Heating Cost in New Jersey → Monmouth County
How much does it cost to heat a home in Monmouth County? Here's a breakdown by fuel type, using real local prices and 4,868 heating degree days for Monmouth County.
Estimates are for a typical 2,000 sq ft home. Use the calculator for your exact ZIP code.
↓ Oil prices in Monmouth County are down 8.8% over the past 6 weeks. View current oil prices.
| Fuel | Local Price | Cost/MMBTU | Annual Cost | Monthly (Heating) |
|---|---|---|---|---|
| Natural Gas Cheapest | $1.37/therm | $15 | $1,005 | $167 |
| Heat Pump | $0.23/kWh | $23 | $1,540 | $257 |
| Heating Oil | $4.65/gallon | $40 | $2,692 | $449 |
| Electric Baseboard | $0.23/kWh | $68 | $4,620 | $770 |
Cheapest option for this area
Natural Gas
$1,005/year estimated — saving $1,687/year vs heating oil
Oil price: $4.65/gal (local median). Electricity: $0.23/kWh (New Jersey avg). Gas: $1.37/therm (New Jersey avg). HDD: 4,868. Estimates for a 2,000 sq ft home.
Prices updated: 2026-06-03. Prices may differ from real-time calculator.
At local electricity rates ($0.23/kWh) and oil prices ($4.65/gal), switching from oil to a heat pump would pay for itself in approximately 9.5 years (based on average installation cost of $11,000). Federal tax credits and state rebates can reduce this significantly.
During the heating season (October–March), a typical 2,000 sq ft home in Monmouth County costs approximately:
If you're staying with oil heat, the biggest savings come from comparing local suppliers. The spread between cheapest and most expensive in Monmouth County can be $0.50–$1.00/gallon — that's $250–$500/year on the same fuel.
Median: $4.65/gal · 3 suppliers reporting prices
Compare Monmouth County Suppliers →