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New Jersey Mortgage Calculator

Your monthly mortgage payment in New Jersey, with New Jersey's effective property tax rate (2.11%) built in, at this week's average rate. The calculator starts at the state's median home value, $454,400.

A $454,000 home with 20% down ($363,200 borrowed) at 7.28% over 30 years costs about $3,450 a month: $2,485 principal and interest plus $965 of tax, insurance and dues.

Monthly payment
$3,450.01
Principal and interest
$2,485.06
Tax, insurance, PMI and HOA
$964.95
Total interest over the loan
$531,421
Loan balance and interest paid over 30 years at 7.28%$0$200k$400k$600k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $363,200 at 7.28%
YearInterestPrincipalBalance
1$26,325.88$3,494.83$359,705.17
2$26,062.79$3,757.92$355,947.25
3$25,779.90$4,040.81$351,906.44
4$25,475.71$4,345.00$347,561.44
5$25,148.62$4,672.08$342,889.36
6$24,796.91$5,023.79$337,865.57
7$24,418.73$5,401.98$332,463.59
8$24,012.07$5,808.63$326,654.95
9$23,574.81$6,245.90$320,409.05
10$23,104.62$6,716.09$313,692.97
11$22,599.04$7,221.67$306,471.30
12$22,055.40$7,765.30$298,705.99
13$21,470.84$8,349.87$290,356.13
14$20,842.27$8,978.44$281,377.69
15$20,166.38$9,654.32$271,723.37
16$19,439.62$10,381.09$261,342.28
17$18,658.14$11,162.57$250,179.71
18$17,817.83$12,002.87$238,176.83
19$16,914.27$12,906.44$225,270.40
20$15,942.69$13,878.02$211,392.38
21$14,897.97$14,922.74$196,469.64
22$13,774.60$16,046.11$180,423.53
23$12,566.67$17,254.04$163,169.49
24$11,267.80$18,552.91$144,616.58
25$9,871.16$19,949.55$124,667.04
26$8,369.38$21,451.33$103,215.71
27$6,754.55$23,066.16$80,149.55
28$5,018.15$24,802.56$55,346.99
29$3,151.04$26,669.66$28,677.33
30$1,143.38$28,677.33$0.00

This week's mortgage rates →

Monthly payment in New Jersey by home price (20% down, 7%, 30 years, 2.11% tax, $2,000 insurance)

Home pricePrincipal and interestProperty taxTotal
$230,000$1,224$404$1,795
$340,000$1,810$598$2,574
$450,000$2,395$791$3,353
$680,000$3,619$1,196$4,982
$910,000$4,843$1,600$6,610

How this calculator works

As the mortgage calculator, with New Jersey's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $9,590 ÷ median value $454,400.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

Questions people ask

What is the mortgage payment on a median home in New Jersey?

On $454,400 with 20% down at 7% over 30 years: about $2,419 principal and interest and $799 of property tax, $3,384 a month with $2,000 a year of insurance.

What is the median home value in New Jersey?

$454,400 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in New Jersey?

The effective rate is 2.11%, a median $9,590 a year. See New Jersey's property tax page for every county we cover.

How much income do I need for a median New Jersey home?

Under the 28% guideline, about $145,035 a year for the payment above; New Jersey's median household income is $103,556.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • New Jersey Property Tax CalculatorNew Jersey homeowners pay a median $9,590 a year in property tax, 2.11% of a median $454,400 home: the 1st highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.