New Jersey's Most Expensive Counties for Financing a Home

Is Owning a Home In New Jersey On Your "To-Do" List?

Do younger Americans want to buy a home? According to Lending Tree, the answer is YES. Here are some facts they produced on the topic of home ownership.

Yes, many young Americans want to buy a home, but they face obstacles when buying a home in the U.S. According to Lending Tree, "84% of young Americans who've never owned a home say they want to in the future. 82% of all buyers view a home purchase as a good financial investment. 82% of Generation Z and millennials who do not own a home say they're willing to make a sacrifice to find more affordable housing."

What is the Average Price of Homes in Today's Market?

According to Zillow, "As of June 2024, the median home price in New Jersey is $550,400, according to Redfin. However, home prices can vary widely depending on the location, size, and amenities."

NJ's Most Expensive Counties for Financing a Home

Let's break the search for a home down to the actual county you are thinking of buying in New Jersey. We always here "location, location, location" so let's see what that means when it comes to actual dollars. North Jersey says, "Of New Jersey's 21 counties, financial company SmartAsset recently released a study ranking the state's 10 most expensive counties for financing a home. The counties listed include five from North Jersey, two from Central Jersey and two from South Jersey."

No. 10 Passaic County ($1.08 million)

No. 9 Union County ($1.158 million)

No. 8 Hudson County ($1.17 million)

No. 7 Essex County ($1.21 million)

No. 6 Somerset County ($1.22 million)

No. 5 Hunterdon County ($1.24 million)

No. 4 Morris County ($1.27 million)

No. 3 Bergen County ($1.4 million)

No, 2 Monmouth County ($1.46 million)

No, 1 Cape May County ($1.49 million)

There it is, Cape May County is the priciest county to finance a home in New Jersey. "With a median home value of $704,610 and an estimated 6.99% interest rate, the total financing cost there is $1.49 million."

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LOOK: The priciest home for sale in every U.S. state

From vast expanses to explore in the West to "cozy" beach retreats in the East, get ready to be dazzled by the opulence of the most luxurious real estate across all 50 states. We've ranked them from the least expensive (a bargain at $3,095,000!) to the most expensive. Simply tap or click on the photo to see more of each home, or if you're feeling extravagant, book a viewing.

Gallery Credit: Stephen Lenz