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.
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