Total monthly cost of ownership
Cost to Own a Home in Spring Lake, New Jersey
A $2,000,000 home here costs
$13,549per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $10,282. The real number is $3,267 higher every month — 32% 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.
Spring Lake against Monmouth County and New Jersey
| Measure | Spring Lake | Monmouth County |
|---|---|---|
| Median home value | $2,000,001 | $566,500 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 0.500% | 1.765% |
| Median gross rent | $2,194 | $1,771 |
| Population | 2,782 | 643,615 |
The weather behind that power bill
Spring Lake sits in Monmouth County, which averages a high of 86.5°F in its hottest month and a low of 22.9°F in its coldest, with 48.57" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 1,017 cooling and 4,988 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Monmouth County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Monmouth County
Full Monmouth County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Spring Lake?
A $2,000,000 home in Spring Lake, New Jersey costs approximately $13,549 per month with 20% down at 6.66%. That is $10,282 principal and interest, $833 property tax, $490 homeowners insurance, $277 utilities and $1,667 set aside for maintenance.
What is the property tax rate in Spring Lake?
Spring Lake has an effective property tax rate of 0.500%, based on a median home value of $2,000,001 and median real estate taxes of $10,001. That is lower than the Monmouth County average of 1.765%.
What is the average home price in Spring Lake?
The median owner-occupied home value in Spring Lake, New Jersey is $2,000,001, against $566,500 across Monmouth County.
Is it cheaper to rent or buy in Spring Lake?
Median gross rent in Spring Lake is $2,194 a month, against $13,549 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 Spring Lake — 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.