Short answer: yes. Many buyers purchase a two- to four-unit property, live in one unit and rent out the others. This is often called "house hacking." Because you live there, you may qualify for owner-occupant financing, which can mean a much smaller down payment than an investor loan. Here is how it works in South Jersey.

Can I buy a duplex and live in one side?

Yes. A duplex, triplex or fourplex that you will live in is generally treated as an owner-occupied purchase. You live in one unit, and the rent from the other unit or units can help with your monthly costs. Whether and how much rent counts toward qualifying for the loan is up to your lender.

How much down payment do I need for a 2-4 unit home?

An FHA loan on a two- to four-unit property can require as little as about 3.5% down for a qualified buyer, with credit score and other requirements set by the lender. Typically you must move in within about 60 days of closing and plan to live there for at least a year. Conventional and other programs exist too. Talk to a lender early, because terms change and every buyer's situation is different. I am not a lender, so please treat these as general guidelines and not a loan approval.

How many multi-family homes are for sale in South Jersey?

In late October 2026, about 40 multi-family properties were listed at $350,000 or less across Camden, Burlington and Gloucester Counties, ranging from roughly $165,000 to $350,000. Towns with listings in my search included Woodbury, Paulsboro, Mount Holly, Gloucester City, Williamstown, Beverly, Clementon and Burlington. Inventory changes daily, so use the live search on my homes under $350,000 page.

What should I know before renting out a unit in New Jersey?

  • Landlord registration. New Jersey requires landlords to register, and an unregistered landlord can run into trouble with evictions. Check the current rules with your town and the state.
  • Lead-based paint. Rental units in homes built before 1978 generally need lead-based paint inspections, with some exemptions. Ask your attorney or the town what applies.
  • Local rules. Many towns add their own rental licensing, inspection and certificate of occupancy requirements.
  • Taxes and insurance. Talk to a tax professional and an insurance agent about rental income, deductions and landlord coverage.

This is general information and not legal or tax advice. Please consult an attorney and a tax professional.

How do I compare the numbers?

Look at the full picture, not only the price: current rents, who pays utilities, property taxes, insurance, repairs, vacancy and the condition of each unit. A property that looks cheap can cost more to run than it brings in. I can help you pull comparable rents and sales, and I can pair you with lenders who handle 2-4 unit loans.

Next steps

If you are an investor rather than a live-in buyer, see my page on investment properties under $350,000. If this is your first purchase, start with my first-time buyer guide. I'm Jerry Mac with Keller Williams Realty, with 23 years helping South Jersey buyers. Call or text 856-220-1874 or visit www.southjerseyrealty.com.

Market figures are from the MLS search on southjerseyrealty.com as of late October 2026, rounded and not guaranteed. Financing terms vary by lender.