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Edison mortgage calculator
A median-priced Edison, NJ home at 6.75% over 30 years, with New Jersey property tax of 2.23% and $1,500 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$5,395 a month, all in
Principal and interest are $3,794; escrow and PMI add the rest. Over the full term the loan costs $780,948 in interest. Discounted at 5%, buying here has a net present value of $-33,034 ($336,681 in today’s dollars).
Within New Jersey, Edison is 3rd of the 5 New Jersey markets covered here, between Princeton at the top and Newark at the bottom of a 3.08x spread. A state-level median hides most of that.
Edison carries a premium over the rest of New Jersey: a median home here runs $650,000, about 25% above the state median of $520,000. The deposit moves with it, so the same 20% down is $130,000 rather than $104,000.
A price-to-rent ratio of 18.8 puts Edison in the middle of the range, where the rent-vs-buy answer is decided by how long you stay and what the deposit would otherwise earn.
Monthly cost in Edison vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $650,000 |
|---|---|
| Down payment (10%) | $65,000 |
| Loan amount | $585,000 |
| Principal & interest | $3,794/mo |
| Property tax (2.23%) | $1,208/mo |
| Homeowners insurance | $125/mo |
| PMI while above 80% LTV | $268/mo |
| Total monthly payment | $5,395/mo |
| Comparable rent | $2,880/mo |
What a rate move does to the Edison payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $3,322/mo |
| 6% | $3,507/mo |
| 6.5% | $3,698/mo |
| 7% | $3,892/mo |
| 7.5% | $4,090/mo |
| 8% | $4,293/mo |
Rent or buy in Edison?
Against $2,880 a month in rent, over 7 years renting leaves you about $180,368 better off — $151,737 once 2.5% inflation is stripped out. See the New Jersey rent-vs-buy page.
Where these numbers come from
New Jersey medians come from editorial and are refreshed weekly. The Edison figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.