The typical owner-occupied home in Hamburg is worth about $280,900, 38% below the New Jersey median of $454,400 and 16% below the national median of $332,700. Owners pay a median $8,553 a year in property taxes, about 3.04% of their home's value, higher than the New Jersey rate of 2.11%. The median household earns $86,975 a year, so the median home costs 3.2 times the median income (4.4 times for New Jersey). 70% of occupied homes here are lived in by their owners, and 66% of those owners still have a mortgage.
Hamburg at a glance
| Hamburg | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $280,900 | $454,400 | $332,700 |
| Median property tax paid per year | $8,553 | $9,590 | $3,119 |
| Property tax as a share of value | 3.04% | 2.11% | 0.94% |
| Median household income | $86,975 | $103,556 | $80,734 |
| Homes lived in by their owners | 70% | 64% | 65% |
| Owner homes with a mortgage | 66% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,306 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 22.4% | 22.9% | 21.0% |
| Median rent | $1,685 | $1,720 | $1,413 |
| Rent as a share of renters' income | 37.7% | 30.9% | 30.6% |
| Median year homes were built | 1983 | 1970 | 1980 |
| Vacant homes | 0.6% | 7.5% | 10.1% |
| Population | 3,308 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Hamburg
At this week's average 30-year rate of 7.11%, buying the median Hamburg home of $280,900 with 20% down costs about $2,340 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,808, 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 $100,302 for the 20%-down payment. That payment is 32% of the median Hamburg household income of $86,975; at that income and 20% down, the 28% guideline points to a home of about $244,000.
The median rent here is $1,685 a month, so owning the median home costs about $655 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $56,180 |
|---|---|
| Loan amount | $224,720 |
| Principal and interest | $1,512 |
| Property taxes (3.04% a year) | $712 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| PMI | $0 |
| Total per month | $2,340 |
Change the numbers in the calculator
| Down payment | $9,832 |
|---|---|
| Loan amount | $275,812 |
| Principal and interest | $1,855 |
| Property taxes (3.04% a year) | $712 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| FHA mortgage insurance | $124 |
| Total per month | $2,808 |
Change the numbers in the calculator
Questions about home buying in Hamburg
What is the median home value in Hamburg?
About $280,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hamburg?
Homeowners pay a median $8,553 a year, which is about 3.04% 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 Hamburg?
For the median home with 20% down at 7.11%, the payment is about $2,340 a month. Keeping that under 28% of gross income takes about $100,302 a year.
More about Hamburg
- Mortgage Refinance in Hamburg
- Debt Relief in Hamburg
- Home Equity Loans in Hamburg
- 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