Home prices
The value of the median home in Mendham is $662,300. This is roughly $42,760 (6%) higher compared to the surrounding areas.It is roughly $444,800 (204%) higher in comparison to the rest of the nation, and compared to the city of New York is approximately $56,300 (9%) higher.
Rents
In Mendham the median monthly rent is $1,581. In comparison to nearby areas this is roughly $161 (9%) lower.It is roughly $519 (48%) higher in comparison to the rest of the country, and it is approximately $138 (9%) higher compared to the city of New York.
Nearby places
Bernardsville
Bernardsville is Mendham's neighbor to the south. Housing prices there are pretty similar. The median home in Bernardsville costs $681,500, which works out to $19,200 (2%) higher than Mendham. Rents there are a bit more expensive. The median rent in Bernardsville is $1,787 per month, which is $206 (11%) higher than Mendham.
Peapack and Gladstone
Peapack and Gladstone is approximately 4 miles southwest from Mendham. The housing prices there are fairly similar. Peapack and Gladstone's median home value is $680,900, which is $18,600 (2%) higher than Mendham. The rent there is pretty similar. In Peapack and Gladstone the median rent is $1,526 a month, which is $55 (3%) lower than Mendham.
Chester
Chester is approximately 4 miles west of Mendham. The housing prices there are substantially less expensive. The median home in Chester is valued at $474,200, which works out to $188,100 (39%) lower than Mendham. Rents there are a bit less expensive. Chester's median rent is $1,500 a month, which works out to $81 (5%) lower than Mendham.
Far Hills
Far Hills is roughly 5 miles south of Mendham. Real estate prices there are a bit more expensive. The median home value in Far Hills is $789,100, which comes out to $126,800 (16%) higher than Mendham. Rents there are a bit more expensive. The median monthly rent in Far Hills is $2,167, which works out to $586 (27%) higher than Mendham.
Morristown
Morristown is approximately 5 miles east from Mendham. Its housing prices are a lot less expensive. Morristown's median home price is $472,000, which comes out to $190,300 (40%) lower than Mendham. Rent there is a bit more expensive. Morristown's median monthly rent is $1,729, which comes out to $148 (8%) higher than Mendham.
