Total monthly cost of ownership
Cost to Own a Home in Atlantic City, New Jersey
A $190,000 home here costs
$1,940per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $83,000 a year.
A standard mortgage calculator would have told you $1,036. The real number is $904 higher every month, 87% more than the payment most buyers budget for.
Compare Atlantic County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Atlantic City against Atlantic County and New Jersey
| Measure | Atlantic City | Atlantic County |
|---|---|---|
| Median home value | $189,600 | $272,700 |
| Median property tax | $5,613 | $6,749 |
| Effective tax rate | 2.960% | 2.475% |
| Median gross rent | $1,084 | $1,325 |
| Population | 38,486 | 274,704 |
The weather behind that power bill
Atlantic City sits in Atlantic County, which averages a high of 86.6°F in its hottest month and a low of 25.1°F in its coldest, with 45.96" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,136 cooling and 4,701 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Atlantic County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Atlantic County
Full Atlantic County cost breakdown · Every county in New Jersey
Talk to someone who works this market
These are Atlantic City averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Atlantic City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Atlantic City I already own here and may sell
Common questions
How much does it cost to own a home in Atlantic City?
A $190,000 home in Atlantic City, New Jersey costs approximately $1,940 per month with 20% down at 7.24%. That is $1,036 principal and interest, $469 property tax, $47 homeowners insurance, $231 utilities and $158 set aside for maintenance.
What is the property tax rate in Atlantic City?
Atlantic City has an effective property tax rate of 2.960%, based on a median home value of $189,600 and median real estate taxes of $5,613. That is higher than the Atlantic County average of 2.475%.
What is the average home price in Atlantic City?
The median owner-occupied home value in Atlantic City, New Jersey is $189,600, against $272,700 across Atlantic County.
Is it cheaper to rent or buy in Atlantic City?
Median gross rent in Atlantic City is $1,084 a month, against $1,940 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Atlantic City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Atlantic City, New Jersey at today's rate takes a household income of roughly $83,000 a year. That covers the full $1,940 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Atlantic City, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for New Jersey.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.