New Jersey home prices and mortgage costs
Typical home value $575,123 · +4.0% in a year · property tax 1.82%
New Jersey ranks 5th most expensive of 51 states and D.C. Home values changed +4.0% over the past year and +35.2% over five years. Buying the typical home with 20% down costs about $4,254 a month at 7.11%, which needs a household income of about $182,300.
Cost of the typical New Jersey home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $115,025 | $460,098 | $3,095 | $0 | $1,159 | $4,254 | $182,300 |
| 10% down | $57,512 | $517,611 | $3,482 | $216 | $1,159 | $4,856 | $208,100 |
| 5% down | $28,756 | $546,367 | $3,675 | $228 | $1,159 | $5,062 | $216,900 |
| 3.5% down (FHA) | $20,129 | $564,706 | $3,799 | $254 | $1,159 | $5,212 | $223,400 |
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.
Check a specific budget: how much house you can afford in New Jersey by salary · payment on a $600K home in New Jersey
Home prices by county in New Jersey
| County | Typical home | 1-yr change | Tax rate | Payment / month | Income needed |
|---|---|---|---|---|---|
| Cape May County | $813,005 | +9.6% | 1.22% | $5,609 | $240,400 |
| Monmouth County | $786,951 | +7.2% | 1.65% | $5,711 | $244,700 |
| Bergen County | $780,357 | +7.1% | 1.61% | $5,634 | $241,400 |
| Morris County | $701,797 | +3.9% | 1.72% | $5,132 | $219,900 |
| Essex County | $658,593 | +3.8% | 1.91% | $4,921 | $210,900 |
| Somerset County | $656,346 | +2.7% | 1.81% | $4,851 | $207,900 |
| Hudson County | $636,059 | +1.5% | 1.77% | $4,679 | $200,500 |
| Union County | $627,890 | +2.3% | 1.89% | $4,682 | $200,700 |
| Hunterdon County | $627,345 | +3.0% | 1.93% | $4,701 | $201,500 |
| Passaic County | $597,668 | +4.5% | 2.18% | $4,599 | $197,100 |
| Middlesex County | $579,852 | +3.1% | 2.1% | $4,424 | $189,600 |
| Ocean County | $551,299 | +4.8% | 1.65% | $3,999 | $171,400 |
| Sussex County | $445,283 | +2.7% | 2.32% | $3,480 | $149,100 |
| Mercer County | $439,984 | +0.2% | 2.36% | $3,453 | $148,000 |
| Burlington County | $418,637 | +2.2% | 2.26% | $3,249 | $139,200 |
| Warren County | $417,688 | +1.7% | 2.34% | $3,272 | $140,200 |
| Atlantic County | $383,102 | +4.0% | 2.3% | $2,987 | $128,000 |
| Gloucester County | $381,762 | +4.0% | 2.6% | $3,071 | $131,600 |
| Camden County | $353,585 | +4.2% | 2.83% | $2,914 | $124,900 |
| Salem County | $297,450 | +3.1% | 2.93% | $2,476 | $106,100 |
| Cumberland County | $273,036 | +0.9% | 2.28% | $2,125 | $91,100 |
Metro areas in New Jersey
Frequently asked questions
What is the average home price in New Jersey?
The typical home in New Jersey is worth $575,123 according to the Zillow Home Value Index for September 2026.
How much income do you need to buy a house in New Jersey?
About $182,300 a year to buy the typical $575,123 home with 20% down at 7.11%, keeping housing under 28% of income.
What is the property tax rate in New Jersey?
The typical effective rate is 1.82% of the home's value a year (median taxes paid divided by median home value, Census ACS 2025).