Total monthly cost of ownership
Cost to Own a Home in North Caldwell, New Jersey
A $906,000 home here costs
$6,745per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $4,658. The real number is $2,088 higher every month — 45% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
North Caldwell against Essex County and New Jersey
| Measure | North Caldwell | Essex County |
|---|---|---|
| Median home value | $906,100 | $494,400 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 1.104% | 2.023% |
| Median gross rent | $3,250 | $1,459 |
| Population | 6,622 | 854,130 |
The weather behind that power bill
North Caldwell sits in Essex County, which averages a high of 85.2°F in its hottest month and a low of 22.9°F in its coldest, with 44.88" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 973 cooling and 5,272 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Essex County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Essex County
Full Essex County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in North Caldwell?
A $906,000 home in North Caldwell, New Jersey costs approximately $6,745 per month with 20% down at 6.66%. That is $4,658 principal and interest, $834 property tax, $222 homeowners insurance, $277 utilities and $755 set aside for maintenance.
What is the property tax rate in North Caldwell?
North Caldwell has an effective property tax rate of 1.104%, based on a median home value of $906,100 and median real estate taxes of $10,001. That is lower than the Essex County average of 2.023%.
What is the average home price in North Caldwell?
The median owner-occupied home value in North Caldwell, New Jersey is $906,100, against $494,400 across Essex County.
Is it cheaper to rent or buy in North Caldwell?
Median gross rent in North Caldwell is $3,250 a month, against $6,745 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for North Caldwell — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for New Jersey.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.