CALCMONEY // MORTGAGE // NJ // EDISON
Calculate your monthly mortgage payment using Edison-specific property tax rates and local market data.
$480,000
6.9%
2.4%
125
| Principal & Interest | $2,529 |
| Property Tax | $960 |
| Homeowners Insurance (est.) | $160 |
| Total Monthly Payment (PITI) | $3,649 |
$96,000
$526,449
$156,387/yr
The median home price in Edison is $480,000, above the national median of $420,000. With a median household income of $95,000, the price-to-income ratio is 5.1x — meaning buyers typically spend 5.1 years of gross income on the purchase price.
Property taxes in Edison run 2.4% of assessed value. On the median home, that is $11,520 per year, or $960 per month added to your mortgage payment. This is significantly above the national average of 1.1%, making property taxes a major factor in your total housing cost.
New Jersey has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Edison is 125 (national average = 100). Expect to pay more for groceries, transportation, and services in addition to housing.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $384,000 loan saves $17,280 in interest over 30 years.
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