Estimate your monthly payment in New Jersey. Uses 2026 average home prices ($480,000), 2.47% property tax, and programs for Newark, Jersey City, and Trenton.
The average home price in New Jersey is approximately $480,000 in 2026. With a standard 20% down payment of $96,000, your estimated monthly principal and interest on a 30-year loan at 6.8% would be around $2,503. Adding New Jersey's 2.47% property tax and homeowner's insurance brings your total estimated monthly PITI to roughly $3,691.
Key markets include Newark, Jersey City, and Trenton, each with varying price points. A 15-year loan at 6.3% would run approximately $3,303/month in P&I — higher payments but roughly half the lifetime interest cost. Adjust the sliders above to see how rate and term changes affect your payment instantly.
New Jersey offers the NJHMFA First Home Club for qualifying buyers. These programs typically provide down payment assistance, below-market interest rates, or both. Contact your state housing finance agency to check current income and purchase-price limits.
2026 Rate Tip: 30-year fixed rates average 6.5–7.5% in 2026. Even 0.25% lower saves roughly $28,800 over the loan's life. Get quotes from at least 3–5 lenders.
The average home price in New Jersey is approximately $480,000 in 2026. Newark and Jersey City tend to have higher prices than rural areas of the state.
New Jersey's effective property tax rate is approximately 2.47%, which equals about $11,856/year or $988/month on a $480,000 home.
NJHMFA First Home Club is available to qualifying buyers in New Jersey and offers down payment assistance and/or below-market rates. Contact your state housing finance agency for details.