One of the only downsides of moving to New Jersey is the high cost of living. It costs about 20% more than the national average to live there. But if you’re on a budget, you can relocate to a more affordable part of the Garden State to save money. Here are ten of the best, cheapest places to live in New Jersey.
Is it expensive to live in New Jersey?
New Jersey is a notoriously expensive state to live in. It’s home to two of America’s wealthiest counties, Hunterdon County and Somerset County, and they’re not the only New Jersey locales with high home prices. According to NeighborhoodScout, the median home value in New Jersey is $418,500 in March 2022.
What’s the cheapest place to live in New Jersey?
Most Affordable Places to Live in New Jersey
- Hightstown.
- New Brunswick.
- Phillipsburg.
- Pompton Lakes.
- Rahway.
- Toms River.
Where is the cheapest and safest place to live in New Jersey?
And here are the 10 most affordable places to live in New Jersey, according to SmartAsset:
- Pomona (Galloway Township), Atlantic County.
- Gloucester City, Camden County.
- Twin Rivers (East Windsor Township), Mercer County.
- Stratford, Camden County.
- Ramtown (Howell Township), Monmouth County.
- Berlin Borough, Camden County.
Where in NJ is the cheapest to buy a house?
What N.J. towns are the most affordable to live in?
- Clayton, Gloucester County. Average closing costs: $3,493.
- Beachwood, Ocean County.
- Gloucester City, Camden County.
- Franklin Park, Somerset County.
- Hopatcong, Sussex County.
- Palmyra, Burlington County.
- Audubon, Camden County.
- Pitman, Gloucester County.
Is moving to New Jersey a good idea?
Diverse neighborhoods, low crime rates, good schools, and top-notch infrastructure contribute to making the towns a safe bet to live in New Jersey. New Jersey is the most urbanized state in the US, where almost every part is urban.
What salary do you need to live in NJ?
Typical Expenses
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 0 Children | |
| Required annual income after taxes | $34,445 | $51,443 |
| Annual taxes | $8,330 | $12,442 |
| Required annual income before taxes | $42,775 | $63,885 |
Is NJ cheaper than NY?
NYC is the most expensive city in America so it should come as no surprise that New Jersey offers a more affordable cost of living. Newark and Jersey City are both considerably cheaper than NYC. The median home price in Manhattan is $965,00 while the median home price in Jersey City is $337,000 and $210,000 in Newark.
What is the cheapest place to live in the US?
Wichita, KS
At $500 median rent per month and a median home price of $147,700, Wichita is the cheapest place to live in America.
How affordable is NJ?
It costs about 20% more than the national average to live there. But if you’re on a budget, you can relocate to a more affordable part of the Garden State to save money. Here are ten of the best, cheapest places to live in New Jersey.
What is the cheapest and nicest place to live?
Here are the top 10 most affordable cities to live in the U.S., according to the Council for Community and Economic Research’s Cost of Living report.
- Cedar Park, Texas.
- Midland, Texas.
- Ogden, Utah.
- Raleigh, North Carolina.
- Provo, Utah.
- Des Moines, Iowa.
- Austin, Texas.
- Minneapolis, Minnesota.
What is New Jersey like to live in?
New Jersey is consistently named among the safest, healthiest and best places to live in the nation. Our diverse neighborhoods with exceptional school districts make New Jersey an ideal location for families. That’s why we’re ranked the #1 state to raise children in the U.S.
Is it cheaper to live in Maryland or New Jersey?
New Jersey is 3.2% more expensive than Maryland.
How much does a house cost in NJ?
The average price of a single family home in New Jersey has increased almost $100,000 in the past year, according to data from New Jersey Realtors. The average home price for the first quarter of 2021 was $500,628 or 24% more than the $403,785 for the first quarter of 2020, the data shows.
What town in NJ has the lowest taxes?
Here are the 30 municipalities with the lowest tax bills in New Jersey:
- Washington Township (Burlington County)
- Commercial.
- Audubon Park.
- Teterboro.
- Lower Alloways Creek.
- Woodbine.
- Camden.
- * Walpack.
Is cost of living higher in New York or New Jersey?
The cost of living in Newark, NJ is -35.6% lower than in New York, NY. You would have to earn a salary of $38,635 to maintain your current standard of living. Employers in Newark, NJ typically pay -5.1% less than employers in New York, NY.
What are the negatives of living in New Jersey?
Disadvantages of Living In New Jersey
- High Taxes. The garden state is known for imposing higher taxes than any other state in the region.
- Poor Weather for 3 months.
- High Cost of Living.
- 1% Mansion Tax.
What are the benefits of living in NJ?
Top 10 Reasons to Move to New Jersey
- There’s more space.
- It’s quieter.
- Our towns are family-friendly.
- Our schools are some of the best in the nation.
- It’s easy to get out and enjoy nature.
- There’s plenty of culture.
- We have amazing restaurants and bars.
- You get tax benefits.
What do I need to know before moving to New Jersey?
Four Things You Should Know Before Moving to New Jersey
- New Jersey Is Home to Inclement Weather. New Jersey can have scorching summers with temperatures ranging from 90 degrees to 105 degrees Fahrenheit.
- You Will Not Be Able to Pump Your Own Gas.
- You Can Bring Your Own Bottle.
- No Left Turns.
What is middle class in NJ?
The overall average in New Jersey for what is considered to be middle class income for a family of four is between $60,000 and $177,000 a year.
What is the average hourly wage in NJ?
$24
Hourly Rate Salary in New Jersey
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $83,037 | $40 |
| 75th Percentile | $51,022 | $25 |
| Average | $49,262 | $24 |
| 25th Percentile | $29,513 | $14 |