New Jersey Mortgage Calculator
Calculate your monthly payment in New Jersey, with property tax included using the state's effective rate of 2.11%. See your full amortization schedule and analyze your loan structure.
Pick a state to use its property tax rate. With a keyboard, use the arrow keys and press Enter.
Estimated Monthly Payment
Estimates only. Does not include homeowners insurance, mortgage insurance (PMI), or HOA fees. Property tax uses the state's average effective rate and your actual bill may differ.
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Property tax in New Jersey: the numbers
Compared with the 0.92% national average, New Jersey's effective property tax rate of 2.11% is well above the mark (129% higher). By rate, New Jersey has the highest rate of all 50 states.
The median home value in New Jersey is $454,400, and the median annual property tax bill is $9,590. Spread over twelve months, that is about $799 a month in property tax for a median-priced home.
| Effective property tax rate | 2.11% |
|---|---|
| Median home value | $454,400 |
| Median annual property tax | $9,590 |
| Rank by rate (1 = highest of 50) | 1 |
| Difference vs 0.92% national average | 1.19 points above (129% above) |
What this means for your monthly payment
Two worked examples for New Jersey, using the figures above:
Example 1: the median home
$9,590 per year ÷ 12 = about $799 per month in property tax (median home value: $454,400).
Example 2: a $300,000 home
$300,000 × 2.11% ÷ 12 = about $528 per month, or $6,330 per year.
At the 0.92% national average rate, a $300,000 home would have about $2,760 in property tax per year. In New Jersey it is about $6,330, which is $3,570 more per year (about $298 more per month).
Compare with similar states
States ranked just above and just below New Jersey by effective property tax rate (1 = highest). States with the same rate are ordered by median annual tax.
Ranked just above (higher rate)
No states.
Ranked just below (lower rate)
- Illinois — 2.01% (rank 2)
- Connecticut — 1.81% (rank 3)
- New Hampshire — 1.66% (rank 4)
- Vermont — 1.59% (rank 5)
- New York — 1.55% (rank 6)
New Jersey property tax FAQ
What is the property tax rate in New Jersey?
The effective property tax rate in New Jersey is 2.11%. That is 129% above the 0.92% national average, and the state has the highest rate of all 50 states.
How much is property tax on a $300,000 home in New Jersey?
At New Jersey's effective rate of 2.11%, property tax on a $300,000 home works out to about $6,330 per year, or about $528 per month. At the 0.92% national average, the same home would be about $2,760 per year, so New Jersey is about $3,570 more per year.
How much is property tax on the median home in New Jersey?
The median home value in New Jersey is $454,400, and the median annual property tax is $9,590, which is about $799 per month.
Does the property tax rate vary inside New Jersey?
Yes. Property taxes are set locally, so actual bills depend on your county, city, and exemptions. The 2.11% figure is a state-level estimate based on medians, not a rate that applies to every home.
Figures are estimates based on Census data and are not tax or financial advice. Actual bills depend on your local rates, assessed value and exemptions.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates, as compiled by PropertyShark and PropertyTaxByState.