Quick facts: Clark, NJ

Quick Facts

115.3
Cost of Living
above US average
15,943
Population
7.65
Crime Rate per 1000
below US average
$98,425
Median Income
above US average
$855,000
Median House Price
above US average
$3100.0
Average Rent
above US average
4%
Poverty Rate
below US average
5.1%
Unemployment Rate
above 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 $98,425.

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Income Needed to Buy

βœ— Stretch
$268k/year
Based on $855,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $268k vs median $98,425
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Income Needed to Rent

⚠ Stretch
$133k/year
Based on $3100.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $133k vs median $98,425
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Clark, NJ

Clark, New Jersey, is a suburban township located within Union County, known for its residential communities and family-friendly atmosphere. Situated approximately 24 miles southwest of Manhattan, Clark combines the charm of a small town with easy access to urban amenities. The town covers around 2.6 square miles and has a population of about 15,000 residents. Clark features a variety of parks, including the scenic Oak Ridge Park, which offers walking trails, sports facilities, and picnic areas. The township boasts a strong sense of community with numerous local events and festivals throughout the year. Clark is served by well-regarded public schools, making it a desirable location for families. Transportation options are abundant, with easy access to the Garden State Parkway and NJ Transit train stations nearby, ensuring commuters can reach New York City and other destinations conveniently. The local economy is supported by various businesses and retail establishments, providing residents with necessary services and shopping options. Overall, Clark is an appealing blend of suburban living with a close-knit community vibe and accessibility to larger urban centers.

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