|New Jersey Real Estate at a Glance:|
|Population:||8,864,590||Est. % of all sales that are short-sales:||0.22%|
|Land Mass in Square Miles:||8,721.3||Property Taxes % of Home Value:||1.89%|
|Median Home Value:||$348,300|
Above are today’s home loan interest rates for New Jersey.
New Jersey is reported to have the highest property taxes in the nation, as it charges 1.89 percent of a property’s total value each year. Additionally, this state ranks third in the nation for highest median home value, making homeownership in New Jersey an expensive prospect.
The expensive nature of New Jersey may be due to the fact that the state only spans 8,721 square miles, inciting the laws of supply and demand.
Anyone looking to buy in this relatively expensive state should take a look at these mortgage rates. They change daily, but this report will give you the updated averages.