The typical owner-occupied home in Port Elizabeth is worth about $247,900, 45% below the New Jersey median of $454,400 and 25% below the national median of $332,700. Owners pay a median $5,905 a year in property taxes, about 2.38% of their home's value, higher than the New Jersey rate of 2.11%. 56% of occupied homes here are lived in by their owners, and 25% of those owners still have a mortgage.
Port Elizabeth at a glance
| Port Elizabeth | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $247,900 | $454,400 | $332,700 |
| Median property tax paid per year | $5,905 | $9,590 | $3,119 |
| Property tax as a share of value | 2.38% | 2.11% | 0.94% |
| Median household income | – | $103,556 | $80,734 |
| Homes lived in by their owners | 56% | 64% | 65% |
| Owner homes with a mortgage | 25% | 64% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,829 | $1,963 |
| Median rent | – | $1,720 | $1,413 |
| Median year homes were built | 1995 | 1970 | 1980 |
| Vacant homes | 0.0% | 7.5% | 10.1% |
| Population | 261 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Port Elizabeth
At this week's average 30-year rate of 7.11%, buying the median Port Elizabeth home of $247,900 with 20% down costs about $1,929 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,342, 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 $82,674 for the 20%-down payment.
| Down payment | $49,580 |
|---|---|
| Loan amount | $198,320 |
| Principal and interest | $1,334 |
| Property taxes (2.38% a year) | $492 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| PMI | $0 |
| Total per month | $1,929 |
Change the numbers in the calculator
| Down payment | $8,676 |
|---|---|
| Loan amount | $243,410 |
| Principal and interest | $1,637 |
| Property taxes (2.38% a year) | $492 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| FHA mortgage insurance | $110 |
| Total per month | $2,342 |
Change the numbers in the calculator
Questions about home buying in Port Elizabeth
What is the median home value in Port Elizabeth?
About $247,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Port Elizabeth?
Homeowners pay a median $5,905 a year, which is about 2.38% 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 Port Elizabeth?
For the median home with 20% down at 7.11%, the payment is about $1,929 a month. Keeping that under 28% of gross income takes about $82,674 a year.
More about Port Elizabeth
- Mortgage Refinance in Port Elizabeth
- Debt Relief in Port Elizabeth
- Home Equity Loans in Port Elizabeth
- 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