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City · 7,318 residents · Morris County, New Jersey

Wharton , New Jersey

In Wharton, a typical home is worth $380,700 and typical rent is $1,720 a month. Compared with all of Morris County, typical household income is 38% lower, the typical home value is 35% lower, and the share of households that own their home is 15 points lower.

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  • Typical home value

    $380,700

    35% below the county

    16% below New Jersey

    • Wharton
    • Morris
    • New Jersey

  • Typical rent

    $1,720a month

    10% below the county

    About the same as New Jersey

    • Wharton
    • Morris
    • New Jersey

  • Typical household income

    $85,767a year

    38% below the county

    17% below New Jersey

    • Wharton
    • Morris
    • New Jersey

  • Households that own their home

    59%

    15 points below the county

    5 points below New Jersey

    • Wharton
    • Morris
    • New Jersey

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

Market now, with Zillow data

Zillow data
Typical home value
$487,156
0.8% more than 12 months ago
Typical rent
$2,478 a month

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

Wharton 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 Wharton apart

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

  1. The typical household income in Wharton is $85,767, 38% less than in Morris County as a whole ($137,326).

  2. The typical home in Wharton is worth $380,700, 35% less than in Morris County as a whole ($582,500).

  3. 59% of households in Wharton own their home, against 74% in Morris County.

  4. According to Zillow, in the 12 months to September 2026 the typical home value in Wharton rose 0.8%; in New Jersey, it rose 4%.

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

The homes here

Housing in Wharton

What homes there are in Wharton, 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

In Wharton, 5 in 10 homes are single-family detached houses; in Morris County, 7.

Year built

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

$2,429 a month

Morris County: $3,295 a month

Without a mortgage

$1,138 a month

Morris County: $1,385 a month

Owners with a mortgage

72%

Morris County: 65%

Owning costs less in Wharton: with a mortgage, the typical cost is $2,429 a month; in Morris County, $3,295. Without one, $1,138.

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

The typical home value in Wharton rose 27% since 2015–2019, about the same as in Morris County (28%).

The typical rent in Wharton stayed about the same over that time: the difference is within the Census margin of error.

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

MeasureWhartonMorris 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 2.392.622.622.53
Drive alone 78%66%62%69%
Carpool Unreliable estimate6%8%9%
Public transit Unreliable estimate3%8%3%
Walk or bike Unreliable estimate2%3%3%
Work from home 9%22%17%15%
Other means Unreliable estimate1%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Households in Wharton are smaller: 2.39 people on average; in Morris County, 2.62.

In Wharton, 78% 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 Wharton?

A typical home costs more than the typical income allows

We start with a typical home in Wharton, worth $380,700, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 51% of the typical household income in Wharton, which is $85,767 a year. For that payment to be 28% of income, a household would need to earn about $155,716 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 Wharton. 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 $13,325 (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

$3,633

at 7.18% · 30 years

Loan amount
$373,804
Total interest
$537,816
Paid off in
November 2056

Includes $6,429 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,001 a month

  • Tight

    $2,001 to $2,573 a month

  • Hard

    more than $2,573 a month

    Your payment · 51%

Compared with the typical household income in Wharton ($85,767 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,633
Principal & interest$2,532
Property tax$774
Home insurance$159
FHA mortgage insurance (MIP)$168

You need at least $13,325 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

Wharton and Morris County

Wharton 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).

Wharton's own numbers

Typical home value
$380,700
Typical monthly rent
$1,720
Typical yearly household income
$85,767
Households that own their home
59%
Effective property tax rate
2.44%

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 Wharton

A typical home in Wharton is worth $380,700: 35% below the county and 16% below New Jersey. With the typical household income in Wharton ($85,767 a year), a typical home costs 4.4 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.

  • Wharton 4.4 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

Wharton 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
  • Wharton $380,700
  • Morris $582,500
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Wharton $1,720
  • Morris $1,904
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Wharton $85,767
  • Morris $137,326
  • New Jersey $103,556
  • United States $80,734
See the full table
Wharton next to Morris County and New Jersey
Measure Wharton Morris County New Jersey U.S.
Typical home value $380,700 $582,500 $454,400 $332,700
Typical monthly rent $1,720 $1,904 $1,720 $1,413
Typical yearly household income $85,767 $137,326 $103,556 $80,734
Households that own their home 59% 74% 64% 65%
Typical yearly property tax $9,296 $10,001 $9,590 $3,119
Effective property tax rate 2.44% 1.72% 2.11% 0.94%
Renters with high rent for their income 55% 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 Wharton

For a typical $380,700 home in Wharton, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Wharton's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,633a month

    Least cash to close
    Down payment
    $13,325
    Cash to close
    $24,746
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $168

  • Conventional, 5% down $3,564a month

    Down payment
    $19,035
    Cash to close
    $30,456
    Rate
    7.18%
    Mortgage insurance
    PMI · $181

  • Conventional, 20% down, no PMI $2,996a month

    Down payment
    $76,140
    Cash to close
    $87,561
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,348a month

    Down payment
    $57,105
    Cash to close
    $68,526
    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 Wharton and for Morris County.

Property tax

Effective rate in Wharton

2.44%of the home’s value each year

$9,296 a year for the typical owner in Wharton.

  • Wharton 2.44%
  • 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 Wharton

Typical rent in Wharton is $1,720 a month: 10% below the county. In Wharton, 55% 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 Wharton

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Wharton is in ZIP code 07885.

For 2 bedrooms it is $2,550: $317 more than the fair market rent for Morris County ($2,233).

  • 07885 $2,550$3,180

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

HUD lists one building with rents for lower incomes in Wharton.

  • Centennial Courts (wharton Senior Housing) 100 N Main St, Wharton 101 low-income homes · In service since 1997

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

Free help

Help to buy or rent in Wharton

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.

A man leans over the armchair to help a teenage girl with her book.

HUD counseling is free or low-cost

Assistance programs in Wharton

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

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

Housing counselors near Wharton

The HUD-approved agencies closest to the center of Wharton, 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 · 1 miles away

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

  • Credit.org - New Jersey Branch

    101 Eisenhower Pkwy, Roseland · 14 miles away · Spanish

    Also serves in other languages.

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

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

    26 Park St Ste 2000, Montclair · 19 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 Wharton

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 Wharton

HUD’s record names them for Wharton 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 Wharton, 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 Wharton.

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

Questions

Housing questions about Wharton

Short answers with the numbers for Wharton 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 Wharton?

The typical home value in Wharton is $380,700, 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 Wharton?

Typical rent in Wharton is $1,720 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 Wharton?

Wharton 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 Wharton?

The typical homeowner in Wharton pays $9,296 a year, according to the U.S. Census Bureau. That is 2.44% of the home’s value; in Morris County, the rate is 1.72%.

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

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).