Eckerson House · Photo: Zeete · CC BY-SA 4.0Even on the area’s higher pay, Montvale costs more to live in than 94% of U.S. towns
It ranks #356 of 468 in New Jersey for affordability. Up 6.5% in a year, 62% above the New Jersey typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the New York-Newark-Jersey City, NY-NJ metro area ($99K). How TownRatings grades cost of living
Only 3 sales in May 2026: in a market this size, monthly medians swing a lot, so the typical value is the steadier guide.
The grade measures what housing costs against what households in the area earn. Montvale’s area earns well above the typical U.S. town ($99K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 24% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 62% of renters.
In dollars
- $933Ktypical home, 62% above the New Jersey typical homeZillow, September 2026
- $2,840a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 113prices across the New York metro, where the U.S. is 100 (housing 149)BEA Regional Price Parities, 2024
In paychecks the grade
- 7.2 yrsof area income buys the typical home; the typical U.S. town: 3.3$99K, New York-area income
- 25%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 62%of renters pay 30%+ of income for housing; across New Jersey: 52%Census 2020–24
- 24%of owners do; the typical U.S. town: 20%Census 2020–24
What Montvale’s housing numbers say
About two in three renters are stretched
62% of renter households spend 30% or more of their income on rent, against 52% across New Jersey. That’s despite a standard two-bedroom costing just 19% of the median household income, so renters here earn far less than the typical household. Renting ↓
Most new homes are apartments and condos
Of the 710 homes permitted in Montvale’s past 10 years, 71% were in buildings with two or more homes, not single-family houses. New homes ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Montvale’s grade
Measured against what households in the area earn, Montvale is more affordable than 6% of U.S. towns, #356 of 468 in New Jersey. Home prices pull the grade down most; the share of households paying 30%+ for housing holds it up.
Prices here have kept pace with New Jersey: up 33.9% in five years, against 35.2% statewide (Zillow).
Up 6.5% in a year
Faster than New Jersey (4%).
Show as a table
| January | Montvale | New Jersey |
|---|---|---|
| 2017 | $602,000 | $313,000 |
| 2018 | $619,000 | $326,000 |
| 2019 | $620,000 | $339,000 |
| 2020 | $619,000 | $353,000 |
| 2021 | $648,000 | $389,000 |
| 2022 | $708,000 | $436,000 |
| 2023 | $740,000 | $466,000 |
| 2024 | $804,000 | $506,000 |
| 2025 | $858,000 | $544,000 |
| 2026 | $897,000 | $562,000 |
| September 2026 | $933,000 | $575,000 |
A typical Montvale home worth $599K in October 2016 is worth about $933K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
A typical home costs 7.2 years of area income
The calculator starts from the area income the grade uses. Switch to Montvale’s own median, or type yours.
That’s $603K short of a typical Montvale home.
A two-bedroom rents for about $2,840 a month here, $3,690 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the New Jersey typical property tax (2.11% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $2,840
Renters already here pay a median of $2,053, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Bergen-Passaic, NJ HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
2 new homes permitted in 2025
Builders were permitted 2 new homes in Montvale in 2025, all single-family houses. That's 0.2 per 1,000 residents, slower than across New Jersey (3.1). Over the past 10 years, Montvale has permitted 710 homes in all.
Between the 2010 and 2020 censuses, Montvale gained 592 residents while 155 new homes were permitted: about 3.8 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across New Jersey: 2 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $996,000 |
| 2025 | 2 | 2 | 0 | $580,000 |
| 2024 | 8 | 8 | 0 | $3.2 million |
| 2023 | 16 | 16 | 0 | $6 million |
| 2022 | 45 | 39 | 6 | $13 million |
| 2021 | 233 | 40 | 193 | $33.1 million |
| 2020 | 331 | 23 | 308 | $57.3 million |
| 2019 | 29 | 29 | 0 | $8.8 million |
| 2018 | 4 | 4 | 0 | $2.4 million |
| 2017 | 20 | 20 | 0 | $6.8 million |
| 2016 | 22 | 22 | 0 | $8.6 million |
| 2015 | 10 | 10 | 0 | $4.8 million |
| 2014 | 12 | 12 | 0 | $3.8 million |
| 2013 | 30 | 18 | 12 | $6.5 million |
| 2012 | 9 | 9 | 0 | $3.8 million |
| 2011 | 5 | 5 | 0 | $1.8 million |
| 2010 | 14 | 14 | 0 | $4.5 million |
| 2009 | 12 | 12 | 0 | $3.7 million |
| 2008 | 36 | 36 | 0 | $7.6 million |
| 2007 | 112 | 112 | 0 | $16.9 million |
| 2006 | 54 | 54 | 0 | $10.8 million |
| 2005 | 19 | 19 | 0 | $6.3 million |
| 2004 | 11 | 11 | 0 | $3.7 million |
| 2003 | 7 | 7 | 0 | $2.5 million |
| 2002 | 9 | 9 | 0 | $1.3 million |
| 2001 | 44 | 44 | 0 | $6.2 million |
| 2000 | 39 | 39 | 0 | $5.3 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
High tax bills, but a low tax rate
The median bill is $10,000+ (New Jersey: $9,590), because homes cost more. As a share of value it’s 1.41%+ a year, against 2.11% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Montvale
Only figures published free for the whole country, each labeled with the area it covers: the New York-Newark-Jersey City, NY-NJ metro area, or New Jersey. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 113 | NJ 109 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 110 | NJ 107 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 127 | NJ 114 | metro | BEA, 2024 |
| Other services U.S. = 100 | 106 | NJ 104 | metro | BEA, 2024 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Montvale vs. its neighbors
Of the 5 towns here with a Zillow value, Montvale has the 2nd-lowest.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Montvale | D | $933K | $710K | 1.41%+ | $2,840 |
| River Vale Township | C− | $998K | $775K | 1.29%+ | $3,030 |
| Upper Saddle River | D− | $1.5M | $1.1M | 0.90%+ | $3,000 |
| Park Ridge | D− | $851K | $706K | 1.42%+ | $2,630 |
| Woodcliff Lake | D | $1.3M | $946K | 1.06%+ | $3,000 |
“+”: the Census reports the tax bill only as $10,000 or more, so the rate is at least that.
Questions about the cost of living in Montvale
Is Montvale expensive to live in?
Measured against what households in the area earn, Montvale costs more than 94% of U.S. towns: a D for cost of living, #356 of 468 in New Jersey. The typical home costs 7.2 years of the median household income of the New York-Newark-Jersey City, NY-NJ metro area ($99K).
How much does a house cost in Montvale?
About $933K, Zillow’s typical value for September 2026, up 6.5% in a year. The New Jersey typical home is $575K.
What salary do you need to live in Montvale?
To buy the typical home with 20% down at 6.3%, about $280,000 a year, keeping the payment (about $6,530 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $114,000.
How much is rent in Montvale?
HUD puts a two-bedroom at about $2,840 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $2,053 (Census 2020–24).
What are property taxes in Montvale?
The median bill is $10,000+ a year, 1.41% of the median home value (New Jersey: $9,590, 2.11%), from the Census 2020–24.
Are home prices in Montvale going up?
Yes: up 6.5% in the past year and 33.9% in five years, against 35.2% across New Jersey (Zillow).
Neighbors talk housing
What Montvale buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.