You are looking at a particular price range in comparing these towns, and in terms of Paramus and Emerson, this is defintely the lower part of the range of homes in those towns. The price spread in Paramus is much higher, due to a larger percentage of bigger homes on larger pieces of property PLUS the lower taxes in that town because of all the commercial development on Rt. 4 and Rt. 17.
If you took the same larger split level in Fair Lawn and put it down in Paramus, it would be asking $100,000 more just because of the somewhat lower taxes and larger property size. I did a count of homes between $500K-$750K in both towns, and found that while Fair Lawn has 24 available, Paramus has 33 with more above $750K as well.
You also have to look at the percentage of homes on the market versus the number of residential properties in the entire town to make an accurate judgement. Fair Lawn has a very large number of smaller capes and colonials and some split levels spread over a number of diverse neighborhoods on either side of Rt. 208 and Broadway/Rt. 4, and most of them are worth the price range you are looking at ($300K-$500K). Paramus has many more larger homes than these, it was developed differently. New Milford is a smaller community than Fair Lawn, with fewer residential properties overall. Emerson is also a more upscale community in general, with some middle-class neighborhoods, and it is much smaller in size than Fair Lawn.
Finally, what you really should concentrate on (with the help of an experienced realtor) are Days On The Market and what has sold over the past 13 months. I can help you with that, if you are looking for more data and are perhaps considering listing your home in the near future. I love showing and selling Fair Lawn, and have always liked what your community brings to the table in terms of good schools, great recreation programs, shopping areas, parks, proximity to NYC transport, and -- yes -- lower taxes than a number of surrounding towns in your neck of the woods. Feel positive and proud of your community! I do!
Coldwell Banker Residential RE/Oradell