Total monthly cost of ownership
Cost to Own a Home in Union City, New Jersey
A $447,000 home here costs
$4,026per 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 $172,500 a year.
A standard mortgage calculator would have told you $2,476. The real number is $1,550 higher every month, 63% more than the payment most buyers budget for.
Compare Hudson 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.
Union City against Hudson County and New Jersey
| Measure | Union City | Hudson County |
|---|---|---|
| Median home value | $446,800 | $508,600 |
| Median property tax | $10,001 | $9,413 |
| Effective tax rate | 2.238% | 1.851% |
| Median gross rent | $1,489 | $1,811 |
| Population | 66,375 | 710,478 |
The weather behind that power bill
Union City sits in Hudson County, which averages a high of 86.9°F in its hottest month and a low of 25.5°F in its coldest, with 46.6" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 1,270 cooling and 4,701 heating degree days, which is what sets the $167 electricity line above.
See the full climate breakdown for Hudson County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Hudson County
Full Hudson County cost breakdown · Every county in New Jersey
Talk to someone who works this market
These are Union City 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 Union City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Union City I already own here and may sell
Common questions
How much does it cost to own a home in Union City?
A $447,000 home in Union City, New Jersey costs approximately $4,026 per month with 20% down at 7.4%. That is $2,476 principal and interest, $834 property tax, $110 homeowners insurance, $235 utilities and $373 set aside for maintenance.
What is the property tax rate in Union City?
Union City has an effective property tax rate of 2.238%, based on a median home value of $446,800 and median real estate taxes of $10,001. That is higher than the Hudson County average of 1.851%.
What is the average home price in Union City?
The median owner-occupied home value in Union City, New Jersey is $446,800, against $508,600 across Hudson County.
Is it cheaper to rent or buy in Union City?
Median gross rent in Union City is $1,489 a month, against $4,026 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 Union City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Union City, New Jersey at today's rate takes a household income of roughly $172,500 a year. That covers the full $4,026 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Union City, 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.