Mortgage Rates in Lakewood, New Jersey — March 2026
Updated March 2026 | Based on Lakewood market data and regional lending conditions
Lakewood is a growing city in New Jersey with a population of 106,300. The current 30-year fixed mortgage rate in Lakewood is 6.67%, which is 0.02% above the national average. With a median home price of $504,000 and a 20% down payment of $100,800, homebuyers can expect a monthly principal and interest payment of approximately $2,594.
Current Mortgage Rates in Lakewood, NJ
Below are the current average mortgage rates available in the Lakewood area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Lakewood Housing Market Overview
The Lakewood housing market is competitive with prices well above the national median. The median household income in Lakewood is $99,700, and the cost of living index is 128.8 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $150,429 to comfortably afford the median-priced home in Lakewood, which exceeds the current median household income.
Monthly Payment Breakdown for Lakewood
Based on the median home price of $504,000 with 20% down ($100,800), here is what you can expect to pay monthly in Lakewood:
15-Year vs. 30-Year Mortgage in Lakewood
Choosing a 15-year mortgage in Lakewood at 5.93% instead of a 30-year at 6.67% would save you $324,180 in total interest over the life of the loan. However, your monthly payment would be $3,387 instead of $2,594 — an increase of $793 per month.
Calculate Your Lakewood Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Lakewood
What are the current mortgage rates in Lakewood, NJ?
As of March 2026, the average 30-year fixed mortgage rate in Lakewood, New Jersey is 6.67%, while the 15-year fixed rate is 5.93%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Lakewood?
Based on the median home price of $504,000 with 20% down, the estimated monthly mortgage payment in Lakewood is $2,594 for principal and interest. Including property taxes of $916/month, the total monthly housing cost is approximately $3,510.
What income do I need to buy a home in Lakewood?
Using the 28% rule, you would need an annual income of approximately $150,429 to afford the median-priced home in Lakewood at $504,000. The median household income in Lakewood is $99,700. This means most households would need to either earn above the median or consider homes below $504,000.
Is Lakewood a good place to buy a home in 2026?
Lakewood has a higher cost of living than average with a cost of living index of 128.8 (national average = 100). The property tax rate in New Jersey is 2.18%, which is above the national average. Lakewood has a population of 106,300 and offers a balanced lifestyle.
Mortgage Rates in Other New Jersey Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Lakewood, New Jersey area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.