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City · 10,954 residents · Morris County, New Jersey

Oak Ridge , New Jersey

In Oak Ridge, a typical home is worth $436,100 and typical rent is $1,372 a month. Compared with all of Morris County, typical rent is 28% lower, the typical home value is 25% lower, and the share of households that own their home is 12 points higher.

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  • Typical home value

    $436,100

    25% below the county

    4% below New Jersey

    • Oak Ridge
    • Morris
    • New Jersey

  • Typical rent

    $1,372a month

    28% below the county

    20% below New Jersey

    • Oak Ridge
    • Morris
    • New Jersey

  • Typical household income

    $121,875a year

    11% below the county

    18% above New Jersey

    • Oak Ridge
    • Morris
    • New Jersey

  • Households that own their home

    87%

    12 points above the county

    23 points above New Jersey

    • Oak Ridge
    • Morris
    • New Jersey

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

Oak Ridge 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 Oak Ridge apart

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

  1. The typical rent in Oak Ridge is $1,372 a month, 28% less than in Morris County as a whole ($1,904).

  2. The typical home in Oak Ridge is worth $436,100, 25% less than in Morris County as a whole ($582,500).

  3. 87% of households in Oak Ridge own their home, against 74% in Morris County.

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

The homes here

Housing in Oak Ridge

What homes there are in Oak Ridge, 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, standing on their own, make up 82% of homes here, against 65% in Morris County.

Year built

The typical home in Oak Ridge was built in 1981, 10 years after the typical one in Morris County.

Homes in Oak Ridge are bigger: 75% have 3 bedrooms or more; in Morris County, 65%.

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

$2,706 a month

Morris County: $3,295 a month

Without a mortgage

$1,322 a month

Morris County: $1,385 a month

Owners with a mortgage

70%

Morris County: 65%

In Oak Ridge, 70% of owners have a mortgage, and their typical cost is $2,706 a month, against $3,295 in Morris County. Without one it drops to $1,322.

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

Oak Ridge does not have the same boundaries as in 2015–2019: that is why there is no change to compare. For reference, in Morris County the typical home value rose 28%.

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

MeasureOak RidgeMorris 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 2.512.622.622.53
Drive alone 76%66%62%69%
Carpool 7%6%8%9%
Public transit Unreliable estimate3%8%3%
Walk or bike Unreliable estimate2%3%3%
Work from home 14%22%17%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

A household in Oak Ridge has 2.51 people on average, about the same as in Morris County (2.62).

To get to work, 76% of workers in Oak Ridge drive alone; 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 Oak Ridge?

A typical home costs more than the typical income allows

We start with a typical home in Oak Ridge, worth $436,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 40% of the typical household income in Oak Ridge, which is $121,875 a year. For that payment to be 28% of income, a household would need to earn about $176,040 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 Oak Ridge. 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 $15,264 (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

$4,108

at 7.18% · 30 years

Loan amount
$428,201
Total interest
$616,080
Paid off in
November 2056

Includes $7,365 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,844 a month

  • Tight

    $2,844 to $3,656 a month

  • Hard

    more than $3,656 a month

    Your payment · 40%

Compared with the typical household income in Oak Ridge ($121,875 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$4,108
Principal & interest$2,901
Property tax$832
Home insurance$182
FHA mortgage insurance (MIP)$193

You need at least $15,264 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

Oak Ridge and Morris County

Oak Ridge 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).

Oak Ridge's own numbers

Typical home value
$436,100
Typical monthly rent
$1,372
Typical yearly household income
$121,875
Households that own their home
87%
Effective property tax rate
2.29%

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 Oak Ridge

A typical home in Oak Ridge is worth $436,100: 25% below the county and 4% below New Jersey. With the typical household income in Oak Ridge ($121,875 a year), a typical home costs 3.6 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.

  • Oak Ridge 3.6 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

Oak Ridge 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
  • Oak Ridge $436,100
  • Morris $582,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Oak Ridge $1,372
  • Morris $1,904
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Oak Ridge $121,875
  • Morris $137,326
  • New Jersey $103,556
  • United States $80,734
See the full table
Oak Ridge next to Morris County and New Jersey
Measure Oak Ridge Morris County New Jersey U.S.
Typical home value $436,100 $582,500 $454,400 $332,700
Typical monthly rent $1,372 $1,904 $1,720 $1,413
Typical yearly household income $121,875 $137,326 $103,556 $80,734
Households that own their home 87% 74% 64% 65%
Typical yearly property tax $10,001 $10,001 $9,590 $3,119
Effective property tax rate 2.29% 1.72% 2.11% 0.94%
Renters with high rent for their income 48% 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 Oak Ridge

For a typical $436,100 home in Oak Ridge, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Oak Ridge's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $4,108a month

    Least cash to close
    Down payment
    $15,264
    Cash to close
    $28,347
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $193

  • Conventional, 5% down $4,028a month

    Down payment
    $21,805
    Cash to close
    $34,888
    Rate
    7.18%
    Mortgage insurance
    PMI · $207

  • Conventional, 20% down, no PMI $3,377a month

    Down payment
    $87,220
    Cash to close
    $100,303
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,781a month

    Down payment
    $65,415
    Cash to close
    $78,498
    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 Oak Ridge and for Morris County.

Property tax

Effective rate in Oak Ridge

2.29%of the home’s value each year

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

  • Oak Ridge 2.29%
  • 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 Oak Ridge

Typical rent in Oak Ridge is $1,372 a month: 28% below the county. In Oak Ridge, 48% 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 Oak Ridge

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Oak Ridge is in ZIP code 07438.

For 2 bedrooms it is $2,210: $23 less than the fair market rent for Morris County ($2,233).

  • 07438 $2,210$2,750

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Oak Ridge 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?

Free help

Help to buy or rent in Oak Ridge

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.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Oak Ridge

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

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

Housing counselors near Oak Ridge

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

  • Housing Partnership for Morris County

    2 E Blackwell St Ste 12, Dover · 10 miles away

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

  • Credit.org - New Jersey Branch

    101 Eisenhower Pkwy, Roseland · 17 miles away · Spanish

    Also serves in other languages.

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

  • Housing Authority of the City of Paterson

    60 Van Houten St, Paterson · 19 miles away

    • Budget and financial counseling
    • Pre-purchase counseling
    • and 1 more
    (973) 345-5085

Every agency in Morris County All counseling agencies in New Jersey

Help in Spanish near Oak Ridge

1 of the 3 agencies on this list says it serves 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 Oak Ridge

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

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

4 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 Oak Ridge, 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 Oak Ridge.

All guides
Three generations of a family gather on the porch of their home.

Questions

Housing questions about Oak Ridge

Short answers with the numbers for Oak Ridge 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 Oak Ridge?

The typical home value in Oak Ridge is $436,100, 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 Oak Ridge?

Typical rent in Oak Ridge is $1,372 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 Oak Ridge?

Oak Ridge 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 Oak Ridge?

The typical homeowner in Oak Ridge pays $10,001 a year, according to the U.S. Census Bureau. That is 2.29% of the home’s value; in Morris County, the rate is 1.72%.

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

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).