Mortgage Rates in Ridgewood, New Jersey — March 2026
Updated March 2026 | Based on Ridgewood market data and regional lending conditions
Ridgewood is a growing city in New Jersey with a population of 25,355. The current 30-year fixed mortgage rate in Ridgewood is 6.78%, which is 0.13% above the national average. With a median home price of $423,000 and a 20% down payment of $84,600, homebuyers can expect a monthly principal and interest payment of approximately $2,202.
Current Mortgage Rates in Ridgewood, NJ
Below are the current average mortgage rates available in the Ridgewood area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.78% | 6.65% | +0.13% |
| 15-Year Fixed | 6.01% | 5.89% | +0.12% |
| 5/1 ARM | 6.27% | 6.15% | +0.12% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.03% | 6.85% | +0.18% |
Ridgewood Housing Market Overview
The Ridgewood housing market reflects moderate demand with prices near the national average. The median household income in Ridgewood is $81,200, and the cost of living index is 110 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $127,457 to comfortably afford the median-priced home in Ridgewood, which exceeds the current median household income.
Monthly Payment Breakdown for Ridgewood
Based on the median home price of $423,000 with 20% down ($84,600), here is what you can expect to pay monthly in Ridgewood:
15-Year vs. 30-Year Mortgage in Ridgewood
Choosing a 15-year mortgage in Ridgewood at 6.01% instead of a 30-year at 6.78% would save you $278,460 in total interest over the life of the loan. However, your monthly payment would be $2,857 instead of $2,202 — an increase of $655 per month.
Calculate Your Ridgewood Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Ridgewood
What are the current mortgage rates in Ridgewood, NJ?
As of March 2026, the average 30-year fixed mortgage rate in Ridgewood, New Jersey is 6.78%, while the 15-year fixed rate is 6.01%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.13% above the national average of 6.65%.
How much is a monthly mortgage payment in Ridgewood?
Based on the median home price of $423,000 with 20% down, the estimated monthly mortgage payment in Ridgewood is $2,202 for principal and interest. Including property taxes of $772/month, the total monthly housing cost is approximately $2,974.
What income do I need to buy a home in Ridgewood?
Using the 28% rule, you would need an annual income of approximately $127,457 to afford the median-priced home in Ridgewood at $423,000. The median household income in Ridgewood is $81,200. This means most households would need to either earn above the median or consider homes below $423,000.
Is Ridgewood a good place to buy a home in 2026?
Ridgewood has a moderate cost of living with a cost of living index of 110 (national average = 100). The property tax rate in New Jersey is 2.19%, which is above the national average. Ridgewood has a population of 25,355 and offers a balanced lifestyle.
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Ridgewood, New Jersey area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.