Quick facts: Newton, NJ

Quick Facts

112.9
Cost of Living
above US average
8,466
Population
6.02
Crime Rate per 1000
below US average
$72,240
Median Income
below US average
$390,000
Median House Price
above US average
$2090.98
Average Rent
above US average
10%
Poverty Rate
below US average
3.5%
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 $72,240.

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Income Needed to Buy

βœ— Stretch
$122k/year
Based on $390,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $122k vs median $72,240
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Income Needed to Rent

⚠ Stretch
$90k/year
Based on $2090.98/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $90k vs median $72,240
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Newton, NJ

Newton, NJ, is a charming town located in Sussex County, nestled in the northern part of New Jersey. With a population of around 8,000 residents, it serves as the county seat and boasts a rich history, dating back to its founding in the late 18th century. The town is known for its picturesque downtown area, featuring a mix of historic buildings, boutique shops, and local eateries. Nature enthusiasts can explore the surrounding landscapes, including the nearby Kittatinny Mountains and numerous parks, such as Memory Park, which offers walking trails and recreational facilities. Newton also hosts community events throughout the year, fostering a strong sense of local pride. Education is a priority, with well-regarded public schools serving the community. Additionally, the town’s prime location along Route 206 provides convenient access to neighboring towns, making it a desirable place for both residents and visitors. Overall, Newton combines small-town charm with access to outdoor activities and community-driven initiatives, making it a lovely place to live or visit.

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