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New Jersey

Learn about the people, housing, costs and businesses across New Jersey

Median Home$492,445
Median Rent$1,876/month
Population9,343,809
Leading IndustriesTransportation · Information & Media · Finance & Insurance3% transportation
Home Value Growth⬆⬆⬆+22.5% over 2 years
Young Adults28% of residents
Homeowners64% of occupied units
NotableHighly Educated26% bachelor's · 13% graduate · top 3% nationally
NotableHigh Incomes$115k/year · top 4% nationally
New Jersey

Frequently Asked Questions

What are today's mortgage rates in New Jersey?

As of today, the 30-year fixed mortgage rate for New Jersey is approximately 6.602% (6.651% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in New Jersey?

The median home value in New Jersey is $492k. The median monthly rent is $1,876. Annual property taxes average $9k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Jersey?

Home values in New Jersey have increased 22.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in New Jersey?

Based on a typical all-in ownership cost of $2,096/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $90k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Jersey is $115k/year.

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What industries drive the economy in New Jersey?

The largest employment sectors in New Jersey are public administration (24%) and healthcare (14%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.