Quick facts: Wayne, NJ

Quick Facts

112.9
Cost of Living
above US average
53,657
Population
5.35
Crime Rate per 1000
below US average
$106,000
Median Income
above US average
$684,321
Median House Price
above US average
$3821.66
Average Rent
above US average
4%
Poverty Rate
below US average
4.1%
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 $106,000.

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Income Needed to Buy

βœ— Stretch
$215k/year
Based on $684,321 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $215k vs median $106,000
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Income Needed to Rent

⚠ Stretch
$164k/year
Based on $3821.66/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $164k vs median $106,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Wayne, NJ

Wayne, New Jersey, is a vibrant suburban community located in Passaic County, approximately 20 miles northwest of New York City. Known for its beautiful residential neighborhoods, Wayne has a population of around 55,000 residents. The town boasts a mix of modern amenities and natural beauty, with over 20 parks and recreational areas such as the scenic Ringwood State Park and the more localized Gipson Park. Wayne is home to the well-known Willowbrook Mall, which offers a wide variety of retail shops, dining options, and entertainment venues. The township is also rich in culture and history, featuring attractions like the Dey Mansion and the Packanack Lake area. The education system in Wayne is highly regarded, with several public and private schools serving the community. The township supports diverse community activities, fostering a strong sense of community spirit. Moreover, its proximity to major highways and public transportation makes it an ideal location for commuters working in NYC, providing both a peaceful suburban lifestyle and easy access to urban amenities. Overall, Wayne is a welcoming town that balances suburban tranquility with local conveniences.

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