New Jersey mortgage calculator

New Jersey
Mortgage
Calculator

New Jersey has the highest property tax rate in the nation at 2.47%, combined with high home prices driven by proximity to New York City. Monthly housing costs here are consistently among the highest in the US.

NewarkJersey CityPatersonElizabethEdison
2.47% avg property tax
Real local rates
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$
$
Interest rate6.48%
Monthly payment
$3,911
P&I · Taxes · Insurance
Total interest
$528,616
Principal & Interest$2,624/mo
Property Tax$1,070/mo
Homeowners Insurance$217/mo

Recommended for incomes above $170k/yr (28% DTI rule)

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2.47%
New Jersey avg property tax rate
$520,000
New Jersey median home price
$3,911
est. monthly payment at defaults

New Jersey property taxes

NJ property taxes are set by each municipality. Bergen, Essex, and Morris counties often see annual tax bills exceeding $12,000 on average-priced homes.

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