Total monthly cost of ownership
Cost to Own a Home in Freehold, New Jersey
A $402,000 home here costs
$3,487per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,067. The real number is $1,421 higher every month — 69% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Freehold against Monmouth County and New Jersey
| Measure | Freehold | Monmouth County |
|---|---|---|
| Median home value | $401,900 | $566,500 |
| Median property tax | $8,515 | $10,001 |
| Effective tax rate | 2.119% | 1.765% |
| Median gross rent | $1,818 | $1,771 |
| Population | 12,504 | 643,615 |
The weather behind that power bill
Freehold sits in Monmouth County, which averages a high of 86.5°F in its hottest month and a low of 22.9°F in its coldest, with 48.57" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 1,017 cooling and 4,988 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Monmouth County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Monmouth County
Full Monmouth County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Freehold?
A $402,000 home in Freehold, New Jersey costs approximately $3,487 per month with 20% down at 6.66%. That is $2,067 principal and interest, $710 property tax, $98 homeowners insurance, $277 utilities and $335 set aside for maintenance.
What is the property tax rate in Freehold?
Freehold has an effective property tax rate of 2.119%, based on a median home value of $401,900 and median real estate taxes of $8,515. That is higher than the Monmouth County average of 1.765%.
What is the average home price in Freehold?
The median owner-occupied home value in Freehold, New Jersey is $401,900, against $566,500 across Monmouth County.
Is it cheaper to rent or buy in Freehold?
Median gross rent in Freehold is $1,818 a month, against $3,487 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Freehold — 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.