Quick facts: Montclair, NJ

Quick Facts

112.9
Cost of Living
above US average
39,783
Population
12.17
Crime Rate per 1000
below US average
$158,765
Median Income
above US average
$1,250,000
Median House Price
above US average
$3367.91
Average Rent
above US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

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 $158,765.

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Income Needed to Buy

βœ— Stretch
$392k/year
Based on $1,250,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $392k vs median $158,765
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Income Needed to Rent

βœ“ Affordable
$144k/year
Based on $3367.91/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($158,765) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Montclair, NJ

Montclair, New Jersey, is a vibrant suburban community located about 12 miles west of Manhattan, making it a popular choice for commuters. Known for its diverse neighborhoods and rich cultural scene, Montclair boasts a mix of historic architecture and modern amenities. The town is home to numerous parks, including the expansive Brookdale Park, offering residents and visitors ample outdoor recreational options. The local arts scene thrives, with attractions such as the Montclair Art Museum and the Wellmont Theater, which host a variety of performances and exhibitions. The downtown area features a charming selection of boutiques, cafes, and restaurants, catering to a range of tastes and preferences. Montclair is renowned for its excellent public schools and a strong sense of community, making it an attractive place for families. The town combines suburban charm with urban accessibility, providing a unique lifestyle that balances tranquility with cultural richness. Educational institutions such as Montclair State University further contribute to the town's vibrant atmosphere and community engagement.

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