CALCMONEY // MORTGAGE // NJ // ELIZABETH
Calculate your monthly mortgage payment using Elizabeth-specific property tax rates and local market data.
$425,000
6.95%
2.3%
128
| Principal & Interest | $2,251 |
| Property Tax | $815 |
| Homeowners Insurance (est.) | $142 |
| Total Monthly Payment (PITI) | $3,207 |
$85,000
$470,224
$137,437/yr
$425,000 buys the median home in Elizabeth right now. With 20% down, that's a $85,000 down payment and a $340,000 loan, set against a $58,000 median household income.
Property taxes in Elizabeth run 2.3% of assessed value, above the 1.1% national average. On the median home, that's $9,775 a year, or $815 added to the monthly payment.
Unlike the nine no-income-tax states, New Jersey taxes wage income. Worth running your actual take-home pay against the $3,207/month payment here before locking in a target price.
Day-to-day expenses in Elizabeth track at 128 against the national 100 baseline, above average once you look past the mortgage payment itself.
Elizabeth's median home price runs 2% higher than nearby Newark: $415,000 there versus $425,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $340,000 loan saves $15,300 in interest over 30 years.
Compare Top Elizabeth Mortgage LendersNewark
$415,000 median
NJJersey City
$650,000 median
NJPaterson
$350,000 median
NJTrenton
$225,000 median