Quick facts: Ridgewood, NJ

Quick Facts

112.9
Cost of Living
above US average
26,168
Population
8.03
Crime Rate per 1000
below US average
$211,224
Median Income
above US average
$1,949,000
Median House Price
above US average
$3287.63
Average Rent
above US average
Poverty rate Data is updating, will be available soon
3.9%
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 $211,224.

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Income Needed to Buy

βœ— Stretch
$611k/year
Based on $1,949,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $611k vs median $211,224
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Income Needed to Rent

βœ“ Affordable
$141k/year
Based on $3287.63/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($211,224) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Ridgewood, NJ

Ridgewood, New Jersey, is a charming suburban community located in Bergen County, just 20 miles northwest of Manhattan. Known for its picturesque tree-lined streets and vibrant downtown area, Ridgewood offers a blend of small-town charm and modern amenities. The town features a variety of shops, boutiques, restaurants, and cafes, making it a popular destination for both residents and visitors. Ridgewood is also renowned for its excellent school system, which consistently ranks among the top in the state, making it a desirable location for families. The local parks and recreational facilities provide ample opportunities for outdoor activities, and the Glen Rock Pool and Graydon Pool are popular summer hangouts. Transportation is convenient, with a direct NJ Transit train line to Hoboken and Manhattan, catering to commuters. Cultural and community events throughout the year foster a strong sense of belonging among residents. With its rich history and active community life, Ridgewood embodies the quintessential suburban lifestyle while remaining close to the vibrant energy of New York City.

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