Today, we’re diving into a topic that’s on many people’s minds: Is New Jersey Affordable?
The New Jersey Lifestyle
New Jersey, the Garden State, has so much to offer. We’ve got bustling cities, charming suburbs, Wonderful towns, and beautiful beaches, all within a stone’s throw of the Big Apple. The quality of life here is top-notch, with excellent schools, cultural attractions, and a real sense of community. But, Today, we’re diving into a topic that’s on many people’s minds: Is New Jersey Affordable?
Cost of Living
Let’s talk numbers. New Jersey does have a reputation for being on the pricier side. According to recent data, the cost of living here is about 22% higher than the national average. But here’s the thing – it’s not all about the numbers. In fact, for so many years we have all been hearing about how high the cost of living is in New Jersey, but while doing some research this is what I found.
The three most expensive states to live in based on every article out there are Hawaii, Massachusetts, and California. Those answers were firm across the board. Now here is the interesting part. New Jersey Seems to have blended right into the list of the top 10 most expensive states to live in. WHAT? Remember when the Garden State was in the top 3 Most expensive if not the most expensive? Well, not anymore. So what are the top 10 most expensive states to live in?
Hawaii
Massachusetts
California
New York
New Jersey
Alaska
Maryland
Washington
Connecticut
Washington
Oregon
Okay, but let’s get back to New Jersey and the true cost of living here.
Housing Market
Our housing market is diverse. You can find everything from cozy condos to stunning estates, with prices that range from affordable to, well, luxurious. The median home price in Monmouth County hovers around $400,000, but of course, it varies by town. There are condos and townhouses that are priced in the low $ 300,000 it just depends on where and what you are looking.
Property Taxes
Now, property taxes, do tend to be higher here. In fact, New Jersey has some of the highest property taxes in the country. But remember, property taxes vary by town, so you can find areas with more manageable tax rates. And I always say, you get what you pay for. Although I do think our taxes here are absurd, It’s just one thing I try not to focus on and I spend time focusing on all the good qualities of living in the state.
Income and Employment
On the flip side, we’ve got higher average incomes. New Jersey residents tend to earn more than the national average, which can help balance out the cost of living. Plus, we’ve got a pretty strong job market with opportunities in various industries. Yes Yes, I know some people think it doesn’t matter if you earn more if the cost of living is high, but let’s be honest, If you want to live in the Garden State having a high income is a major plus.
Quality of Life
Let’s talk about the quality of life. I think it’s fantastic. We have beautiful parks, gorgeous beaches along the Jersey Shore, and a thriving arts and culture scene. The sense of community here is unbeatable, and I’ve seen countless families thrive in our neighborhoods. Let’s not forget to mention the four seasons. I personally LOVE that here in NJ we get to experience winter spring summer and fall.
My Advice
So, what’s my advice if you want to live in the Garden State? First, budget wisely. Know your financial limits and stick to them. Second, explore different towns within New Jersey. Each one has its own unique charm and cost of living. And of course, reach out to me for personalized advice on finding the perfect spot to call home.
In conclusion, Today, we’re diving into a topic that’s on many people’s minds: Is New Jersey Affordable? Well, it’s a balancing act, but for many, including myself, the lifestyle, opportunities, and sense of community make it absolutely worth it. If you have any questions or want to explore real estate options in Monmouth County, don’t hesitate to get in touch. And hey, if you found this video helpful, give it a thumbs up, share it with your friends, and subscribe for more insights into the wonderful world of New Jersey living. Thanks for tuning in, and I’ll catch you in the next video!
Would you like some more information about life here in the Garden State? If so let’s chat. I’d love to connect! I’m a HUGE coffee lover, are you? Let’s meet for a cup of coffee. My treat and we can talk!
