The typical owner-occupied home in Liberty Corner is worth about $1,187,500, 2.6 times the New Jersey median of $454,400 and 3.6 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 0.84% of their home's value, lower than the New Jersey rate of 2.11%. The median household earns $241,480 a year, so the median home costs 4.9 times the median income (4.4 times for New Jersey). 68% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Liberty Corner at a glance
| Liberty Corner | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $1,187,500 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 0.84% | 2.11% | 0.94% |
| Median household income | $241,480 | $103,556 | $80,734 |
| Homes lived in by their owners | 68% | 64% | 65% |
| Owner homes with a mortgage | 62% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 18.4% | 22.9% | 21.0% |
| Median rent | $3,501 | $1,720 | $1,413 |
| Rent as a share of renters' income | 29.3% | 30.9% | 30.6% |
| Median year homes were built | 1985 | 1970 | 1980 |
| Vacant homes | 0.0% | 7.5% | 10.1% |
| Population | 2,325 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Liberty Corner
At this week's average 30-year rate of 7.11%, buying the median Liberty Corner home of $1,187,500 with 20% down costs about $7,717 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $9,886, 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 $330,718 for the 20%-down payment. That payment is 38% of the median Liberty Corner household income of $241,480; at that income and 20% down, the 28% guideline points to a home of about $867,000.
The median rent here is $3,501 a month, so owning the median home costs about $4,216 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $237,500 |
|---|---|
| Loan amount | $950,000 |
| Principal and interest | $6,391 |
| Property taxes (0.84% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $495 |
| PMI | $0 |
| Total per month | $7,717 |
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| Down payment | $41,562 |
|---|---|
| Loan amount | $1,165,991 |
| Principal and interest | $7,844 |
| Property taxes (0.84% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $495 |
| FHA mortgage insurance | $716 |
| Total per month | $9,886 |
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Questions about home buying in Liberty Corner
What is the median home value in Liberty Corner?
About $1,187,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Liberty Corner?
Homeowners pay a median $10,001 a year, which is about 0.84% 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 Liberty Corner?
For the median home with 20% down at 7.11%, the payment is about $7,717 a month. Keeping that under 28% of gross income takes about $330,718 a year.
More about Liberty Corner
- Mortgage Refinance in Liberty Corner
- Debt Relief in Liberty Corner
- Home Equity Loans in Liberty Corner
- 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