The typical owner-occupied home in Broadway is worth about $330,000, 27% below the New Jersey median of $454,400 and about the same as the national median of $332,700. The median household earns $66,094 a year, so the median home costs 5.0 times the median income (4.4 times for New Jersey). 30% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Broadway at a glance
| Broadway | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $330,000 | $454,400 | $332,700 |
| Median property tax paid per year | – | $9,590 | $3,119 |
| Median household income | $66,094 | $103,556 | $80,734 |
| Homes lived in by their owners | 30% | 64% | 65% |
| Owner homes with a mortgage | 71% | 64% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,829 | $1,963 |
| Median rent | $1,375 | $1,720 | $1,413 |
| Rent as a share of renters' income | 32.5% | 30.9% | 30.6% |
| Median year homes were built | 1973 | 1970 | 1980 |
| Vacant homes | 57.7% | 7.5% | 10.1% |
| Population | 115 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Broadway
At this week's average 30-year rate of 7.11%, buying the median Broadway home of $330,000 with 20% down costs about $2,216 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,766, 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 $94,969 for the 20%-down payment. That payment is 40% of the median Broadway household income of $66,094; at that income and 20% down, the 28% guideline points to a home of about $230,000.
The median rent here is $1,375 a month, so owning the median home costs about $841 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $66,000 |
|---|---|
| Loan amount | $264,000 |
| Principal and interest | $1,776 |
| Property taxes (1.10% a year) | $302 |
| Homeowners insurance (our estimate, 0.5% a year) | $138 |
| PMI | $0 |
| Total per month | $2,216 |
Change the numbers in the calculator
| Down payment | $11,550 |
|---|---|
| Loan amount | $324,023 |
| Principal and interest | $2,180 |
| Property taxes (1.10% a year) | $302 |
| Homeowners insurance (our estimate, 0.5% a year) | $138 |
| FHA mortgage insurance | $146 |
| Total per month | $2,766 |
Change the numbers in the calculator
Questions about home buying in Broadway
What is the median home value in Broadway?
About $330,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Broadway?
For the median home with 20% down at 7.11%, the payment is about $2,216 a month. Keeping that under 28% of gross income takes about $94,969 a year.
More about Broadway
- Mortgage Refinance in Broadway
- Debt Relief in Broadway
- Home Equity Loans in Broadway
- 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