Quick facts: Rutherford, NJ

Quick Facts

112.9
Cost of Living
above US average
18,662
Population
12.06
Crime Rate per 1000
below US average
$128,576
Median Income
above US average
$799,999
Median House Price
above US average
$2933.86
Average Rent
above US average
9%
Poverty Rate
below US average
3.4%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $128,576.

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Income Needed to Buy

βœ— Stretch
$251k/year
Based on $799,999 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $251k vs median $128,576
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Income Needed to Rent

βœ“ Affordable
$126k/year
Based on $2933.86/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($128,576) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Rutherford, NJ

Rutherford is a charming borough located in Bergen County, New Jersey, known for its rich history and quaint, small-town atmosphere. Established in the late 19th century, the town is characterized by tree-lined streets, beautiful parks, and a mix of residential and commercial areas. With a population of around 18,000, Rutherford offers a close-knit community feel, making it an attractive place for families. The town boasts a variety of local shops, restaurants, and cafes, providing residents with a vibrant suburban lifestyle. Notable amenities include the Meadowlands Museum and the Lincoln Park, which offers recreational opportunities for residents. Rutherford is well-connected by public transportation, with easy access to New York City via train, making it a convenient spot for commuters. Education is a key feature of the community, with several schools offering quality education. Overall, Rutherford's blend of historical charm, accessibility, and community spirit make it a delightful place to live and visit.

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