Florham Park, NJ real estate: the numbers, explained.

Home values in Florham Park

Zillow Home Value Index (all homes, middle tier, smoothed, seasonally adjusted) for the Zillow region “Florham Park”, September 30 of each year. Source: Zillow Research.

Zillow’s Home Value Index for Florham Park was $1,049,188 as of September 30, 2026, up 10% from a year earlier and up 42.3% over five years. Over ten years the index rose 64.6%. ZHVI models a typical home value. It isn’t the price of any specific house.

The NJ Division of Taxation’s 2026 Average Residential Statistics show an average residential sale price of $942,672 across 96 sales used in that report. Averages can be pulled up or down by a few sales, which is one reason it can differ from Zillow’s index.

The Census Bureau’s survey puts the median value of owner-occupied homes, as estimated by owners, at $791,400 (2020–2024 average), compared with a Morris County town median of $592,600.

Florham Park property taxes

Florham Park’s 2025 general tax rate was 1.691 per $100 of assessed value, and its effective tax rate was 1.27%, lower than the Morris County town median of 2.004% and lower than the statewide municipal median of 2.141%. That ranks it #2 lowest of 39 Morris County municipalities by effective rate. The average residential tax bill was $11,473 on an average assessment of $678,457 across 3,606 residential properties.

Applied to the typical home value of $1,049,188, the effective rate implies roughly $13,325 a year ($1,110 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 $1,049,188 home with 20% down ($209,838) 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 $5,686 a month. With estimated property tax that’s about $6,796, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Florham Park is $3,109 and Zillow’s observed rent index (asking rents, Sept. 2026) is $3,724.

Run my numbers for Florham ParkRent vs buy here

Who lives in Florham Park

About 13,564 people live in Florham Park. 69.8% of occupied homes are owner-occupied (county town median 81.9%). 49% of housing units are single-family detached houses. The median resident age is 40.9, and 69.9% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $158,696, about the same as the county town median of $154,923.

The median home in Florham Park was built in 1984. Newer housing stock usually means fewer legacy issues like buried oil tanks or lead paint, but still inspect roofs, HVAC age and drainage, and check any HOA’s finances.

Commuting from Florham Park

Workers in Florham Park average 25.7 minutes each way (those who don’t work from home), shorter than the Morris County town median of 29.6 minutes. 5.5% commute by public transportation, so most commuters drive and 30.9% work from home.

Schools

I don’t republish unofficial school scores. For Florham Park, 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 Florham Park’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: values are up 42.3% in five years, so many owners have significant equity. See your number in the seller net sheet.

Nearby towns at a similar price