Total monthly cost of ownership
Cost to Own a Home in South River, New Jersey
A $383,000 home here costs
$3,383per 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 $145,000 a year.
A standard mortgage calculator would have told you $2,088. The real number is $1,295 higher every month, 62% more than the payment most buyers budget for.
Compare Middlesex 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.
South River against Middlesex County and New Jersey
| Measure | South River | Middlesex County |
|---|---|---|
| Median home value | $382,500 | $439,300 |
| Median property tax | $7,804 | $9,684 |
| Effective tax rate | 2.040% | 2.204% |
| Median gross rent | $1,599 | $1,810 |
| Population | 16,007 | 861,535 |
The weather behind that power bill
South River sits in Middlesex County, which averages a high of 86.5°F in its hottest month and a low of 22.9°F in its coldest, with 49.53" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,037 cooling and 5,101 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Middlesex County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Middlesex County
Full Middlesex County cost breakdown · Every county in New Jersey
Talk to someone who works this market
These are South River 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 South River every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in South River I already own here and may sell
Common questions
How much does it cost to own a home in South River?
A $383,000 home in South River, New Jersey costs approximately $3,383 per month with 20% down at 7.24%. That is $2,088 principal and interest, $651 property tax, $94 homeowners insurance, $231 utilities and $319 set aside for maintenance.
What is the property tax rate in South River?
South River has an effective property tax rate of 2.040%, based on a median home value of $382,500 and median real estate taxes of $7,804. That is lower than the Middlesex County average of 2.204%.
What is the average home price in South River?
The median owner-occupied home value in South River, New Jersey is $382,500, against $439,300 across Middlesex County.
Is it cheaper to rent or buy in South River?
Median gross rent in South River is $1,599 a month, against $3,383 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 South River?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in South River, New Jersey at today's rate takes a household income of roughly $145,000 a year. That covers the full $3,383 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for South River, 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.