Total monthly cost of ownership
Cost to Own a Home in Moorestown-Lenola, New Jersey
A $533,000 home here costs
$4,517per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $193,500 a year.
A standard mortgage calculator would have told you $2,906. The real number is $1,611 higher every month, 55% more than the payment most buyers budget for.
Compare Burlington 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.
Moorestown-Lenola against Burlington County and New Jersey
| Measure | Moorestown-Lenola | Burlington County |
|---|---|---|
| Median home value | $533,400 | $326,700 |
| Median property tax | $9,677 | $7,902 |
| Effective tax rate | 1.814% | 2.419% |
| Median gross rent | $1,487 | $1,669 |
| Population | 14,523 | 464,226 |
The weather behind that power bill
Moorestown-Lenola sits in Burlington 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 $163 electricity line above.
See the full climate breakdown for Burlington County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Burlington County
Full Burlington County cost breakdown · Every county in New Jersey
Talk to someone who works this market
These are Moorestown-Lenola 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 Moorestown-Lenola every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Moorestown-Lenola I already own here and may sell
Common questions
How much does it cost to own a home in Moorestown-Lenola?
A $533,000 home in Moorestown-Lenola, New Jersey costs approximately $4,517 per month with 20% down at 7.24%. That is $2,906 principal and interest, $806 property tax, $131 homeowners insurance, $231 utilities and $444 set aside for maintenance.
What is the property tax rate in Moorestown-Lenola?
Moorestown-Lenola has an effective property tax rate of 1.814%, based on a median home value of $533,400 and median real estate taxes of $9,677. That is lower than the Burlington County average of 2.419%.
What is the average home price in Moorestown-Lenola?
The median owner-occupied home value in Moorestown-Lenola, New Jersey is $533,400, against $326,700 across Burlington County.
Is it cheaper to rent or buy in Moorestown-Lenola?
Median gross rent in Moorestown-Lenola is $1,487 a month, against $4,517 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 Moorestown-Lenola?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Moorestown-Lenola, New Jersey at today's rate takes a household income of roughly $193,500 a year. That covers the full $4,517 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Moorestown-Lenola, 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.