Total monthly cost of ownership
Cost to Own a Home in Toms River, New Jersey
A $378,000 home here costs
$3,271per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $140,000 a year.
A standard mortgage calculator would have told you $2,094. The real number is $1,177 higher every month, 56% more than the payment most buyers budget for.
Compare Ocean County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Toms River against Ocean County and New Jersey
| Measure | Toms River | Ocean County |
|---|---|---|
| Median home value | $377,800 | $366,600 |
| Median property tax | $6,414 | $6,499 |
| Effective tax rate | 1.698% | 1.773% |
| Median gross rent | $1,678 | $1,702 |
| Population | 93,915 | 646,434 |
The weather behind that power bill
Toms River sits in Ocean County, which averages a high of 85.5°F in its hottest month and a low of 21.7°F in its coldest, with 52.04" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 861 cooling and 5,328 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Ocean County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ocean County
Full Ocean County cost breakdown · Every county in New Jersey
Talk to someone who works this market
These are Toms River averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Toms River every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Toms River I already own here and may sell
Common questions
How much does it cost to own a home in Toms River?
A $378,000 home in Toms River, New Jersey costs approximately $3,271 per month with 20% down at 7.4%. That is $2,094 principal and interest, $535 property tax, $93 homeowners insurance, $235 utilities and $315 set aside for maintenance.
What is the property tax rate in Toms River?
Toms River has an effective property tax rate of 1.698%, based on a median home value of $377,800 and median real estate taxes of $6,414. That is lower than the Ocean County average of 1.773%.
What is the average home price in Toms River?
The median owner-occupied home value in Toms River, New Jersey is $377,800, against $366,600 across Ocean County.
Is it cheaper to rent or buy in Toms River?
Median gross rent in Toms River is $1,678 a month, against $3,271 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Toms River?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Toms River, New Jersey at today's rate takes a household income of roughly $140,000 a year. That covers the full $3,271 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Toms River, 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.