Total monthly cost of ownership
Cost to Own a Home in Smithville, New Jersey
A $271,000 home here costs
$2,495per 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 $107,000 a year.
A standard mortgage calculator would have told you $1,477. The real number is $1,017 higher every month, 69% more than the payment most buyers budget for.
Compare Atlantic 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.
Smithville against Atlantic County and New Jersey
| Measure | Smithville | Atlantic County |
|---|---|---|
| Median home value | $270,600 | $272,700 |
| Median property tax | $5,920 | $6,749 |
| Effective tax rate | 2.188% | 2.475% |
| Median gross rent | $1,477 | $1,325 |
| Population | 9,260 | 274,704 |
The weather behind that power bill
Smithville sits in Atlantic County, which averages a high of 86.6°F in its hottest month and a low of 25.1°F in its coldest, with 45.96" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,136 cooling and 4,701 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Atlantic County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Atlantic County
Full Atlantic County cost breakdown · Every county in New Jersey
Talk to someone who works this market
These are Smithville 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 Smithville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Smithville I already own here and may sell
Common questions
How much does it cost to own a home in Smithville?
A $271,000 home in Smithville, New Jersey costs approximately $2,495 per month with 20% down at 7.24%. That is $1,477 principal and interest, $494 property tax, $66 homeowners insurance, $231 utilities and $226 set aside for maintenance.
What is the property tax rate in Smithville?
Smithville has an effective property tax rate of 2.188%, based on a median home value of $270,600 and median real estate taxes of $5,920. That is lower than the Atlantic County average of 2.475%.
What is the average home price in Smithville?
The median owner-occupied home value in Smithville, New Jersey is $270,600, against $272,700 across Atlantic County.
Is it cheaper to rent or buy in Smithville?
Median gross rent in Smithville is $1,477 a month, against $2,495 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 Smithville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Smithville, New Jersey at today's rate takes a household income of roughly $107,000 a year. That covers the full $2,495 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Smithville, 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.