Quick facts: Cedar grove, NJ

Quick Facts

112.9
Cost of Living
above US average
12,549
Population
9.8
Crime Rate per 1000
below US average
$107,500
Median Income
above US average
$849,999
Median House Price
above US average
$3733.33
Average Rent
above US average
5%
Poverty Rate
below US average
3.3%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $107,500.

🏠

Income Needed to Buy

βœ— Stretch
$267k/year
Based on $849,999 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $267k vs median $107,500
🏒

Income Needed to Rent

⚠ Stretch
$160k/year
Based on $3733.33/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $160k vs median $107,500
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cedar grove, NJ

Cedar Grove is a charming township located in Essex County, New Jersey. Known for its suburban feel, Cedar Grove offers a mix of residential neighborhoods, parks, and local amenities, making it an appealing place for families and professionals alike. The area boasts a rich history and several historic sites, contributing to its community atmosphere. One of the highlights of Cedar Grove is its access to nature, with parks such as Cedar Grove Park and the nearby Mills Reservation providing ample opportunities for hiking, picnicking, and enjoying the outdoors. The township also features recreational facilities, playgrounds, and sports fields, catering to various activities for residents. Cedar Grove is well-connected to major highways, facilitating easy commutes to nearby cities like Montclair and Newark, as well as New York City. Local schools are part of the Cedar Grove School District, known for its commitment to quality education. Overall, Cedar Grove offers a blend of suburban tranquility, community spirit, and convenient access to urban opportunities, making it a desirable place to live in New Jersey.

πŸ” Search & Compare Places

First Location πŸ“