Total monthly cost of ownership
Cost to Own a Home in Merchantville, New Jersey
A $316,000 home here costs
$3,042per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,625. The real number is $1,418 higher every month — 87% 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.
Merchantville against Camden County and New Jersey
| Measure | Merchantville | Camden County |
|---|---|---|
| Median home value | $316,300 | $262,200 |
| Median property tax | $9,606 | $8,063 |
| Effective tax rate | 3.037% | 3.075% |
| Median gross rent | $1,097 | $1,346 |
| Population | 3,815 | 524,042 |
The weather behind that power bill
Merchantville 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 Merchantville?
A $316,000 home in Merchantville, New Jersey costs approximately $3,042 per month with 20% down at 6.66%. That is $1,625 principal and interest, $800 property tax, $77 homeowners insurance, $277 utilities and $263 set aside for maintenance.
What is the property tax rate in Merchantville?
Merchantville has an effective property tax rate of 3.037%, based on a median home value of $316,300 and median real estate taxes of $9,606. That is lower than the Camden County average of 3.075%.
What is the average home price in Merchantville?
The median owner-occupied home value in Merchantville, New Jersey is $316,300, against $262,200 across Camden County.
Is it cheaper to rent or buy in Merchantville?
Median gross rent in Merchantville is $1,097 a month, against $3,042 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 Merchantville — 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.