Total monthly cost of ownership
Cost to Own a Home in Strathmore, New Jersey
A $504,000 home here costs
$4,246per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,591. The real number is $1,655 higher every month — 64% 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.
Strathmore against Monmouth County and New Jersey
| Measure | Strathmore | Monmouth County |
|---|---|---|
| Median home value | $503,600 | $566,500 |
| Median property tax | $10,001 | $10,001 |
| Effective tax rate | 1.986% | 1.765% |
| Median gross rent | $1,497 | $1,771 |
| Population | 6,593 | 643,615 |
The weather behind that power bill
Strathmore 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 Strathmore?
A $504,000 home in Strathmore, New Jersey costs approximately $4,246 per month with 20% down at 6.66%. That is $2,591 principal and interest, $834 property tax, $123 homeowners insurance, $277 utilities and $420 set aside for maintenance.
What is the property tax rate in Strathmore?
Strathmore has an effective property tax rate of 1.986%, based on a median home value of $503,600 and median real estate taxes of $10,001. That is higher than the Monmouth County average of 1.765%.
What is the average home price in Strathmore?
The median owner-occupied home value in Strathmore, New Jersey is $503,600, against $566,500 across Monmouth County.
Is it cheaper to rent or buy in Strathmore?
Median gross rent in Strathmore is $1,497 a month, against $4,246 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 Strathmore — 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.