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Paramus

Learn about the people, housing, costs and businesses in Paramus, New Jersey

Median Home$811,050
Median Rent$2,834/month
Population26,568
Leading IndustriesPublic Administration · Arts, Food & Hospitality · Healthcare30% public administration
Home Value Growth⬆⬆+14.2% over 2 years
Retirees26% of residentsabove average nationally
Homeowners83% of occupied units
NotableAmenity Score89/100 · highly walkable area
NotableHigh Incomes$137k/year · top 5% nationally
Paramus
NJ

Frequently Asked Questions

What are today's mortgage rates in Paramus?

As of today, the 30-year fixed mortgage rate for Paramus is approximately 6.790% (6.822% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Paramus?

The median home value in Paramus is $811k. The median monthly rent is $2,834. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Paramus?

Home values in Paramus have increased 14.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Paramus?

Based on a typical all-in ownership cost of $2,760/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $118k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Paramus is $137k/year.

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What industries drive the economy in Paramus?

The largest employment sectors in Paramus are public administration (30%) and healthcare (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.