Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Jersey City mortgage calculator
A median-priced Jersey City, NJ home at 6.75% over 30 years, with New Jersey property tax of 2.23% and $1,500 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$6,449 a month, all in
Principal and interest are $4,553; escrow and PMI add the rest. Over the full term the loan costs $937,137 in interest. Discounted at 5%, buying here has a net present value of $-28,468 ($419,659 in today’s dollars).
Within New Jersey, Jersey City is 2nd of the 5 New Jersey markets covered here, between Princeton at the top and Newark at the bottom of a 3.08x spread. A state-level median hides most of that.
Jersey City carries a premium over the rest of New Jersey: a median home here runs $780,000, about 50% above the state median of $520,000. The deposit moves with it, so the same 20% down is $156,000 rather than $104,000.
A price-to-rent ratio of 18.7 puts Jersey City in the middle of the range, where the rent-vs-buy answer is decided by how long you stay and what the deposit would otherwise earn.
Monthly cost in Jersey City vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $780,000 |
|---|---|
| Down payment (10%) | $78,000 |
| Loan amount | $702,000 |
| Principal & interest | $4,553/mo |
| Property tax (2.23%) | $1,450/mo |
| Homeowners insurance | $125/mo |
| PMI while above 80% LTV | $322/mo |
| Total monthly payment | $6,449/mo |
| Comparable rent | $3,480/mo |
What a rate move does to the Jersey City payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $3,986/mo |
| 6% | $4,209/mo |
| 6.5% | $4,437/mo |
| 7% | $4,670/mo |
| 7.5% | $4,908/mo |
| 8% | $5,151/mo |
Rent or buy in Jersey City?
Against $3,480 a month in rent, over 7 years renting leaves you about $210,736 better off — $177,285 once 2.5% inflation is stripped out. See the New Jersey rent-vs-buy page.
Where these numbers come from
New Jersey medians come from editorial and are refreshed weekly. The Jersey City figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.