Cost of Living in Mount Laurel, NJ: What You Need to Know in 2026

Thinking about making Mount Laurel your home in 2026? You are not alone. As the largest town by transaction volume in Burlington County (177 sales in Q2-2026 alone), Mount Laurel attracts homebuyers from across South Jersey and the Philadelphia region. But what does it actually cost to live here?

This guide breaks down every major expense category: housing, property taxes, utilities, transportation, groceries, insurance, and more. No vague estimates, just real data from the latest public records and rate schedules.

Housing: The Biggest Piece of the Puzzle

Housing is the single largest cost for most households, and Mount Laurel offers some of the best value in Burlington County. The median home price in the 08054 zip code is $377,400 as of Q2-2026, based on Bright MLS data. That puts Mount Laurel well below nearby towns like Cherry Hill ($450,000+), Marlton ($430,000+), and Moorestown ($600,000+).

Mount Laurel offers a wide range of housing options: townhomes and condos from the mid-$200,000s, single-family starter homes from $300,000 to $400,000, move-up properties from $400,000 to $550,000, and premium homes above that. This variety makes it possible for first-time buyers, growing families, and downsizers to all find something that works within their budget.

For more detail on what different price ranges actually buy, check our real estate data page and neighborhood guide.

Property Taxes: The New Jersey Reality

New Jersey has the highest property taxes in the nation, and there is no sugarcoating that. But the numbers matter more than the reputation. For 2025, Mount Laurel's general tax rate is approximately 3.13% of assessed value (the official General Tax Rate of 3.129 per $100). The median effective property tax rate in Mount Laurel runs around 3.04%.

What does that mean in dollars? On a home assessed at the median price of $377,400, the annual property tax bill comes to roughly $11,500 to $12,000. Single-family homes in Mount Laurel typically see annual tax bills between $7,000 and $12,000 depending on the property's assessed value.

Here is the breakdown of where those tax dollars go: school taxes account for roughly 64% of the total, municipal taxes about 21%, and county taxes about 15%. Burlington County has the lowest county-level tax in New Jersey, with the county portion averaging just $1,270 per household. That is a small silver lining in an otherwise high-tax state.

As of July 2026, Mount Laurel was awaiting the certified 2026 tax rate from the State of New Jersey. Rates can shift modestly year to year, but the general range has been consistent.

Utility Costs: PSE&G, Water, and Sewer

Utility costs in Mount Laurel run close to national averages, which is good news for a Northeast state. Here is what a typical household pays:

• Electric (PSE&G): Approximately $175 to $183 per month for a typical household. PSE&G rates increased about 17% in February 2025, so the current average sits around $183/month for 650 kWh of usage. A larger home using 1,000 kWh/month would see roughly $259/month.
• Natural Gas (PSE&G): About $103 per month for a household averaging 100 therms of usage. PSE&G reduced gas rates by roughly 5% in late 2024, which helped offset the electric increase.
• Water (Mount Laurel Township MUA): A base charge of $13.16/month plus $3.90 per 1,000 gallons. A household using 5,000 gallons per quarter pays about $33/month.
• Sewer (Mount Laurel Township MUA): Approximately $31 to $44 per month, based on the annual residential cost of roughly $378.

Total monthly utilities for a typical Mount Laurel household: approximately $330 to $360. That includes electric, gas, water, and sewer. Your actual costs will vary based on home size, insulation, family size, and seasonal usage.

Transportation Costs: Commute, Gas, and Tolls

Mount Laurel's location is one of its biggest advantages. The drive to Center City Philadelphia covers about 17 miles via Route 38, typically taking 22 to 31 minutes depending on traffic. For commuters heading to New York City, the drive is roughly 90 minutes, and the NJ Transit River Line plus Northeast Corridor trains offer a rail alternative.

Fuel costs for a Philadelphia commute run about $2.62 one-way at current gas prices, or roughly $115 per month for a 5-day-a-week commuter. If you take NJ Transit Bus 317, the fare is about $5 one-way (45 to 57 minutes travel time). There is also a Park-and-Ride lot on Route 73 for carpoolers.

Most commuters heading to Philadelphia take back roads (Route 38, Route 70, or Route 73) rather than toll roads, so toll costs are minimal for the daily commute. For trips requiring the New Jersey Turnpike or the Walt Whitman Bridge (to South Philadelphia or the airport), expect tolls of $2 to $5 per crossing.

For a full commute breakdown, see our commute guide.

Grocery and Food Costs

Grocery prices in Mount Laurel are competitive. According to local cost-of-living data, food expenses here run about 5.8% below the national average, which is a nice surprise for many newcomers expecting everything in New Jersey to be expensive.

Typical prices at local supermarkets: a gallon of milk around $5.50, a loaf of bread about $2.74, a dozen eggs around $3.98, chicken breast at $6.64 per kilogram, and fresh produce like apples at $5.91 per kilogram. Mount Laurel has several major grocery options including ShopRite, Wegmans (in nearby Cherry Hill), and ACME, giving you plenty of choice for price comparison.

A single adult spends roughly $377 per month on food, while a family of four can expect about $1,225 per month. Dining out in Mount Laurel and the surrounding area is affordable too, with casual dinner prices running $15 to $25 per person at most local restaurants.

Insurance Costs

New Jersey auto insurance rates are above the national average, but Burlington County fares better than many parts of the state. Average annual premiums in Burlington County by vehicle type:

• Sedan: $836/year
• SUV: $665/year
• Truck: $782/year
• Hybrid: $789/year

Homeowners insurance in New Jersey runs about $1,200 to $1,800 per year for a typical single-family home, depending on the coverage level, deductible, and home value. Bundling auto and home with the same carrier typically saves 10% to 15% on both policies.

How Mount Laurel Compares to Neighboring Towns

Location within Burlington County makes a significant difference to your budget. Here is how Mount Laurel stacks up against the three most common comparison towns:

The headline takeaway: Mount Laurel is the most affordable option in this group, and by a wide margin over Moorestown. All four towns share similar costs for groceries, healthcare, and transportation, so the major differentiator is housing. Cherry Hill offers more dining and shopping options but at a higher home price premium. Moorestown delivers top-tier schools and historic charm at luxury pricing. Marlton gives you a similar suburban feel to Mount Laurel at a slightly higher entry point.

For most buyers, Mount Laurel represents the strongest value proposition: solid schools, convenient location, and the most affordable home prices in the immediate area.

Monthly Budget Snapshot

Here is what a typical Mount Laurel household budget looks like for a family of four with a mortgage on a median-priced home:

This excludes discretionary spending like dining out, entertainment, travel, and savings. Your numbers will vary based on down payment size, interest rate, home age, and lifestyle.

Frequently Asked Questions

The Bottom Line

Mount Laurel offers a suburban lifestyle at a cost that is about 5% above the national average. That is a solid deal when you factor in the quality of the schools (rated B+), the 22-minute commute to Philadelphia, and the diverse range of housing options from townhomes to colonial estates.

The biggest expense is property tax, which is a fact of life anywhere in New Jersey. But Mount Laurel's lower home prices partially offset that compared to neighboring towns. For most buyers, the trade-off is clear: you get more house for your dollar here than in Moorestown, Cherry Hill, or Marlton, while still enjoying the same regional amenities and school quality.

If you are considering a move to Mount Laurel, the best first step is understanding your budget across every cost category. I offer free, no-obligation consultations that include a personalized cost analysis, neighborhood recommendations, and a market overview tailored to your needs.