How Much House Can I Afford in Bergen County?
Calculate your home buying budget for Bergen County including high property taxes. Median home $749,714, average property tax $12,007/year. Get a real affordability estimate.
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Bergen County Market Reality
Income Needed for Bergen County Homes
Calculations assume 28% housing expense ratio, 6.5% interest rate, 2.73% property tax, $150/mo insurance
The 28/36 Affordability Rule
Industry standard for determining how much home you can afford
28% Front-End Ratio
Your monthly housing payment (PITI: Principal, Interest, Taxes, Insurance) should not exceed 28% of your gross monthly income.
Mortgage P&I: $1,800
Property Tax: $800
Insurance: $150
HOA: $50
36% Back-End Ratio
Your total monthly debt (housing + car loans + credit cards + student loans) should not exceed 36% of gross monthly income.
Housing: $2,800
Car Payment: $500
Credit Cards: $200
Student Loans: $100
Bergen County Property Tax Impact
Why Property Taxes Matter in Bergen County
Bergen County has one of the highest average property tax bills in NJ ($12,007/year). This significantly impacts affordability - a $750K home costs an extra $1,000/month just in property taxes.
Get Your Exact Bergen County Affordability Number
We calculate your complete monthly payment including Bergen County property taxes, insurance, and HOA. Get pre-approved in 24 hours and know exactly how much you can afford.
Jimmy Joseph MBA • NMLS 1577754 • jjoseph@cmghomeloans.com