New Jersey · New York-Newark-Jersey City, NY-NJ metro area

Buying a home in Toms River, New Jersey

In Toms River, the median value of owner-occupied homes is $403,600, Ocean County's effective property tax rate is 1.65%, a purchase mortgage carried a median $6,753 in total loan costs in 2025, and median gross rent is $1,731 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Toms River home costs, fact by fact

About Toms River

Toms River is an unincorporated community in Ocean County, within the New York-Newark-Jersey City, NY-NJ metro area, the 1st largest in the country. Owner-occupied homes account for 81.9% of the total. The county's effective property tax rate (median tax as a share of home value) is 1.65%, and HUD's Fair Market Rent for a two-bedroom is $2,283.

Reading the Toms River figures

Toms River's owner-estimated median value of $403,600 is below the New Jersey statewide median of $496,000. Clifton reports a higher figure of $461,900, Elizabeth stands at $449,300, and Newark is lower, with $373,700. With 81.9% of homes owner-occupied, Toms River stands apart from Jersey City's 27.9% and Newark's 24.4%. Ocean County's effective property tax rate of 1.65% translates into a median bill of $6,562 a year. Renters see a median gross rent of $1,731, set against HUD's Fair Market Rent for a mid-sized apartment of $2,283 for the Monmouth-Ocean area, a benchmark and not a market median. Loan costs in the county had a 2025 median of $6,753, within a central band of $5,214 to $10,512.

Calculate for New Jersey

If you buy

New Jersey state transfer tax

Realty Transfer Fee (plus Graduated Percent Fee above $1,000,000): Over $350,000: $2.90 per $500 on the first $150,000, $4.25 on $150,000 to $200,000, $4.80 on $200,000 to $550,000, $5.30 on $550,000 to $850,000, $5.80 on $850,000 to $1,000,000, $6.05 above $1,000,000; plus 1% to 3.5% of total price above $1,000,000.

Price$496,000
State transfer taxnot computed
Who paysThe seller

Default price: the New Jersey median value of owner-occupied homes, $496,000 (Census ACS 2024). Not computed: Banded rate per $500 of consideration. Total consideration over $350,000: $2.90 on the first $150,000, $4.25 on $150,000-$200,000, $4.80 on $200,000-$550,000, $5.30 on $550,000-$850,000, $5.80 on $850,000-$1,000,000, $6.05 above $1,000,000. At or below $350,000 a lower schedule applies: $2.00, $3.35 and $3.90 per $500 in the bands up to $150,000, $200,000 and $350,000. Above $1,000,000 total, add a Graduated Percent Fee on the whole price: 1% to $2,000,000; 2% over $2,000,000 to $2,500,000; 2.5% over $2,500,000 to $3,000,000; 3% over $3,000,000 to $3,500,000; 3.5% over $3,500,000. Who pays: The seller owes the Realty Transfer Fee. For deeds submitted on or after July 10, 2025 the Graduated Percent Fee is also imposed on the seller (before that the 1% fee was buyer-paid). Not included: county and city transfer taxes, recording fees, title insurance and lender charges. New Jersey transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: New Jersey state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Toms River

How much is property tax in Toms River?

Homeowners in Ocean County pay a median $6,562 a year in property tax, 1.65% of the county median home value of $398,400 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Toms River?

Home-purchase mortgages in Ocean County carried median total loan costs of $6,753 in 2025; half of the 5,287 loans fell between $5,214 and $10,512 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Toms River?

New Jersey charges a Realty Transfer Fee on every deed, paid by the seller, which is $4,655 on a $550,000 sale. For deeds submitted on or after July 10, 2025, a seller-paid Graduated Percent Fee of 1% to 3.5% of the entire price also applies above $1 million.

Is it cheaper to rent or buy in Toms River?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Toms River ($403,600) equals 19.4 years of the median gross rent ($1,731 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

New Jersey rules that apply in Toms River

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Sources

New Jersey · All states · Federal guides