The typical owner-occupied home in Great Meadows is worth about $394,600, 13% below the New Jersey median of $454,400 and 19% above the national median of $332,700. Owners pay a median $8,649 a year in property taxes, about 2.19% of their home's value, close to the New Jersey rate of 2.11%. 100% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Great Meadows at a glance
| Great Meadows | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $394,600 | $454,400 | $332,700 |
| Median property tax paid per year | $8,649 | $9,590 | $3,119 |
| Property tax as a share of value | 2.19% | 2.11% | 0.94% |
| Median household income | – | $103,556 | $80,734 |
| Homes lived in by their owners | 100% | 64% | 65% |
| Owner homes with a mortgage | 48% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $3,260 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 17.6% | 22.9% | 21.0% |
| Median rent | – | $1,720 | $1,413 |
| Median year homes were built | 1938 | 1970 | 1980 |
| Vacant homes | 18.0% | 7.5% | 10.1% |
| Population | 604 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Great Meadows
At this week's average 30-year rate of 7.11%, buying the median Great Meadows home of $394,600 with 20% down costs about $3,008 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,666, 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 $128,921 for the 20%-down payment.
| Down payment | $78,920 |
|---|---|
| Loan amount | $315,680 |
| Principal and interest | $2,124 |
| Property taxes (2.19% a year) | $720 |
| Homeowners insurance (our estimate, 0.5% a year) | $164 |
| PMI | $0 |
| Total per month | $3,008 |
Change the numbers in the calculator
| Down payment | $13,811 |
|---|---|
| Loan amount | $387,453 |
| Principal and interest | $2,606 |
| Property taxes (2.19% a year) | $720 |
| Homeowners insurance (our estimate, 0.5% a year) | $164 |
| FHA mortgage insurance | $175 |
| Total per month | $3,666 |
Change the numbers in the calculator
Questions about home buying in Great Meadows
What is the median home value in Great Meadows?
About $394,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Great Meadows?
Homeowners pay a median $8,649 a year, which is about 2.19% 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 Great Meadows?
For the median home with 20% down at 7.11%, the payment is about $3,008 a month. Keeping that under 28% of gross income takes about $128,921 a year.
More about Great Meadows
- Mortgage Refinance in Great Meadows
- Debt Relief in Great Meadows
- Home Equity Loans in Great Meadows
- 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