The typical owner-occupied home in Port Murray is worth about $521,600, 15% above the New Jersey median of $454,400 and 57% above the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.92% of their home's value, lower than the New Jersey rate of 2.11%. 100% of occupied homes here are lived in by their owners, and 24% of those owners still have a mortgage.
Port Murray at a glance
| Port Murray | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $521,600 | $454,400 | $332,700 |
| Median property tax paid per year | $10,001 | $9,590 | $3,119 |
| Property tax as a share of value | 1.92% | 2.11% | 0.94% |
| Median household income | – | $103,556 | $80,734 |
| Homes lived in by their owners | 100% | 64% | 65% |
| Owner homes with a mortgage | 24% | 64% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,829 | $1,963 |
| Median rent | – | $1,720 | $1,413 |
| Median year homes were built | 1991 | 1970 | 1980 |
| Vacant homes | 0.0% | 7.5% | 10.1% |
| Population | 138 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Port Murray
At this week's average 30-year rate of 7.11%, buying the median Port Murray home of $521,600 with 20% down costs about $3,859 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,728, 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 $165,384 for the 20%-down payment.
| Down payment | $104,320 |
|---|---|
| Loan amount | $417,280 |
| Principal and interest | $2,807 |
| Property taxes (1.92% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $217 |
| PMI | $0 |
| Total per month | $3,859 |
Change the numbers in the calculator
| Down payment | $18,256 |
|---|---|
| Loan amount | $512,153 |
| Principal and interest | $3,445 |
| Property taxes (1.92% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $217 |
| FHA mortgage insurance | $231 |
| Total per month | $4,728 |
Change the numbers in the calculator
Questions about home buying in Port Murray
What is the median home value in Port Murray?
About $521,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Port Murray?
Homeowners pay a median $10,001 a year, which is about 1.92% 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 Murray?
For the median home with 20% down at 7.11%, the payment is about $3,859 a month. Keeping that under 28% of gross income takes about $165,384 a year.
More about Port Murray
- Mortgage Refinance in Port Murray
- Debt Relief in Port Murray
- Home Equity Loans in Port Murray
- 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