Total monthly cost of ownership
Cost to Own a Home in Woodland Park, New Jersey
A $475,000 home here costs
$4,064per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,442. The real number is $1,622 higher every month — 66% 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.
Woodland Park against Passaic County and New Jersey
| Measure | Woodland Park | Passaic County |
|---|---|---|
| Median home value | $475,400 | $439,400 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 2.104% | 2.276% |
| Median gross rent | $1,773 | $1,553 |
| Population | 13,284 | 518,289 |
The weather behind that power bill
Woodland Park 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 Woodland Park?
A $475,000 home in Woodland Park, New Jersey costs approximately $4,064 per month with 20% down at 6.66%. That is $2,442 principal and interest, $833 property tax, $116 homeowners insurance, $277 utilities and $396 set aside for maintenance.
What is the property tax rate in Woodland Park?
Woodland Park has an effective property tax rate of 2.104%, based on a median home value of $475,400 and median real estate taxes of $10,001. That is lower than the Passaic County average of 2.276%.
What is the average home price in Woodland Park?
The median owner-occupied home value in Woodland Park, New Jersey is $475,400, against $439,400 across Passaic County.
Is it cheaper to rent or buy in Woodland Park?
Median gross rent in Woodland Park is $1,773 a month, against $4,064 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 Woodland Park — 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.