Total monthly cost of ownership
Cost to Own a Home in Lake Telemark, New Jersey
A $424,000 home here costs
$3,698per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,180. The real number is $1,518 higher every month — 70% 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.
Lake Telemark against Morris County and New Jersey
| Measure | Lake Telemark | Morris County |
|---|---|---|
| Median home value | $424,200 | $557,000 |
| Median property tax | $9,408 | $10,001 |
| Effective tax rate | 2.218% | 1.796% |
| Median gross rent | — | $1,860 |
| Population | 1,519 | 510,375 |
The weather behind that power bill
Lake Telemark sits in Morris County, which averages a high of 85.2°F in its hottest month and a low of 22.9°F in its coldest, with 44.88" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 973 cooling and 5,272 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Morris County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Morris County
Full Morris County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Lake Telemark?
A $424,000 home in Lake Telemark, New Jersey costs approximately $3,698 per month with 20% down at 6.66%. That is $2,180 principal and interest, $784 property tax, $104 homeowners insurance, $277 utilities and $353 set aside for maintenance.
What is the property tax rate in Lake Telemark?
Lake Telemark has an effective property tax rate of 2.218%, based on a median home value of $424,200 and median real estate taxes of $9,408. That is higher than the Morris County average of 1.796%.
What is the average home price in Lake Telemark?
The median owner-occupied home value in Lake Telemark, New Jersey is $424,200, against $557,000 across Morris County.
Is it cheaper to rent or buy in Lake Telemark?
Rent data is not published for Lake Telemark at this level of detail.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lake Telemark — 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.