Mendham, NJ is #2 on the list Top 100 Best Places to Raise a Family in the Northeast in 2023
Cost of living in Mendham, New Jersey
Cost of living compared to USAthe highest
Cost of living compared to New Jerseyhigh
Median household incomethe highest
Is it expensive to live in Mendham, New Jersey? When calculating the cost of living in Mendham, New Jersey we factor in state income tax rates, average housing rental prices, average property values, cost of living index, and more.
The cost of living in Mendham, New Jersey is the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in New Jersey, while median household income in Mendham is $191,071 which is the highest Analytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in New Jersey.
Taxes in Mendham, New Jersey
The sales tax rate in Mendham, New Jersey is 6.6%. Last year, the average property taxes paid was 2.1% Mendham, New Jersey.
Here is the table with the State Income Taxes in the state of New Jersey:
State Income Tax Brackets (Single):
| Income Bracket Threshold | Income Bracket Ceiling | New Jersey Income Tax Rate |
|---|---|---|
| $0 | $20,000 | 1.4% |
| $20,000 | $35,000 | 1.75% |
| $35,000 | $40,000 | 3.5% |
| $40,000 | $75,000 | 5.25% |
| $75,000 | $500,000 | 6.37% |
| $500,000 | $1,000,000 | 8.97% |
| $1,000,000 | $9,999,999 | 10.75% |
State Income Tax Brackets (Married):
| Income Bracket Threshold | Income Bracket Ceiling | New Jersey Income Tax Rate |
|---|---|---|
| $0 | $20,000 | 1.4% |
| $20,000 | $50,000 | 1.75% |
| $50,000 | $70,000 | 2.45% |
| $70,000 | $80,000 | 3.5% |
| $80,000 | $150,000 | 5.25% |
| $150,000 | $500,000 | 6.37% |
| $500,000 | $1,000,000 | 8.97% |
Housing costs in Mendham, New Jersey
The average cost of a single-family home compared to USAthe highest
The average cost of a single-family home compared to New Jerseythe highest
In Mendham, New Jersey, 92.0% of the population owns their homes, while approximately 8.0% rent. The average cost of a single-family home in Mendham, New Jersey in 2022 is $623,083 which is the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in the United States and the highestAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest in New Jersey. The average one-bedroom apartment cost is approximately $1,540 per month.
| Rental Size | Monthly Cost | Compared to New Jersey |
|---|---|---|
| 1 Bedroom | $1,540 | highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 2 Bedroom | $1,870 | highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 3 Bedroom | $2,370 | highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
| 4 Bedroom | $2,830 | highAnalytics team at Dwellics grouped locations into 5 ranges for each metric: Lowest, Low, Moderate, High, Highest |
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