Mortgage payment estimates, closing cost breakdowns, and homebuying data for Trenton, New Jersey.
Median Home Price
$215K
Population
91K
Avg Monthly Rent
$1,280
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 Trenton.
Trenton vs New Jersey Median
The median home price in Trenton is $215,000, which is 57% below the New Jersey state median of $505,000.
Mortgage Calculator — Trenton, NJ
Pre-filled with Trenton median home price and New Jersey tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $215K home using New Jersey's 2.47% tax rate and $1,500/yr insurance.
5% Down
$1,978/mo
Down: $10,750
Loan: $204K
P&I: $1,291
Tax: $443
Insurance: $125
PMI: $119
10% Down
$1,903/mo
Down: $21,500
Loan: $194K
P&I: $1,223
Tax: $443
Insurance: $125
PMI: $113
20% Down (No PMI)
$1,655/mo
Down: $43,000
Loan: $172K
P&I: $1,087
Tax: $443
Insurance: $125
Income needed (28% rule): $71K/year with 20% down, $82K/year with 10% down.
Rent vs Buy in Trenton
Rent
$1,280/mo
vs
Buy (10% down)
$1,903/mo
Price-to-rent ratio: 14.0 — With a ratio under 15, buying in Trenton is likely more cost-effective than renting if you plan to stay 3+ years. The monthly cost of buying is $623 more than renting, but you build equity with every payment.
The median home price in Trenton is $215,000, 57% below the New Jersey state median of $505,000. With a population of 90,871, Trenton 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 $215,000 home in Trenton would carry roughly $443/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 Trenton is $1,280/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Trenton over the long term.
Trenton 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 Trenton.