Ranked from ACS 2023 5-Year
Cheapest Counties to Own a Home Outright in New Jersey
Paying off a mortgage does not end the cost of a house. This ranks counties by what the median home still costs every month with no loan at all: property tax, insurance, electricity, water and maintenance. Nowhere in America is it zero.
Where does yours land?
Every county in America is somewhere on this scale, including the one you live in.
New Jersey ranked
| # | County | Monthly if paid off | Median home | Effective rate |
|---|---|---|---|---|
| 1 | Cumberland County | $877 | $205,600 | 2.455% |
| 2 | Salem County | $1,038 | $223,000 | 3.030% |
| 3 | Atlantic County | $1,091 | $272,700 | 2.475% |
| 4 | Cape May County | $1,097 | $395,000 | 1.325% |
| 5 | Ocean County | $1,172 | $366,600 | 1.773% |
| 6 | Camden County | $1,189 | $262,200 | 3.075% |
| 7 | Gloucester County | $1,204 | $283,500 | 2.809% |
| 8 | Burlington County | $1,246 | $326,700 | 2.419% |
| 9 | Warren County | $1,263 | $323,100 | 2.524% |
| 10 | Sussex County | $1,309 | $342,800 | 2.468% |
| 11 | Mercer County | $1,347 | $351,000 | 2.508% |
| 12 | Middlesex County | $1,515 | $439,300 | 2.204% |
| 13 | Passaic County | $1,542 | $439,400 | 2.276% |
| 14 | Hudson County | $1,568 | $508,600 | 1.851% |
| 15 | Union County | $1,595 | $488,800 | 2.046% |
| 16 | Essex County | $1,601 | $494,400 | 2.023% |
| 17 | Hunterdon County | $1,606 | $498,800 | 2.005% |
| 18 | Somerset County | $1,633 | $523,900 | 1.909% |
| 19 | Morris County | $1,669 | $557,000 | 1.796% |
| 20 | Monmouth County | $1,679 | $566,500 | 1.765% |
| 21 | Bergen County | $1,708 | $593,200 | 1.686% |
Every figure is modelled on the county's own median home with 20% down at 7.03%. Property tax and electricity are county and state specific; homeowners insurance uses the NAIC average premium for that state, which ranges from 0.16% of home value in Hawaii to 1.16% in Oklahoma. Maintenance and water are national estimates. Full methodology.
Nationwide
Cheapest Counties to Own a Home Outright across all 3,133 US counties · Every county in New Jersey