Closing Costs for New Jersey (2026)
New Jersey (NJ) Key Facts
Average Closing Cost Rate
3.8%
Estimated Closing Costs ( Median Home)
$17,860
Attorney Required at Closing
Yes
Median Home Price
$470,000
Transfer Tax
Varies by county
How This Calculator Works in New Jersey
This closing costs calculator estimates the total amount you will need at closing when buying a home in New Jersey. It uses the state's average closing cost rate of 3.8% as a baseline and lets you adjust for your specific purchase price and situation. Understanding these costs in advance helps you budget effectively and avoid surprises at the closing table.
New Jersey Overview
Closing costs in New Jersey average about 3.8% of the home's purchase price—roughly $17,860 on the median home of $470,000. New Jersey requires an attorney at closing, adding legal oversight and cost to the process. Transfer taxes in New Jersey are: Realty transfer fee: 1% for properties under $350K, tiered up to $1M+; mansion tax of 1% on sales over $1M.
How New Jersey Compares
New Jersey's average closing cost rate of 3.8% is in the middle range nationally. Neighboring New York averages 5%, while Pennsylvania averages 3.5%. States with attorney requirements and higher transfer taxes tend to have elevated closing costs overall.
| State | Top Rate | Notes |
|---|---|---|
| New York | 5% | Average closing costs are 5% of the home price, approximately $21,000 on the median home. Attorney required at closing. |
| Pennsylvania | 3.5% | Average closing costs are 3.5% of the home price, approximately $9,625 on the median home. Attorney required at closing. |
| Delaware | 4.5% | Average closing costs are 4.5% of the home price, approximately $15,300 on the median home. Attorney required at closing. |
Closing costs in New Jersey average 3.8% of the home price, or about $17,860 on the median-priced home of $470,000. The national average for closing costs is typically 2-5% of the purchase price. New Jersey falls in the mid-range nationally.
Tips for New Jersey Residents
- 1Budget approximately 3.8% of the purchase price for closing costs in New Jersey, which comes to about $17,860 on the median home of $470,000. This is in addition to your down payment and moving expenses.
- 2New Jersey requires an attorney at closing, adding legal oversight and cost to the process. Attorney fees typically run $500-$2,000 in New Jersey depending on the complexity of the deal.
- 3Transfer taxes in New Jersey: Realty transfer fee: 1% for properties under $350K, tiered up to $1M+; mansion tax of 1% on sales over $1M. Make sure you know who is customarily responsible (buyer or seller) in your county, as local practice varies.
- 4Shop at least three lenders for your Loan Estimate in New Jersey. Origination fees, discount points, and third-party charges can differ by $1,000 or more between lenders on the same loan amount.
- 5Ask about first-time homebuyer programs in New Jersey that may offer closing cost assistance, grants, or below-market interest rates. Many state and county housing finance agencies provide such programs.
Frequently Asked Questions
on LegalDraft