Housing costs in Mendham?
A typical home costs
$881,300, which is 160.7% more expensive than the national average of
$338,100 and 104.0% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Mendham costs
$1,850 per month, which is 8.2% more than the national average of
$1,710 and 17.3% cheaper than the state average of
$2,170.
Can I afford Mendham?
To live comfortably in Mendham (zip 07945), New Jersey, a minimum annual income of
$168,840 for a family, and
$61,600 for a single person is recommended.
What does A.I. say about Mendham?
The cost of living in 07945 Mendham, NJ is relatively high compared to the national average. According to BestPlaces, the cost of living index in Mendham Township is 111.7, which is 11.7% higher than the U.S. average of 100. This means that goods and services are more expensive than they would be in other parts of the United States. Housing prices tend to be particularly high - according to Zillow, the median home value in Mendham Township is $621,700 as of April 2021 - so people looking to move to this area should factor this into their budgeting plans.