Mortgage on a $450K house in New Jersey
$3,328 a month with 20% down — $2,422 principal and interest plus $682 property tax and $225 insurance.
New Jersey's typical property tax is 1.82% of the home's value a year (U.S. average 0.9%), which adds $682 a month on a $450K home. The typical home in New Jersey is worth $575,123, so $450K is 22% below the typical price.
$450K home in New Jersey: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $90,000 | $360,000 | $2,422 | $0 | $907 | $3,328 | $142,600 |
| 10% down | $45,000 | $405,000 | $2,724 | $169 | $907 | $3,800 | $162,800 |
| 5% down | $22,500 | $427,500 | $2,876 | $178 | $907 | $3,961 | $169,700 |
| 3.5% down (FHA) | $15,750 | $441,849 | $2,972 | $199 | $907 | $4,078 | $174,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.82% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in New Jersey does $450K buy a typical home?
In these counties the typical home value is within 15% of $450K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Sussex County | $445,283 | 2.32% | $3,517 |
| Mercer County | $439,984 | 2.36% | $3,531 |
| Burlington County | $418,637 | 2.26% | $3,492 |
| Warren County | $417,688 | 2.34% | $3,525 |
| Atlantic County | $383,102 | 2.3% | $3,508 |
9 of 21 New Jersey counties tracked by Zillow have a typical home value at or below $450K. See all New Jersey home prices.
Other prices in New Jersey
Frequently asked questions
What is the mortgage on a $450K house in New Jersey?
About $3,328 a month with 20% down at 7.11%: $2,422 principal and interest, $682 property tax and $225 insurance.
How much do I need to make to buy a $450K house in New Jersey?
About $142,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $450K house in New Jersey?
At New Jersey's typical effective rate of 1.82%, about $8,179 a year. Rates vary by county and city — see the county pages.