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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Garwood, NJ Housing Affordability Index

Garwood, New Jersey has an MBR Housing Affordability Index score of 80.2 (Moderately Less Affordable) as of October 30, 2026, ranking 338th most affordable of 455 scored New Jersey cities, compared with 83.4 statewide and 97.4 nationally. On a median-priced $533,300 home with 20% down, the New Jersey average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $2,915, or 32% of the city’s $110,670 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Garwood is updated every night from live New Jersey mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Garwood MBR-HAI 80.2 Moderately Less Affordable
Rank in New Jersey 338 of 455 1 = most affordable
New Jersey 83.4 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.27% New Jersey lenders
Median home value $533,300 U.S. Census Bureau

Garwood is 3.2 points below the New Jersey score. Scores as of October 30, 2026. See the New Jersey index

View Garwood Mortgage Rates

What It Takes to Buy in Garwood

$2,915/mo
Principal & Interest
Median home, 20% down, 7.27%
$124,900
Income Needed
To keep the payment at 28% of income
$110,670
Median Household Income
New Jersey: $103,556
4.8x
Price-to-Income Ratio
New Jersey: 4.4x
$2,559/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$9,741/yr
Median Property Tax
New Jersey figure
41.0%
Owner Cost Burden
Owners spending 30%+ of income on housing
33.7%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Garwood, New Jersey. The rate is the New Jersey average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Garwood Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Garwood, New Jersey score: 80.2 (Moderately Less Affordable), ranked 338 of 455 New Jersey cities. monitorbankrates.com/housing-affordability-index/new-jersey/garwood”