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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

Oakland, NJ Housing Affordability Index

Oakland, New Jersey has an MBR Housing Affordability Index score of 95.2 (Near National Average) as of October 30, 2026, ranking 187th most affordable of 455 scored New Jersey cities, compared with 83.4 statewide and 97.4 nationally. On a median-priced $591,300 home with 20% down, the New Jersey average 30-year fixed rate of 7.27% means a monthly principal and interest payment of about $3,232, or 24% of the city’s $162,019 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Oakland 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.

Oakland MBR-HAI 95.2 Near National Average
Rank in New Jersey 187 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 $591,300 U.S. Census Bureau

Oakland is 11.8 points above the New Jersey score. Scores as of October 30, 2026. See the New Jersey index

View Oakland Mortgage Rates

What It Takes to Buy in Oakland

$3,232/mo
Principal & Interest
Median home, 20% down, 7.27%
$138,500
Income Needed
To keep the payment at 28% of income
$162,019
Median Household Income
New Jersey: $103,556
3.6x
Price-to-Income Ratio
New Jersey: 4.4x
$3,037/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$9,741/yr
Median Property Tax
New Jersey figure
28.8%
Owner Cost Burden
Owners spending 30%+ of income on housing
35.9%
Renter Cost Burden
Renters spending 30%+ of income on rent

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

Cite the Oakland Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Oakland, New Jersey score: 95.2 (Near National Average), ranked 187 of 455 New Jersey cities. monitorbankrates.com/housing-affordability-index/new-jersey/oakland”