When looking at the Tenafly listings on Zillow, there are 17 single-family homes, 7 condos, and only 2 townhomes. Among the total of 26 listings, single-family homes account for nearly 65 percent, while townhomes make up less than 10 percent. According to housing inventory statistics compiled by Point2Homes, 76.1 percent of the 4,659 units are single-family homes, and even when combining duplexes and townhomes, they only account for 6.1 percent. The first item to check is this ratio.

To outline the differences among the three types, single-family homes have sole ownership of the land and the maintenance responsibility lies entirely with the owner, resulting in either no or low HOA fees. Townhomes are attached homes that share walls, with the HOA managing the exterior and common areas, while the interior is managed by the owner. Condos only own the unit within the building, with the management association handling most of the structure and exterior, resulting in relatively high monthly fees.

The second item to check is the price. According to Zillow, the typical home value in Tenafly is $896,668, which has increased by 10.4 percent over the past year. The median transaction price for all types, as compiled by Redfin, is $1,531,583, which is 222 percent higher than the national average as of May 2026. However, this figure should be considered with the market's overwhelming proportion of single-family homes, as it may differ from the median for condos or townhomes viewed separately.

The third aspect to consider is the supply structure. Tenafly is essentially a neighborhood focused on single-family homes, with condo and townhome inventory being quite limited. Most new housing is built by demolishing existing single-family home sites, so there is not much active development of new townhome projects.

Compared to neighboring Englewood or Cresskill, Tenafly's focus on single-family homes is pronounced. Englewood has a relatively higher supply of condos and townhomes, making it common for families with budget constraints to look there instead of Tenafly.

If considering purchasing a condo, it's also important to review the lending criteria. Some lenders may have strict requirements regarding reserves or owner-occupancy ratios for small condo complexes, which could make the down payment or loan terms less favorable compared to single-family homes.

The fourth point is the HOA fees. The average HOA fee in New Jersey is around $423 per month, and Bergen County condos can range from $200 to over $800 per month depending on the building's grade. Given Tenafly's high proportion of single-family homes, the availability of listings without HOA fees can be seen as an advantage.

The fifth point is the school district. Tenafly is consistently sought after by Korean families for its school district. However, school district boundaries can change frequently, so it's advisable to refer to GreatSchools or Niche ratings, but also to verify the assigned school for the specific address before purchasing.

When condo or townhome listings come up in Tenafly, they tend to sell quickly. This is due to the steady demand for these scarce listings. Families looking to downsize from larger single-family homes after their children have moved out often seek out these limited options first.

For families considering commuting to Manhattan, the accessibility of the George Washington Bridge should also be taken into account. Tenafly is relatively close to the bridge, making it a neighborhood with advantages in terms of commuting time.

The sixth point is something out-of-state movers might overlook. New Jersey has relatively high property tax rates, so if you only look at the sale price when budgeting, you may find a significant difference in actual monthly holding costs. It's necessary to calculate property taxes and insurance premiums along with the sale price in advance.

Finally, for investors looking for rental income or capital gains, in a market like Tenafly where single-family homes dominate, the scarcity of condos or townhomes can actually be a strength when reselling. However, it's also important to consider that it may be challenging to find listings at the time of purchase. This article does not constitute investment or legal advice, and it is recommended to consult with a professional before finalizing any contracts.