The shooting took place along the 1200 block of Browning Road near Norris Street shortly after 6:00 p.m.
Police were called to the home for the report of a man wielding a knife.
Initial reports say the man, believed to have been mentally unstable, lunged at police with the knife, resulting in police shooting him at least twice.
The man was rushed to Cooper University Hospital where he was pronounced dead.
Two officers suffered injuries while scuffling with family members of the man. Those injuries are non-life-threatening.
They were taken to nearby Our Lady of Lourdes Hospital for treatment.