Home and mortgage

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.

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Home priceDown paymentInterest rateStarts at this week's national averageLoan termProperty taxA year, as a share of the price; about 1% is typical, varying widely by countyHome insurance a yearMortgage insurance (PMI)A year, on the loan, only below 20% downHOA dues a month

Monthly payment$3,425.39The answer

Monthly payment

$3,425.39

A $454,000 home with 20% down ($363,200 borrowed) at 7.18% over 30 years costs about $3,425 a month: $2,460 principal and interest plus $965 of tax, insurance and dues.

Principal and interest: $2,460.44
Tax, insurance, PMI and HOA: $964.95
Total interest over the loan: $522,560

Amortization by year: $363,200 at 7.18%

Year	Interest	Principal	Balance
1	$25,962.01	$3,563.31	$359,636.69
2	$25,697.58	$3,827.74	$355,808.95
3	$25,413.52	$4,111.80	$351,697.15
4	$25,108.38	$4,416.94	$347,280.21
5	$24,780.60	$4,744.72	$342,535.49
6	$24,428.49	$5,096.83	$337,438.66
7	$24,050.25	$5,475.07	$331,963.58
8	$23,643.94	$5,881.38	$326,082.20
9	$23,207.48	$6,317.84	$319,764.36
10	$22,738.63	$6,786.69	$312,977.67
11	$22,234.98	$7,290.33	$305,687.34
12	$21,693.96	$7,831.35	$297,855.98
13	$21,112.80	$8,412.52	$289,443.46
14	$20,488.50	$9,036.82	$280,406.64
15	$19,817.87	$9,707.45	$270,699.19
16	$19,097.47	$10,427.85	$260,271.34
17	$18,323.62	$11,201.70	$249,069.64
18	$17,492.33	$12,032.99	$237,036.65
19	$16,599.36	$12,925.96	$224,110.69
20	$15,640.11	$13,885.21	$210,225.48
21	$14,609.68	$14,915.63	$195,309.85
22	$13,502.79	$16,022.53	$179,287.32
23	$12,313.75	$17,211.57	$162,075.74
24	$11,036.46	$18,488.86	$143,586.89
25	$9,664.40	$19,860.92	$123,725.96
26	$8,190.50	$21,334.81	$102,391.15
27	$6,607.24	$22,918.08	$79,473.06
28	$4,906.47	$24,618.85	$54,854.22
29	$3,079.49	$26,445.83	$28,408.39
30	$1,116.93	$28,408.39	$0.00

Download the schedule (CSV)

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 price	Principal and interest	Property tax	Total
$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.

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.

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Sources

Updated Sep 30, 2026 by the RateHerald team. The maths is tested against worked examples; report a problem.