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
$480,000 buys the median home in Edison right now. With 20% down, that's a $96,000 down payment and a $384,000 loan, set against a $95,000 median household income.
Property taxes in Edison run 2.4% of assessed value, above the 1.1% national average. On the median home, that's $11,520 a year, or $960 added to the monthly payment.
Unlike the nine no-income-tax states, New Jersey taxes wage income. Worth running your actual take-home pay against the $3,649/month payment here before locking in a target price.
Day-to-day expenses in Edison track at 125 against the national 100 baseline, above average once you look past the mortgage payment itself.
Edison's median home price runs 16% higher than nearby Newark: $415,000 there versus $480,000 here.
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.
Compare Top Edison Mortgage LendersNewark
$415,000 median
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$425,000 median