Mortgage Rates in New Jersey — March 2026
Compare current mortgage rates across 7 cities in New Jersey. The average 30-year fixed rate is 6.7%, which is 0.05% above the national average of 6.65%.
New Jersey Housing Highlights
All 7 Cities in New Jersey
| City | 30-Yr Rate | Home Price | Monthly P&I | Population |
|---|---|---|---|---|
| Newark | 6.7% | $365,000 | $1,884 | 311,549 |
| Jersey City | 6.7% | $565,000 | $2,917 | 292,449 |
| Paterson | 6.7% | $385,000 | $1,987 | 159,732 |
| Elizabeth | 6.7% | $395,000 | $2,039 | 137,298 |
| Edison | 6.7% | $485,000 | $2,504 | 107,588 |
| Woodbridge | 6.7% | $415,000 | $2,142 | 103,639 |
| Trenton | 6.7% | $175,000 | $903 | 90,871 |
New Jersey Mortgage Rates Guide — 2026
New Jersey homebuyers currently see an average 30-year fixed mortgage rate of 6.7%, with median home prices around $397,857. At these rates, the typical monthly mortgage payment (principal and interest with 20% down) is $2,054.
The most affordable city for homebuyers in New Jersey is Trenton, where the median home price is $175,000. On the other end, Jersey City has the highest prices at $565,000. Property tax rates across the state average 2.21%.
To comfortably afford a home at the state average price, a household income of approximately $88,029 is recommended, following the standard guideline that housing costs should not exceed 28% of gross income.
Use our free loan calculator to see your exact monthly payments and amortization schedule, or browse individual city pages below for localized rate data and market insights.
Frequently Asked Questions — New Jersey Mortgages
What are current mortgage rates in New Jersey?
As of March 2026, the average 30-year fixed mortgage rate in New Jersey is 6.7% and the 15-year fixed rate averages 5.94%. Rates vary by city, lender, and borrower qualification.
What is the average home price in New Jersey?
The median home price across 7 cities in New Jersey is $397,857. Prices range from $175,000 in Trenton to $565,000 in Jersey City.
How much income do I need to buy a house in New Jersey?
Based on the 28% debt-to-income guideline, you would need a household income of approximately $88,029 to comfortably afford the average home in New Jersey. The median household income in the state is approximately $58,240.
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