Buying a home in New Jersey
Property taxes, transfer taxes, home values and first-time buyer help in New Jersey.
For home buyers in New Jersey: the taxes and typical costs of buying, with official sources.
At New Jersey's effective rate of 2.11%, a typical $575,123 home would owe about $12,135/year ($1,011/month) in property taxes. Actual bills depend on your county, city and exemptions. Run your numbers.
New Jersey Housing and Mortgage Finance Agency
Your state housing finance agency offers down payment assistance and low-rate mortgages for eligible buyers. Visit New Jersey Housing and Mortgage Finance Agency →
Next steps
Sources: U.S. Census Bureau ACS 2020–2024 5-year (B25103, B25077); Zillow Home Value Index; TallyClose closing-cost dataset (CC BY 4.0), which cites each state statute; NCSHA HFA directory. Last updated 2026-11-01.
Common questions
What is the property tax rate in New Jersey?
The effective property tax rate in New Jersey is 2.11%: the median tax of $9,590 divided by the median home value of $454,400 (U.S. Census Bureau ACS 2020–2024).
What is a typical home value in New Jersey?
$575,123 in September 2026, according to the Zillow Home Value Index.
Who offers first-time homebuyer help in New Jersey?
New Jersey Housing and Mortgage Finance Agency, the state housing finance agency, offers down payment assistance and lower-rate loans for eligible buyers.
Updated . Official sources: U.S. Census Bureau ACS, Zillow Research ZHVI.
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