Total monthly cost of ownership
Cost to Own a Home in Stanhope, New Jersey
A $326,000 home here costs
$3,000per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,676. The real number is $1,324 higher every month — 79% 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.
Stanhope against Sussex County and New Jersey
| Measure | Stanhope | Sussex County |
|---|---|---|
| Median home value | $326,000 | $342,800 |
| Median property tax | $8,350 | $8,462 |
| Effective tax rate | 2.561% | 2.468% |
| Median gross rent | $1,796 | $1,503 |
| Population | 3,551 | 145,117 |
The weather behind that power bill
Stanhope sits in Sussex County, which averages a high of 83.6°F in its hottest month and a low of 18.0°F in its coldest, with 40.95" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 639 cooling and 6,048 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Sussex County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sussex County
Full Sussex County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Stanhope?
A $326,000 home in Stanhope, New Jersey costs approximately $3,000 per month with 20% down at 6.66%. That is $1,676 principal and interest, $696 property tax, $80 homeowners insurance, $277 utilities and $272 set aside for maintenance.
What is the property tax rate in Stanhope?
Stanhope has an effective property tax rate of 2.561%, based on a median home value of $326,000 and median real estate taxes of $8,350. That is higher than the Sussex County average of 2.468%.
What is the average home price in Stanhope?
The median owner-occupied home value in Stanhope, New Jersey is $326,000, against $342,800 across Sussex County.
Is it cheaper to rent or buy in Stanhope?
Median gross rent in Stanhope is $1,796 a month, against $3,000 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 Stanhope — 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.