Total monthly cost of ownership
Cost to Own a Home in Pennsville, New Jersey
A $188,000 home here costs
$2,032per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $967. The real number is $1,066 higher every month — 110% 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.
Pennsville against Salem County and New Jersey
| Measure | Pennsville | Salem County |
|---|---|---|
| Median home value | $188,100 | $223,000 |
| Median property tax | $7,031 | $6,757 |
| Effective tax rate | 3.738% | 3.030% |
| Median gross rent | $1,225 | $1,185 |
| Population | 12,238 | 64,973 |
The weather behind that power bill
Pennsville sits in Salem County, which averages a high of 86.8°F in its hottest month and a low of 25.6°F in its coldest, with 45.33" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,229 cooling and 4,647 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Salem County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Salem County
Full Salem County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Pennsville?
A $188,000 home in Pennsville, New Jersey costs approximately $2,032 per month with 20% down at 6.66%. That is $967 principal and interest, $586 property tax, $46 homeowners insurance, $277 utilities and $157 set aside for maintenance.
What is the property tax rate in Pennsville?
Pennsville has an effective property tax rate of 3.738%, based on a median home value of $188,100 and median real estate taxes of $7,031. That is higher than the Salem County average of 3.030%.
What is the average home price in Pennsville?
The median owner-occupied home value in Pennsville, New Jersey is $188,100, against $223,000 across Salem County.
Is it cheaper to rent or buy in Pennsville?
Median gross rent in Pennsville is $1,225 a month, against $2,032 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 Pennsville — 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.