The median home in Summit, New Jersey is valued at $1,299,787, up 9.9% year over year. Typical monthly rent is $3,052, producing a price-to-rent ratio of 35.5x — well above the national average of 18x. Summit is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

Home Value$1,299,787

+9.9%

Rent$3,052/mo

Prices rising — worse for buyers.

Affordability

Enter your income for Summit.

Income (annual)

Down Payment

$259,957 on $1,299,787

Example: $75,000 household income. Change it above to see your own.

Out of reach149.8% of income

Need $401,314/yr to afford.

PITI$9,364

P/I149.8%

Afford$243K

Gap-$1.06M

P&I $6,572Tax $2,675Ins $117

Renting $6,312/mo cheaper ($3,052 rent)6.50% 30yr, 20% down, county tax + NJ ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in New Jersey

Compare Summit with other housing markets across New Jersey.

Deal$4.21M Alpine$2.96M Loch Arbour$2.88M Avalon$2.63M Stone Harbor$2.48M Bay Head$2.36M Sea Girt$2.3M Short Hills$2.26M

Full New York-Newark-Jersey City, NY-NJ-PA analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the New York-Newark-Jersey City, NY-NJ-PA metro.

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Summit, NJ