Boonton, NJ real estate: the numbers, explained.

Home values in Boonton

The NJ Division of Taxation’s 2026 Average Residential Statistics show an average residential sale price of $781,799 across 22 sales used in that report. That is a small sample, so treat it as a rough marker.

The Census Bureau’s survey puts the median value of owner-occupied homes, as estimated by owners, at $720,800 (2020–2024 average), compared with a Morris County town median of $592,600.

Boonton property taxes

Boonton’s 2025 general tax rate was 2.538 per $100 of assessed value, and its effective tax rate was 1.967%, about the same as the Morris County town median of 2.004% and lower than the statewide municipal median of 2.141%. That ranks it #18 lowest of 39 Morris County municipalities by effective rate. The average residential tax bill was $13,463 on an average assessment of $530,443 across 1,520 residential properties.

Applied to the average sale price of $781,799, the effective rate implies roughly $15,378 a year ($1,281 a month) in property tax. The Division publishes the effective rate for comparing towns, not for computing a specific bill, so use it as a ballpark.

What it costs to own vs. rent

For a $781,799 home with 20% down ($156,360) and a 30-year fixed loan at 7.18%, Freddie Mac’s national average for the week of November 5, 2026, principal and interest come to about $4,237 a month. With estimated property tax that’s about $5,518, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Boonton is $1,870.

Run my numbers for BoontonRent vs buy here

Who lives in Boonton

About 4,423 people live in Boonton. 95.1% of occupied homes are owner-occupied (county town median 81.9%), so the market is mostly owner-occupied single homes. 91.8% of housing units are single-family detached houses. The median resident age is 43.2, and 68.1% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $192,188, higher than the county town median of $154,923.

The median home in Boonton was built in 1969. Much of the housing predates 1978, so buyers should plan for older-home checks: lead-based paint disclosure, an oil-tank sweep if the house ever had oil heat, knob-and-tube or older electrical, galvanized plumbing, and a sewer-line scope. See the NJ inspection checklist.

Commuting from Boonton

Workers in Boonton average 25.8 minutes each way (those who don’t work from home), shorter than the Morris County town median of 29.6 minutes. 2.1% commute by public transportation, so most commuters drive and 24.5% work from home.

Schools

I don’t republish unofficial school scores. For Boonton, start with the New Jersey Department of Education’s School Performance Reports, then confirm the exact school assignment for any address with the district, since some NJ towns send students to regional or neighboring high schools. See how to research NJ schools.

Downtown, food and things to do

The best way to judge Boonton’s restaurants, parks and weekend life is in person. Visit on a weeknight and a Saturday morning, check the town recreation calendar and walk the blocks you’d live on. My town scouting checklist shows what to look for.

My take for buyers, sellers and renters

• Buyers: a below-county-median effective tax rate stretches your budget further here than in many Morris towns. Compare with the town comparison tool.
• Sellers: with fewer public market indexes for Boonton, a comparable-sales analysis matters more. Get a free home value.
• Low turnover: about 22 residential sales were in the state’s 2026 report, so good listings can be scarce. Set alerts and be ready to act.

Nearby towns at a similar price