median income (4.4 times for New Jersey). 52% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Rahway at a glance
| Rahway | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $386,400 | $454,400 | $332,700 |
| Median property tax paid per year | $9,916 | $9,590 | $3,119 |
| Property tax as a share of value | 2.57% | 2.11% | 0.94% |
| Median household income | $91,461 | $103,556 | $80,734 |
| Homes lived in by their owners | 52% | 64% | 65% |
| Owner homes with a mortgage | 72% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,702 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 25.6% | 22.9% | 21.0% |
| Median rent | $1,845 | $1,720 | $1,413 |
| Rent as a share of renters' income | 34.2% | 30.9% | 30.6% |
| Median year homes were built | 1962 | 1970 | 1980 |
| Vacant homes | 5.7% | 7.5% | 10.1% |
| Population | 30,109 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Rahway
At this week's average 30-year rate of 7.11%, buying the median Rahway home of $386,400 with 20% down costs about $3,068 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,712, 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 $131,486 for the 20%-down payment. That payment is 40% of the median Rahway household income of $91,461; at that income and 20% down, the 28% guideline points to a home of about $269,000.
The median rent here is $1,845 a month, so owning the median home costs about $1,223 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $77,280 |
|---|---|
| Loan amount | $309,120 |
| Principal and interest | $2,079 |
| Property taxes (2.57% a year) | $828 |
| Homeowners insurance (our estimate, 0.5% a year) | $161 |
| PMI | $0 |
| Total per month | $3,068 |
Change the numbers in the calculator
| Down payment | $13,524 |
|---|---|
| Loan amount | $379,401 |
| Principal and interest | $2,552 |
| Property taxes (2.57% a year) | $828 |
| Homeowners insurance (our estimate, 0.5% a year) | $161 |
| FHA mortgage insurance | $171 |
| Total per month | $3,712 |
Change the numbers in the calculator
Questions about home buying in Rahway
What is the median home value in Rahway?
About $386,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rahway?
Homeowners pay a median $9,916 a year, which is about 2.57% 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 Rahway?
For the median home with 20% down at 7.11%, the payment is about $3,068 a month. Keeping that under 28% of gross income takes about $131,486 a year.
More about Rahway
- Mortgage Refinance in Rahway
- Debt Relief in Rahway
- Home Equity Loans in Rahway
- 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