New Jerseyans paid the highest monthly mortgage amount in the nation as the four-year decline in home values reached 17 percent, NJ Spotlight reported.
In 2008, the median value of a home in New Jersey was $377,000. By 2012, the median value was $312,000, according to the report. New Jerseyans paid a median monthly mortgage payment of $2,342--nearly a $1,000 more than the national median of $1,460.
NJ Spotlight noted that one estimate put the number of New Jersey households spending a third or more of their income on housing cost at a staggering 51 percent.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
We’ve removed the ability to reply as we work to make improvements. Learn more here
