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.
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Home Value$1,299,787
+9.9%
Rent$3,052/mo
AFFORDABILITYRenting $6,312/mo cheaper ($3,052 rent)6.50% 30yr, 20% down, county tax + NJ ins. 28% per HUD.
Enter your income for Summit.
$259,957 on $1,299,787
Out of reach — 149.8% of income
Need $401,314/yr to afford.
PITI$9,364
P/I149.8%
Afford$243K
Gap-$1057K
P&I $6,572Tax $2,675Ins $117
Home Buying Kit For Dummies (2025)Financing, negotiation, closing
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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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