Total monthly cost of ownership
Cost to Own a Home in Upper Greenwood Lake, New Jersey
A $331,000 home here costs
$3,136per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,702. The real number is $1,435 higher every month — 84% 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.
Upper Greenwood Lake against Passaic County and New Jersey
| Measure | Upper Greenwood Lake | Passaic County |
|---|---|---|
| Median home value | $331,400 | $439,400 |
| Median property tax | $9,616 | $10,001 |
| Effective tax rate | 2.902% | 2.276% |
| Median gross rent | $2,120 | $1,553 |
| Population | 3,621 | 518,289 |
Upper Greenwood Lake extends across 2 counties. Figures here use Passaic County, where most of its housing sits.
The weather behind that power bill
Upper Greenwood Lake sits in Passaic County, which averages a high of 84.3°F in its hottest month and a low of 19.9°F in its coldest, with 48.2" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 837 cooling and 5,635 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Passaic County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Passaic County
Full Passaic County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Upper Greenwood Lake?
A $331,000 home in Upper Greenwood Lake, New Jersey costs approximately $3,136 per month with 20% down at 6.66%. That is $1,702 principal and interest, $800 property tax, $81 homeowners insurance, $277 utilities and $276 set aside for maintenance.
What is the property tax rate in Upper Greenwood Lake?
Upper Greenwood Lake has an effective property tax rate of 2.902%, based on a median home value of $331,400 and median real estate taxes of $9,616. That is higher than the Passaic County average of 2.276%.
What is the average home price in Upper Greenwood Lake?
The median owner-occupied home value in Upper Greenwood Lake, New Jersey is $331,400, against $439,400 across Passaic County.
Is it cheaper to rent or buy in Upper Greenwood Lake?
Median gross rent in Upper Greenwood Lake is $2,120 a month, against $3,136 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 Upper Greenwood Lake — 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.