Median home value is about $637,500 — about 83% above the U.S. median home value ($348,079).
Housing tenure and rents show median gross rent around $1,747 (about 50% above the U.S. median rent ($1,163)), and owner-occupancy near 75.8% (about 10.4 points above the national owner-occupancy rate (65.4%)).
To comfortably buy a median-priced home in ZIP 07661 in River Edge, NJ, a household would need roughly $175,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $4,095. That is roughly in line with the local median household income ($155,827). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.