New Jersey Mortgage Rates & Home Prices (2026)
Median price: $485,000 · Avg. rate: 6.82%
New Jersey Market Overview
$485,000
Median Home Price
6.82%
Avg. 30-Yr Rate
2.47%
Property Tax Rate
64.2%
Homeownership Rate
New Jersey has the highest property taxes in the nation, significantly impacting total housing costs. NYC and Philadelphia metro proximity drives prices. NJHMFA offers up to $15,000 in forgivable DPA and competitive fixed rates.
Estimated Monthly Payment
Median home in New Jersey (20% down, 30-yr fixed)
$3,735/mo
Principal & Interest$2,535
Property Taxes$998
Home Insurance (est.)$202
Total Monthly (PITI)$3,735
Based on a $485,000 home with 20% down ($388,000 loan) at 6.82%. Does not include PMI, HOA, or other fees.
First-Time Buyer Programs in New Jersey
- NJHMFA First-Time Homebuyer Program
- Down Payment Assistance Program
- Police and Firemen's Mortgage Program
Contact your state's Housing Finance Agency for current program availability and requirements.
Rate Comparison: NJ Rates
30-Year Fixed6.82%
15-Year Fixed6.04%
5/1 ARM (est.)6.07%
FHA 30-Year6.67%
VA 30-Year6.57%
Rates are estimates based on state averages and may vary by lender and borrower qualifications.
Frequently Asked Questions
Key Stats: NJ
FHA Loan Limit$726,200
Median Income$89,703
Cost Index1.28x