Table of Content
- The 10 Cheapest Places To Live In New Jersey For 2022
- LAKEHURST ROAD, Browns Mills, NJ 08015
- BOSTON AVENUE, Egg Harbor Township, NJ 08234
- What county in New Jersey has the lowest cost of living?
- Manito Ave, Parsippany-Troy Hills, NJ 07034
- New York Ave, Lake Hopatcong, NJ 07849
- DICKINSON STREET, Trenton, NJ 08638
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The average home value in Camden is $82,500, the lowest in the state. The average home value in New Jersey is $343,500, almost 4.2 times higher than Camden. The cost of living in New Jersey is 25.5% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in New Jersey is $112,597 vs the national average for a family of four with two working parents of $89,744. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS.
The 10 Cheapest Places To Live In New Jersey For 2022
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LAKEHURST ROAD, Browns Mills, NJ 08015
If you want to live the high life in New Jersey without spending big bucks, there’s few better than Stratford. The Camden County borough has the fifth lowest ratio of home price to income in the state, so you won’t feel like you’re living in one of the most expensive states in America if you move to Stratford. At $180,900, Stratford has one of the lowest median home prices on this list, and Stratford residents earn a median income of $78,309, so there’s no problem paying the mortgage off. Stratford also scored a 8/10 or higher on almost all of our Snackability scores, so it’s an all-around great place to call home. Searching cheap houses for sale in Morris County, NJ has never been easier on PropertyShark! Searching cheap houses for sale in Gloucester County, NJ has never been easier on PropertyShark!
Let us find you a cheap home in Cumberland County, NJ, and you'll benefit from a smaller down payment and less expensive monthly installments. You could even pay the full balance of your mortgage off sooner. And with fewer outgoings, you might have more cash to pay for renovations or improvements, making your house feel more like ‘your own’. Regardless of your motives, a cheaper home gives you more flexibility with your budget, and it’s a great way to step onto the housing market.
BOSTON AVENUE, Egg Harbor Township, NJ 08234
With a median rent of $1,094 and a median home price of $223,200, housing in Audubon is slightly pricier than in Stratford. However, Audubon residents also earn slightly more, with a median income of $90,335. That gives Audubon the 12th best ratio of home price to income in New Jersey. If you’re trying to stretch your cash even further, hanging out at Cooper River Park won’t cost you a thing. Another Camden County suburb of Philadelphia, Barrington ranks as the fourth cheapest place to live in New Jersey.
The county in New Jersey with the lowest cost of living is Salem County. The average living wage in Salem County is $100,920 according to MIT data. Salem County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to New Jersey as a whole. Childcare costs $18,832 a year in Salem County for two children compared to the New Jersey average of $24,713. Housing costs, defined as a blend of the average rent and average mortgage payment, are $15,120 per year in Salem County compared to $19,486 on average in New Jersey. When it comes to cost of living, it’s hard to beat Pine Hill.
The overall cost of living in Clayton is much cheaper than most of New Jersey, especially in terms of housing. If you wish to report an issue or seek an accommodation, please let us know. If you’re looking at the cost of living numbers in New Jersey, this is an accurate list of the most affordable places to live in New Jersey for 2022. Other dollar-saving cities in New Jersey include Stratford and Barrington. All in all, these cities on our list have one thing in common, which is their ability to give you great savings on rent.
Yet another Camden County suburb of Philadelphia, Runnemede is the sixth most affordable place in New Jersey. At a median price of $163,000, Runnemede has the second cheapest homes you’ll see on this list. Runnemede residents earn a median income of $71,495, giving the borough the fourth best ratio of home price to income in the state. Having a picnic and watching the sun set over Big Timber Creek at Runnemede Lake Park is an always-accessible cheap option for a date night. The median home price in Clayton is $208,100, which is a piece of cake for residents earning a median household income of $92,824.
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes . Every state has affordable areas, but New Jersey is one that offers some substantially cheaper cities than some of the surrounding states, ahem, New York. Use our cost of living calculators to assess how much you’ll need to earn to live comfortably in key cities. Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.
The overall cost of living is 20% lower than the state average and housing prices are about as low as you’ll find in the Garden State. Pine Hill has the eighth cheapest homes and 12th cheapest rent anywhere in new jersey. The median home price in Pine Hill is $135,000, while you can find a place to rent for just $1,014.
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