Fanwood vs Summit, NJ
Property taxes, schools, NJ Transit pass and monthly cost for Fanwood and Summit, side by side with sources.
At a glance
Fanwood has the lower 2025 average residential tax bill: $14,759 a year, $4,942 less than $19,701 in Summit. Both are above the NJ average of $10,340.
The median single-family sale price is $817,500 in Fanwood and $1,750,000 in Summit, $932,500 more (GSMLS, 2025 closed sales).
On the site's monthly cost estimate (mortgage, property tax and NJ Transit pass, each on the town's median single-family sale price), Fanwood comes to $6,351 a month and Summit to $12,054, a gap of $5,703.
Peak commute is 55 minutes in Fanwood and 42 in Summit, 13 minutes shorter in Summit; the NJ Transit monthly pass to NY Penn costs $362 in both.
Figures are from the data file, version 2.3.0. Estimates are labeled. Add a third town in the compare tool.
Monthly cost
Estimated monthly cost Estimate
- Mortgage (principal and interest)
- Property tax
- NJ Transit pass
- Fanwood$6,351 / monthMortgage $4,457 · Property tax $1,532 · NJ Transit pass $362 · on a $817,500 median single-family home
- Summit$12,054 / monthMortgage $9,541 · Property tax $2,151 · NJ Transit pass $362 · on a $1,750,000 median single-family home
Each town uses its own median single-family sale price (GSMLS, 2025 closed sales) and 2025 effective tax rate. Mortgage is the monthly mortgage in the data: Principal & interest only; excludes taxes and insurance. Calculated at a 7.24% 30-year fixed rate, 20% down, 30-year term. Excludes insurance, utilities, maintenance and HOA fees. Change the numbers in the calculator.
Home prices
Median sale price, condo / townhouse
Source: GSMLS, 2025 closed sales
Property taxes
Schools
Full pages: Fanwood · Summit. Find a local expert if you want help weighing these two towns.