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New Jersey Mortgage Calculator

Estimate your monthly mortgage payment in New Jersey, pre-loaded with the state's 2.23% average property tax rate and local insurance costs.

Median home price
$490,000
Avg property tax
2.23%
Avg insurance
$1,200/yr
$490,000
$98,000 (20%)

20%+ — no PMI

6.75%
Loan term
Taxes, insurance & fees
%
$
%
$

Estimated monthly payment

$3,553

on a $392,000 loan

Monthly$3,553
  • Principal & interest$2,543
  • Property tax$911
  • Home insurance$100
Loan amount
$392,000
Down payment
20%
Total interest
$523,302
Total of payments
$915,302

Buying a home in New Jersey

Housing costs in New Jersey are shaped by local property taxes, insurance, and home prices. With an average effective property tax rate of 2.23% and a median home price around $490,000, a typical buyer putting 20% down would finance roughly $392,000. Use the calculator above to model your own price, down payment, and rate — it already reflects New Jersey's tax and insurance averages so your estimate is closer to reality.

Remember that these figures are statewide averages. Your county and city can have meaningfully different tax rates, and insurance premiums depend on your specific home. For the most accurate estimate, enter a quote from a licensed New Jersey lender and your actual insurance and tax figures.

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New Jersey mortgage FAQs

What is the average property tax rate in New Jersey?

New Jersey has an average effective property tax rate of about 2.23% of a home's value per year. On the state's indicative median home price of $490,000, that works out to roughly $10,927 per year, usually collected monthly through escrow.

How much is a mortgage payment in New Jersey?

Your payment depends on the home price, down payment, interest rate, and term. We've pre-filled this calculator with New Jersey's median home price of $490,000 and local tax and insurance estimates — adjust the sliders to match your situation.

Does this calculator include New Jersey homeowners insurance?

Yes. We've defaulted to an indicative New Jersey average of about $1,200 per year. Insurance varies by location, home age, and coverage, so enter a real quote for the most accurate estimate.