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Read on to learn how we crunched the numbers and to see how your favorite city in New Jersey stacked up on the affordability ranking. New Jersey is also close to major urban centers, especially New York City. If you want to work and spend your weekends enjoying the New York City high-life, but don’t want to spend a killing on rent, then New Jersey will soon be called your home.
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
So we used that cost of living index in order to rank all of the 185 places in New Jersey that have more than 5,000 people. What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city. A south Jersey borough of 8,688, Clayton ranks as the state’s first least expensive place to call home. There’s plenty to keep you occupied on a budget in Clayton, like Scotland Run Park and the continuous stream community-organized events.
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.
PORCHTOWN ROAD, Franklinville, NJ 08322
When you click through real estate links on our site, we earn an affiliate commission. Create an account to save and share your favorite homes and searches. Cheap apartments tend to be more competitive because no one wants to spend more than they have to on rent. Do your homework, prepare all the paperwork before going to the showings and be sure to make a professional first impression. We use data, analytics, and a sense of humor to determine quality of life for places across the nation.
Buying a home in Barrington will set you back $189,400, but residents also earn a median income of $78,708, so you’ll be able to pay off that mortgage before the new-house smell has time to wear off. If you’re into fishing, you can cut down on your entertainment and grocery budget by casting your line out at the nearby Haddon Lake. We looked at several factors to create our top ten list, which included income to rent/house price ratios. This way, you will know where the cost of living is the lowest so your income will go the farthest. For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000.
Nearby Real Estate
If you're looking for a home in New Jersey within a certain budget, we have a fantastic range of cheap homes for sale. Let us find you a cheap home in New Jersey, and you'll benefit from a smaller down payment and less expensive monthly installments. Despite having some of the most expensive housing on this list, Berlin ranks as the seventh cheapest city in New Jersey. The median rent in Berlin is $1,313, which is the highest you’ll see on this list. However, that’s still about 70% cheaper than the average rent in New Jersey.
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.
You may be interested in single family homes, condos, townhomes, farms, land, mobile homes, or new construction homes for sale. You can also find 55+ community and price reduced homes for sale with open houses or virtual tours. Buying a cheap old house gives you plenty of financial freedom, and we can help you find one in New Jersey. Old houses are brimming with character, retaining the charm that the original features bring. The structures are generally very sound, as older homes tend to be made from tough, robust materials that are no longer used. And the grounds are often more extensive, as older houses were typically built on more land.
The median rent in Clayton is $963 – 22% cheaper than the New Jersey average. Searching cheap houses for sale in Jersey Shore, NJ has never been easier on PropertyShark! Searching cheap houses for sale in New Jersey has never been easier on PropertyShark! Audubon is another Philadelphia suburb that won’t break the wallet, let alone the bank.
We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, pleaselet us know. Clayton also has incredibly safe streets, which has contributed to a significant increase in property values in recent years.
Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2022 Bright MLS, Inc. (/info/mls-disclaimers/#mls_5632) The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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