Salem County, New Jersey: What It Costs to Buy a Home
The median home in Salem County is worth $223,000, property taxes on it run about $6,757 a year (3.03%), the FHA loan limit is $630,200, and closing on it means about $1,114 in transfer tax plus $1,073 in title insurance. Each number below opens its own page with the source and a calculator.
| Median home value | $223,000 | Title insurance at this price → |
|---|---|---|
| Property taxes (median paid) | $6,757 a year, 3.03% of value | Property tax page → |
| FHA loan limit (1 unit) | $630,200 | Loan limits page → |
| Conforming loan limit (1 unit) | $832,750 | Loan limits page → |
| Transfer tax on the median home | $1,114 | New Jersey transfer tax page → |
| Title insurance on the median home | $1,048 owner's + $25 lender's | Title insurance page → |
| Closing costs from these items | $2,187 | Closing costs page → |
| Area median income (HUD, family of 4) | $122,700; low-income limit $98,150 | Income limits page → |
Frequently asked questions
How much do homes cost in Salem County?
The median owner-occupied home in Salem County is valued at $223,000, per U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units).
How much are property taxes in Salem County?
The median Salem County homeowner pays $6,757 a year in real estate taxes, about 3.03% of the median home value ($6,886 for homes with a mortgage), per the Census Bureau's American Community Survey.
What is the FHA loan limit in Salem County?
$630,200 for a one-unit home in 2026 (a high-cost limit above the national floor), per HUD; the conforming limit for Fannie Mae and Freddie Mac loans is $832,750, per FHFA.
What does it cost to close on a home in Salem County?
On the $223,000 median home: transfer tax $1,114, title insurance $1,073 for both policies, about $2,187 for those items before lender fees, prepaid taxes and insurance.
What is the area median income in Salem County?
HUD's FY 2026 median family income for Salem County (Philadelphia-Camden-Wilmington, PA-NJ-DE-MD MSA) is $122,700. A family of four counts as low income below $98,150 under HUD's 80% tier (adjusted for local housing costs, so it can sit above 80% of the median), which is the line many first-time buyer assistance programs use.
Nearby New Jersey counties
- Morris County $557,000
- Ocean County $366,600
- Passaic County $439,400
- Somerset County $523,900
- Sussex County $342,800
- Union County $488,800
Sources
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25077 (median value of owner-occupied housing units)
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25103 (median real estate taxes paid)
- HUD, FHA forward mortgage loan limits for calendar year 2026 (CHUMS county limits file, Mortgagee Letter 2025-23)
- FHFA, conforming loan limits for mortgages acquired in calendar year 2026, by county
Figures are computed from the documents above and rounded to the dollar. All sources.
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General information, not financial, tax or legal advice. Figures are medians and schedule computations, not quotes.
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