Total monthly cost of ownership
Cost to Own a Home in Spotswood, New Jersey
A $359,000 home here costs
$3,332per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,846. The real number is $1,487 higher every month — 81% 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.
Spotswood against Middlesex County and New Jersey
| Measure | Spotswood | Middlesex County |
|---|---|---|
| Median home value | $359,000 | $439,300 |
| Median property tax | $9,868 | $9,684 |
| Effective tax rate | 2.749% | 2.204% |
| Median gross rent | $1,097 | $1,810 |
| Population | 8,112 | 861,535 |
The weather behind that power bill
Spotswood 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 $209 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
Common questions
How much does it cost to own a home in Spotswood?
A $359,000 home in Spotswood, New Jersey costs approximately $3,332 per month with 20% down at 6.66%. That is $1,846 principal and interest, $822 property tax, $88 homeowners insurance, $277 utilities and $299 set aside for maintenance.
What is the property tax rate in Spotswood?
Spotswood has an effective property tax rate of 2.749%, based on a median home value of $359,000 and median real estate taxes of $9,868. That is higher than the Middlesex County average of 2.204%.
What is the average home price in Spotswood?
The median owner-occupied home value in Spotswood, New Jersey is $359,000, against $439,300 across Middlesex County.
Is it cheaper to rent or buy in Spotswood?
Median gross rent in Spotswood is $1,097 a month, against $3,332 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 Spotswood — 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.