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Affordable
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These days, finding an affordable place to live in the Mendham area can be challenging. Home prices in Mendham are now at a median cost of $943,482, higher than the New Jersey average of $496,577.
The average cost of rent is $2,723/mo in Mendham, primarily driven by the current value of real estate in the Mendham area. In Mendham, 10.28% of households rent, and 30.66% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Mendham is $19,492 per month. Households that rent pay about 13.97% of their income on rent here. Mendham’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Brookside, NJ: equally priced homes
- Chester, NJ: less expensive homes
- Randolph, NJ: less expensive homes
- Bernardsville, NJ: equally priced homes
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- Peapack and Gladstone, NJ: equally priced homes
- Far Hills, NJ: equally priced homes
- Madisonville, NJ: equally priced homes
- Morristown, NJ: less expensive homes
- Mine Hill, NJ: less expensive homes
Cities with Similar Populations
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- Bloomingdale, TN: less expensive homes
- Oroville East, CA: less expensive homes
- Pecos, TX: less expensive homes
- Pearsall, TX: less expensive homes
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