According to data from ClosingCorp, the average closing cost in New Jersey is $7,827.87 after taxes, or approximately 1.57% to 1.96% of the final home sale price.
Across the state, the average home sells for between $400,000 and $500,000. If you buy a property in that range, expect to pay between $6,262.30 and $9,784.84 in closing costs after taxes.
| Data | Value |
|---|---|
| Average home sale price | $400,000 to $500,000 |
| Average total closing cost | $7,827.87 |
| Expected closing cost range | $6,262.30 to $9,784.84 |
| Percentage of closing cost to home sale price | 1.57% to 1.96% |
Buyers and sellers in New Jersey pay an average of $3,798.18 in tax combined for the closing. This accounts for 48.52% of the total average closing cost in New Jersey.
| Value | |
|---|---|
| Average tax paid | $3,798.18 |
| Percentage of total closing cost | 48.52% |
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* | |
|---|---|---|
| Before taxes | $4,029.69 | 14 |
| After taxes | $7,827.87 | 34 |
*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.
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