Total monthly cost of ownership
Cost to Own a Home in Thorofare, New Jersey
A $273,000 home here costs
$2,542per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,403. The real number is $1,139 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.
Thorofare against Gloucester County and New Jersey
| Measure | Thorofare | Gloucester County |
|---|---|---|
| Median home value | $272,700 | $283,500 |
| Median property tax | $6,802 | $7,964 |
| Effective tax rate | 2.494% | 2.809% |
| Median gross rent | $1,868 | $1,480 |
| Population | 2,419 | 304,504 |
The weather behind that power bill
Thorofare sits in Gloucester County, which averages a high of 87.8°F in its hottest month and a low of 26.0°F in its coldest, with 44.11" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,358 cooling and 4,510 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Gloucester County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Gloucester County
Full Gloucester County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Thorofare?
A $273,000 home in Thorofare, New Jersey costs approximately $2,542 per month with 20% down at 6.66%. That is $1,403 principal and interest, $567 property tax, $67 homeowners insurance, $277 utilities and $228 set aside for maintenance.
What is the property tax rate in Thorofare?
Thorofare has an effective property tax rate of 2.494%, based on a median home value of $272,700 and median real estate taxes of $6,802. That is lower than the Gloucester County average of 2.809%.
What is the average home price in Thorofare?
The median owner-occupied home value in Thorofare, New Jersey is $272,700, against $283,500 across Gloucester County.
Is it cheaper to rent or buy in Thorofare?
Median gross rent in Thorofare is $1,868 a month, against $2,542 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 Thorofare — 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.