Total monthly cost of ownership
Cost to Own a Home in Hawthorne, New Jersey
A $499,000 home here costs
$4,370per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $187,500 a year.
A standard mortgage calculator would have told you $2,764. The real number is $1,606 higher every month, 58% more than the payment most buyers budget for.
Compare Passaic 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.
Hawthorne against Passaic County and New Jersey
| Measure | Hawthorne | Passaic County |
|---|---|---|
| Median home value | $499,200 | $439,400 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 2.003% | 2.276% |
| Median gross rent | $1,828 | $1,553 |
| Population | 19,472 | 518,289 |
The weather behind that power bill
Hawthorne sits in Passaic County, which averages a high of 84.3°F in its hottest month and a low of 19.9°F in its coldest, with 48.2" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 837 cooling and 5,635 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Passaic County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Passaic County
Full Passaic County cost breakdown · Every county in New Jersey
Talk to someone who works this market
These are Hawthorne 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 Hawthorne every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hawthorne I already own here and may sell
Common questions
How much does it cost to own a home in Hawthorne?
A $499,000 home in Hawthorne, New Jersey costs approximately $4,370 per month with 20% down at 7.4%. That is $2,764 principal and interest, $833 property tax, $122 homeowners insurance, $235 utilities and $416 set aside for maintenance.
What is the property tax rate in Hawthorne?
Hawthorne has an effective property tax rate of 2.003%, based on a median home value of $499,200 and median real estate taxes of $10,001. That is lower than the Passaic County average of 2.276%.
What is the average home price in Hawthorne?
The median owner-occupied home value in Hawthorne, New Jersey is $499,200, against $439,400 across Passaic County.
Is it cheaper to rent or buy in Hawthorne?
Median gross rent in Hawthorne is $1,828 a month, against $4,370 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 Hawthorne?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hawthorne, New Jersey at today's rate takes a household income of roughly $187,500 a year. That covers the full $4,370 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hawthorne, 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.