Can I afford a house in Collingswood NJ?
Collingswood, New Jersey is a vibrant South Jersey town just minutes from Philadelphia, and it’s easy to see why it’s become such a sought-after place to live. With a quick, convenient commute into Center City, Collingswood appeals to those who want city access without giving up the comfort of a close-knit community. The town has also become a magnet for people drawn to a truly walkable lifestyle. From its lively downtown and well-loved dining scene to the green spaces of Cooper River Park and Knight Park right in the heart of town, Collingswood offers a way of life that extends well beyond the walls of your home.
If you’re thinking about buying a home and Collingswood is on your short list, one of the first questions you’re likely asking is: what does it actually cost to buy a home here?
How much does it cost to purchase a home in Collingswood, NJ?
In 2025 the average home sale price in Collingswood, NJ was $455,000.
If you hope to put 20% down = $91,000
Closing Costs - Budget around 3% of the Purchase Price = $13,500
You may also wish to budget for moving costs = $5,000
Total liquid funds you will need = $109,500
Now we will look at your monthly payment. A monthly housing payment includes your mortgage Principal payment, Interest payment, Property Taxes, and Homeowners Insurance.
Let’s break down the approximate monthly payment for a $455,000 home in Collingswood, 20% downpayment, 6.15% interest rate on a 30 year conventional mortgage:
Principal + Interest = $2,218
Property Taxes = $860
Homeowners Insurance = $100
TOTAL MONTLY PAYMENT = $3,178
How much income do you need to afford an average priced home in Collingswood, NJ?
There is a rule of thumb that says that you should not spend more than 28% of your gross income on housing. So if your monthly payment is $3,178 you would need a minimum household income of ($3,178 * 12) divided by 28% = $136,200
Minimum Annual Household Income = $136,200
If you’re considering buying or selling in Collingswood, New Jersey, the Emily Woods Group at Compass RE provides data-driven guidance with a human-first approach.
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