Mortgage Calculator & Closing Costs: Atlantic City, NJ
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Atlantic City, New Jersey.
Median Home Price
$195K
Population
38K
Avg Monthly Rent
$1,150
Property Tax Rate
2.47% *
* Property tax shown is the New Jersey state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Atlantic City.
Atlantic City vs New Jersey Median
The median home price in Atlantic City is $195,000, which is 61% below the New Jersey state median of $505,000.
Mortgage Calculator — Atlantic City, NJ
Pre-filled with Atlantic City median home price and New Jersey tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $195K home using New Jersey's 2.47% tax rate and $1,500/yr insurance.
5% Down
$1,805/mo
Down: $9,750
Loan: $185K
P&I: $1,171
Tax: $401
Insurance: $125
PMI: $108
10% Down
$1,738/mo
Down: $19,500
Loan: $176K
P&I: $1,109
Tax: $401
Insurance: $125
PMI: $102
20% Down (No PMI)
$1,512/mo
Down: $39,000
Loan: $156K
P&I: $986
Tax: $401
Insurance: $125
Income needed (28% rule): $65K/year with 20% down, $74K/year with 10% down.
Rent vs Buy in Atlantic City
Rent
$1,150/mo
vs
Buy (10% down)
$1,738/mo
Price-to-rent ratio: 14.1 — With a ratio under 15, buying in Atlantic City is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $588 more than renting, but you build equity with every payment.
The median home price in Atlantic City is $195,000, 61% below the New Jersey state median of $505,000. With a population of 38,497, Atlantic City is a smaller market where home prices tend to be more accessible than in many parts of New Jersey.
Property taxes in New Jersey average 2.47% annually. This higher-than-average tax rate means a $195,000 home in Atlantic City would carry roughly $401/month in property taxes alone — plan accordingly. Homeowners insurance in New Jersey runs approximately $1,500 per year. This is within the normal range nationally.
Average rent in Atlantic City is $1,150/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Atlantic City over the long term.
Atlantic City offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with New Jersey's NJHMFA DPA Program program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Atlantic City.