Español

Este sitio también está en español. Leer en español

City · 8,854 residents · Morris County, New Jersey

Boonton , New Jersey

In Boonton, a typical home is worth $495,400 and typical rent is $1,849 a month. Compared with all of Morris County, typical household income is 17% lower, the typical home value is 15% lower, and the share of households that own their home is 12 points lower.

WhatsApp

  • Typical home value

    $495,400

    15% below the county

    9% above New Jersey

    • Boonton
    • Morris
    • New Jersey

  • Typical rent

    $1,849a month

    3% below the county

    8% above New Jersey

    • Boonton
    • Morris
    • New Jersey

  • Typical household income

    $114,302a year

    17% below the county

    10% above New Jersey

    • Boonton
    • Morris
    • New Jersey

  • Households that own their home

    62%

    12 points below the county

    2 points below New Jersey

    • Boonton
    • Morris
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$674,887
3.9% more than 12 months ago
Typical rent
$2,522 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Boonton is in Morris County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Morris County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Boonton apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Lake Hiawatha, the typical rent is $1,550: 16% less than in Boonton ($1,849).

  2. 62% of households in Boonton own their home, against 74% in Morris County.

  3. The typical household income in Boonton is $114,302, 17% less than in Morris County as a whole ($137,326).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Boonton

What homes there are in Boonton, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

Detached houses are the majority in Boonton (56%), but less so than in Morris County (65%).

Year built

Homes in Boonton are older: the typical year built is 1956; in Morris County, 1971.

Much as in Morris County, 65% of homes in Boonton have 3 bedrooms or more.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,288 a month

Morris County: $3,295 a month

Without a mortgage

$1,379 a month

Morris County: $1,385 a month

Owners with a mortgage

64%

Morris County: 65%

In Boonton, 64% of owners have a mortgage; their typical cost is $3,288 a month, about the same as in Morris County.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in Morris County, the typical home value in Boonton rose 28% since 2015–2019.

The typical rent in Boonton rose 41% over the same time; in Morris County, it rose 24%.

While home values in Boonton changed +28% and rent +41%, the typical household income rose 31%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureBoontonMorris CountyNew JerseyUnited States
Rental vacancy Unreliable estimate3.3%3.5%5.5%
Homeowner vacancy Unreliable estimate0.5%0.7%0.9%
More than one person per room Unreliable estimate1.7%4.0%3.4%
People per household 2.472.622.622.53
Drive alone 76%66%62%69%
Carpool Unreliable estimate6%8%9%
Public transit Unreliable estimate3%8%3%
Walk or bike Unreliable estimate2%3%3%
Work from home 20%22%17%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Households in Boonton are smaller: 2.47 people on average; in Morris County, 2.62.

In Boonton, 76% of workers drive alone to work; in Morris County, 66%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Boonton?

A typical home costs more than the typical income allows

We start with a typical home in Boonton, worth $495,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 48% of the typical household income in Boonton, which is $114,302 a year. For that payment to be 28% of income, a household would need to earn about $195,200 a year.

The calculator's FHA and conventional loan limits are those of all of Morris County.

Your numbers

Local data
$

Starts at the typical home value in Boonton. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $17,339 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$4,555

at 7.18% · 30 years

Loan amount
$486,427
Total interest
$699,854
Paid off in
November 2056

Includes $8,366 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,667 a month

  • Tight

    $2,667 to $3,429 a month

  • Hard

    more than $3,429 a month

    Your payment · 48%

Compared with the typical household income in Boonton ($114,302 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$4,555
Principal & interest$3,295
Property tax$834
Home insurance$206
FHA mortgage insurance (MIP)$219

You need at least $17,339 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Boonton and Morris County

Boonton is in Morris County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Boonton's own numbers

Typical home value
$495,400
Typical monthly rent
$1,849
Typical yearly household income
$114,302
Households that own their home
62%
Effective property tax rate
2.02%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Morris County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,233
Price change over 5 years (FHFA)
+53%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Morris County.

Everything about Morris County

Buying

Buying a home in Boonton

A typical home in Boonton is worth $495,400: 15% below the county and 9% above New Jersey. With the typical household income in Boonton ($114,302 a year), a typical home costs 4.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Boonton 4.3 years
  • Morris 4.2 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Morris County

According to FHFA’s house price index, home prices in Morris County rose 68% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Morris County.

Period County New Jersey U.S.
Last year (2025) +5.9% +6.2% +2.9%
5 years (2020–2025) +53% +63% +47%
10 years (2015–2025) +68% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Boonton next to Morris County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Boonton $495,400
  • Morris $582,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Boonton $1,849
  • Morris $1,904
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Boonton $114,302
  • Morris $137,326
  • New Jersey $103,556
  • United States $80,734
See the full table
Boonton next to Morris County and New Jersey
Measure Boonton Morris County New Jersey U.S.
Typical home value $495,400 $582,500 $454,400 $332,700
Typical monthly rent $1,849 $1,904 $1,720 $1,413
Typical yearly household income $114,302 $137,326 $103,556 $80,734
Households that own their home 62% 74% 64% 65%
Typical yearly property tax $10,001 $10,001 $9,590 $3,119
Effective property tax rate 2.02% 1.72% 2.11% 0.94%
Renters with high rent for their income 53% 45% 52% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Morris County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Boonton

For a typical $495,400 home in Boonton, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Boonton's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $4,555a month

    Least cash to close
    Down payment
    $17,339
    Cash to close
    $32,201
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $219

  • Conventional, 5% down $4,464a month

    Down payment
    $24,770
    Cash to close
    $39,632
    Rate
    7.18%
    Mortgage insurance
    PMI · $235

  • Conventional, 20% down, no PMI $3,725a month

    Down payment
    $99,080
    Cash to close
    $113,942
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,183a month

    Down payment
    $74,310
    Cash to close
    $89,172
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Boonton and for Morris County.

Property tax

Effective rate in Boonton

2.02%of the home’s value each year

$10,001 a year for the typical owner in Boonton.

  • Boonton 2.02%
  • Morris 1.72%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Morris County

FEMA does not publish these numbers by city: they are for all of Morris County.

FEMA’s maps count no homes in the high-risk zone in Morris County. That does not mean it cannot flood: check your address.

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Boonton

Typical rent in Boonton is $1,849 a month: 3% below the county. In Boonton, 53% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Morris County, by unit size. To pay the 2-bedroom one ($2,233 a month) without spending more than 30% of your income, you would need to earn $42.94 an hour working full time.

HUD fair market rent for all of Morris County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,637 $31.48 $65,480
1 bedroom $1,850 $35.58 $74,000
2 bedrooms $2,233 $42.94 $89,320
3 bedrooms $2,785 $53.56 $111,400
4 bedrooms $3,188 $61.31 $127,520

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Boonton

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Boonton is in ZIP code 07005.

For 2 bedrooms it is $2,460: $227 more than the fair market rent for Morris County ($2,233).

  • 07005 $2,460$3,070

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Boonton when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Boonton

HUD lists 2 buildings with rents for lower incomes in Boonton. These are the largest.

  • Jewish Service For Developmentally Disabled 5 Pleasant Ter, Boonton 07005 5 low-income homes · For people with disabilities
  • New Bridge Independent Housing 411 Birch St, Boonton 07005 5 low-income homes · For people with disabilities

See all 45 buildings in Morris County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Boonton

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Morris County; none says it serves in Spanish.

An older man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Boonton

No down payment, repair or rent-help program on our list is for Boonton or Morris County. The ones below are statewide in New Jersey: they work in Boonton the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Boonton

The HUD-approved agencies closest to the center of Boonton, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Credit.org - New Jersey Branch

    101 Eisenhower Pkwy, Roseland · 7 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 4 more
    (800) 431-8157

  • Housing Partnership for Morris County

    2 E Blackwell St Ste 12, Dover · 8 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (973) 659-9222

  • Consumer Credit and Budget Counseling, DBA National Foundation for Debt Management

    26 Park St Ste 2000, Montclair · 11 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (727) 755-8558

Every agency in Morris County All counseling agencies in New Jersey

Help in Spanish near Boonton

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Boonton

HUD’s record names them for Boonton or Morris County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Boonton Housing Authority Public housing and Section 8 vouchers (973) 335-0846
  • Morris County Housing Authority Public housing and Section 8 vouchers (973) 540-0389

3 other authorities have an office in Morris County: see the list Source: HUD

Cities

Other cities in Morris County

These cities are also in Morris County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Morris County Housing in New Jersey
See 14 more cities in Morris County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Boonton, with the typical home value.

Neighboring counties

If Morris County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Boonton.

All guides
A father, a mother and their daughter smile among the avocado trees by their home in Somis, California.

Questions

Housing questions about Boonton

Short answers with the numbers for Boonton and all of Morris County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Boonton?

The typical home value in Boonton is $495,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Morris County it is $582,500.

How much does it cost to rent in Boonton?

Typical rent in Boonton is $1,849 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Morris County is $2,233.

What is the FHA loan limit in Boonton?

Boonton uses the FHA limit for all of Morris County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Boonton?

The typical homeowner in Boonton pays $10,001 a year, according to the U.S. Census Bureau. That is 2.02% of the home’s value; in Morris County, the rate is 1.72%.

Where can I find free help to buy or rent in Boonton?

There is 1 HUD-approved counseling agency with an office in Morris County. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).