According to data from ClosingCorp, the average closing cost in New Jersey is $6,012 after taxes, or approximately 1.5% to 2% of the final home sale price.
Closing cost stats in New Jersey
Across the state, the average home sells for between $300,000 and $400,000. If you buy a property in that range, expect to pay between $4,509 and $8,016 in closing costs after taxes.
|Average home sale price||$300,000 to $400,000|
|Average total closing cost||$6,012|
|Expected closing cost range||$4,509 to $8,016|
|Percentage of closing cost to home sale price||1.5% to 2%|
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How much does tax affect the closing cost?
Buyers and sellers in New Jersey pay an average of $2,377 in tax combined for the closing. This accounts for 39.54% of the total average closing cost in New Jersey.
|Average tax paid||$2,377|
|Percentage of total closing cost||39.54%|
How do closing costs in New Jersey compare nationally?
The closing costs for buying a home in New Jersey are above the national average after accounting for taxes. It’s 34 in our rankings which rates states from lowest to highest closing cost.
|Average total closing cost in New Jersey||Ranking*|
*Ranked from lowest to highest of the 50 states plus Washington DC
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in New Jersey.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
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