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What can you afford in New Jersey?
A baseline estimate for a household earning $96,000 a year gross, with typical debts and expenses, a $40,000 down payment, and a 740-759 credit score — using New Jersey's own property tax and insurance data rather than a national average. Every assumption is editable in the full calculator below.
New Jersey's effective property tax rate is around 2.26% of home value per year — the 1st highest in the country. Average homeowner's insurance runs near $1,650/year on a $300,000 home — the 20th lowest.
Comfortable
$273,568
Stretch
$317,097
Risky ceiling
$343,214
This baseline's own budget can sustain at least as much as a lender's debt-to-income ceiling allows in New Jersey — the DTI ratio, not the household budget, is what limits the number here.
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