Housing costs in Mendham borough?
A typical home costs
$746,300, which is 120.7% more expensive than the national average of
$338,100 and 72.7% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Mendham borough costs
$1,850 per month, which is 29.4% more than the national average of
$1,430 and 7.6% more than the state average of
$1,710.
Can I afford Mendham borough?
To live comfortably in Mendham borough, New Jersey, a minimum annual income of
$142,920 for a family, and
$61,600 for a single person is recommended.
What does A.I. say about Mendham borough?
Mendham Borough, NJ has a relatively high cost of living compared to other areas in New Jersey. The median home price in Mendham is over $750,000, which is significantly higher than the state median of $340,400. Additionally, the average individual income for residents of Mendham is almost $120K per year, which is more than double the state average. The cost of goods and services are also higher in Mendham due to its relative wealth; however, it is still cheaper than many similar communities in the tri-state area. Ultimately, although living in Mendham Borough can be costly, it comes with the benefits of an excellent school system and a safe and welcoming community atmosphere.