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Highland Park Real Estate Market Facts

  • $353,000Median home price
    12% higher than New Jersey
  • $1,315Median rent asked
    8% higher than New Jersey
  • 41.7%Home owners
    35% lower than New Jersey
  • 2.5People per home
    6% lower than New Jersey
The above shows an overview of the real estate market in Highland Park, NJ. Note how the median home price for Highland Park, NJ runs $353,000, which is 12% higher than the average property price for New Jersey. So you’re going to get real estate in Highland Park, NJ that is on-average less affordable than what you’ll find in the rest of New Jersey. As for rent, the median for Highland Park, NJ runs $1,315, which is comparatively 8% higher than the average rent for New Jersey. For Highland Park, NJ, about 41.7% of the population consist of home owners with about 2.5 people living in each property on average. Whether you’re looking for condos or townhomes that are low-maintenance and affordable or sprawling mansions, Highland Park, NJ offers a wide variety of real estate. To find your perfect home in Highland Park, NJ, filter your choice by price, location, and number of beds and baths using the search area above.

Highland Park Home Affordability

  • $353,000Median home price
    12% higher than New Jersey
  • $67,829Median home income
    8% lower than New Jersey
  • 5.2xHome price to income ratio
    21% higher than New Jersey
When deciding where to purchase Highland Park, NJ real estate, home affordability is one of the top deciding factors. One way that you can calculate the affordability of your next home is to use this formula: median home price to median household income ratio. In Highland Park, NJ the median home price is $353,000 and $67,829 is the median household income. As a result, the home price to income ratio in Highland Park, NJ is 5.2x, which is 21% higher than the New Jersey average. In order to determine the home affordability ratio, you would divide the median home price by the median home income. If you find that in Highland Park, NJ the home price to income ratio is lower than average, that means that in general, housing is more affordable. While there more than just one factor in deciding home affordability, you can use the home affordability calculator below as an additional tool when deciding how much you can and should pay for real estate in Highland Park, NJ.

Highland Park Affordability Calculator

Include PMI
You can afford a home up to:
Debt-to-income ratio
Monthly income breakdown
  • Monthly income
  • Monthly payment
  • Debt payment
  • Income taxes
  • Remainder
When looking for real estate in Highland Park, NJ, finding one that won't strain your budget is imperative. That's when the home affordability calculator comes in handy. It allows you to calculate the cost of a property in Highland Park, NJ, not only by considering your income, but debts and down payment amounts as well. You can personalize the home affordability calculator even further by adding in additional factors like length of mortgage term, property taxes, home insurance costs, mortgage rate, and HOA dues. The calculator will come up with an estimated cost of home ownership and display an amount that would fit within your budget. Knowing this figure will help you find a home that you can afford in Highland Park, NJ and keep you from looking at places that are out of financial reach. Therefore, you can avoid disappointment and emotional attachment to homes you would not be able to afford. Additionally, this tool allows you to balance your budget because it also calculates the amount of money left over for savings and other expenses.

Highland Park Mortgage Calculator

Your monthly payment will be:
Monthly payment breakdown
  • Monthly payment
  • Mortgage
  • PMI fees
  • Property tax
  • Home insurance
  • HOA dues
If I buy a real estate in Highland Park, NJ, what can I expect to pay monthly? There are a number of different factors that will go in to determining your monthly cost. While most people understand how significant the overall price of the house goes into determining the payment amount, it's also important to know that there are a variety of other variables to consider. These include things such as property taxes, private mortgage insurance (PMI), home owner's association dues, interest rate, and how much of a down payment has been made on the house. Understanding these is a great way to reduce overall payment. For example, you can reduce the private mortgage insurance by making a down payment of 20%. The mortgage calculator above will have all of these variables already filled out with default data, but you can customize it to give you a much more accurate reading. Generally speaking, you want to keep your debt to income ratio at about 36% when calculating your monthly house payment, which means paying no more than 36% of your monthly salary towards your housing and other debts.

Highland Park Demographics

  • 14,245Population
  • 7,824People / sq mile
  • 33.9Median age
  • 0.9:1Male/Female ratio

Nearby cities with low home prices

City, StatePopulationHome PriceNational Avg.
Zarephath, NJ8$0100%
Rossmoor, NJ2,904$90,60051%
Clearbrook Park, NJ3,114$155,00016%
Concordia, NJ3,156$166,50010%
Keansburg, NJ9,904$183,0001%
Highland Park, NJ14,245$353,00091%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Carthage, MO14,247$84,80054%
Rio Grande City, TX14,242$77,80058%
Swampscott, MA14,250$447,400142%
Red Hill, SC14,251$157,80015%
Lincoln, IL14,253$86,10053%
Highland Park, NJ14,245$353,00091%
Source: The Highland Park, NJ housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).