Property Tax Calculator for Newark, NJ
Updated 2026 · Local data pre-filled
Property taxes in Newark run approximately 2.30% of assessed value. On the median home of $395,000, that's roughly $9,085/year ($757/mo). This is above the national average rate of 1.10%.
✓ Calculator below is pre-filled with Newark local data
How Newark Compares to the National Average
Understanding how Newark stacks up helps you calibrate your financial planning.
| Metric | Newark, NJ | US Average | Difference |
|---|---|---|---|
| Median Home Price | $395,000 | $420,800 | -6.1% |
| Median Monthly Rent | $1,800 | $1,713 | +5.1% |
| Median Household Income | $37,200 | $74,580 | -50.1% |
| Property Tax Rate | 2.30% | 1.10% | +109.1% |
| Cost of Living Index | 140 | 100 | +40.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Newark Financial Snapshot
- Population (Metro)
- 310,000
- Unemployment
- 6.1%
- Avg Commute
- 33 min
- Median Age
- 33.4
- Price-to-Rent Ratio
- 18.3x
- Annual Property Tax
- $9,085
Property Tax Calculator in Other New Jersey Cities
Frequently Asked Questions — Newark
What is the median home price in Newark, NJ?
The median home price in Newark is $395,000 as of 2025–2026. This is below the national median of $420,800.
What is the average rent in Newark?
Median monthly rent in Newark is $1,800. That works out to $21,600/year, or 58% of the median household income — above the recommended 30% threshold.
Is Newark affordable?
Newark's cost of living index is 140 vs. the national average of 100. With a median household income of $37,200/year and a median home price of $395,000, the price-to-income ratio is 10.6x. This makes homeownership a significant stretch for the typical Newark household.
What is the property tax rate in Newark?
The effective property tax rate in Newark is 2.30% of assessed value. On the median home of $395,000, that's roughly $9,085/year ($757/month).