Total monthly cost of ownership
Cost to Own a Home in Gloucester City, New Jersey
A $180,000 home here costs
$1,910per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $925. The real number is $985 higher every month — 106% 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.
Gloucester City against Camden County and New Jersey
| Measure | Gloucester City | Camden County |
|---|---|---|
| Median home value | $180,100 | $262,200 |
| Median property tax | $6,166 | $8,063 |
| Effective tax rate | 3.424% | 3.075% |
| Median gross rent | $1,489 | $1,346 |
| Population | 11,465 | 524,042 |
The weather behind that power bill
Gloucester City sits in Camden County, which averages a high of 87.0°F in its hottest month and a low of 24.6°F in its coldest, with 42.79" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 1,074 cooling and 4,880 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Camden County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Camden County
Full Camden County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Gloucester City?
A $180,000 home in Gloucester City, New Jersey costs approximately $1,910 per month with 20% down at 6.66%. That is $925 principal and interest, $514 property tax, $44 homeowners insurance, $277 utilities and $150 set aside for maintenance.
What is the property tax rate in Gloucester City?
Gloucester City has an effective property tax rate of 3.424%, based on a median home value of $180,100 and median real estate taxes of $6,166. That is higher than the Camden County average of 3.075%.
What is the average home price in Gloucester City?
The median owner-occupied home value in Gloucester City, New Jersey is $180,100, against $262,200 across Camden County.
Is it cheaper to rent or buy in Gloucester City?
Median gross rent in Gloucester City is $1,489 a month, against $1,910 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 Gloucester 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.