The typical owner-occupied home in Blackwood is worth about $235,500, 48% below the New Jersey median of $454,400 and 29% below the national median of $332,700. Owners pay a median $7,585 a year in property taxes, about 3.22% of their home's value, higher than the New Jersey rate of 2.11%. The median household earns $90,061 a year, so the median home costs 2.6 times the median income (4.4 times for New Jersey). 70% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Blackwood at a glance
| Blackwood | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $235,500 | $454,400 | $332,700 |
| Median property tax paid per year | $7,585 | $9,590 | $3,119 |
| Property tax as a share of value | 3.22% | 2.11% | 0.94% |
| Median household income | $90,061 | $103,556 | $80,734 |
| Homes lived in by their owners | 70% | 64% | 65% |
| Owner homes with a mortgage | 71% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,151 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 24.5% | 22.9% | 21.0% |
| Median rent | $1,385 | $1,720 | $1,413 |
| Rent as a share of renters' income | 26.5% | 30.9% | 30.6% |
| Median year homes were built | 1959 | 1970 | 1980 |
| Vacant homes | 9.9% | 7.5% | 10.1% |
| Population | 4,443 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Blackwood
At this week's average 30-year rate of 7.11%, buying the median Blackwood home of $235,500 with 20% down costs about $1,997 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,390, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $85,604 for the 20%-down payment. That payment is 27% of the median Blackwood household income of $90,061; at that income and 20% down, the 28% guideline points to a home of about $248,000.
The median rent here is $1,385 a month, so owning the median home costs about $612 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,100 |
|---|---|
| Loan amount | $188,400 |
| Principal and interest | $1,267 |
| Property taxes (3.22% a year) | $632 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| PMI | $0 |
| Total per month | $1,997 |
Change the numbers in the calculator
| Down payment | $8,242 |
|---|---|
| Loan amount | $231,235 |
| Principal and interest | $1,556 |
| Property taxes (3.22% a year) | $632 |
| Homeowners insurance (our estimate, 0.5% a year) | $98 |
| FHA mortgage insurance | $104 |
| Total per month | $2,390 |
Change the numbers in the calculator
Questions about home buying in Blackwood
What is the median home value in Blackwood?
About $235,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Blackwood?
Homeowners pay a median $7,585 a year, which is about 3.22% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Blackwood?
For the median home with 20% down at 7.11%, the payment is about $1,997 a month. Keeping that under 28% of gross income takes about $85,604 a year.
More about Blackwood
- Mortgage Refinance in Blackwood
- Debt Relief in Blackwood
- Home Equity Loans in Blackwood
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data