Cheapest Places To Live In New Jersey in 2023
Go Back To Previous PageLiving in New Jersey provides a peaceful suburban lifestyle and an easy commute to New York City or Philadelphia. However, it comes with a high cost of
living as it is one of the most expensive states in the United States. Despite this, you can find affordable areas to live in by conducting thorough research and exploring various options in North Jersey and South Jersey. Let’s take a closer look at some of the most budget-friendly places to reside in NJ. We will list the Cheapest Places To Live In New Jersey.
The Cheapest Place To Live In New Jersey: Gloucester City
Did you know Gloucester City in New Jersey is the most affordable place to live, with a median home value of slightly over $125,000 as of 2022? This charming city is in Camden County and boasts a population of around 11,500 residents.
Gloucester City is conveniently located across the Delaware River from Philadelphia, making it an ideal location for those who want to enjoy city life. The town has a cozy feel and is perfect for families. It’s also worth mentioning that there is a high concentration of Irish-American residents. It is one of the largest cities in New Jersey.
Gloucester City, located in New Jersey, is affordable, with a median home value of $125,800 and a median rent of under $1,200. The community is tightly knit, and there are multiple public parks and walking spaces for residents to enjoy. This location is perfect for families or young professionals working in Philadelphia, across the river.
Philipsburg
People know the city center, located in Warren County, New Jersey, for being affordable. Situated along the Delaware River, it is directly across from Easton, Pennsylvania, which is accessible via the Northampton Street Bridge.
Philipsburg’s advantageous location, situated just a 30-minute drive from the Pocono Mountains and positioned midway between New York and Philadelphia, makes it an appealing destination.
Additionally, Philipsburg has a rich historical background.
Philipsburg, a town once a central transportation hub, still has the Norfolk Southern Railway. This town is perfect for growing families as it offers excellent value, with a median rent of under $ 1,000 and a median home value of $136,800.
Oaklyn
Oaklyn, located in Camden County, New Jersey, is a tranquil borough frequently recognized as one of the top places to reside in the state. Situated only 20 minutes from Philadelphia, it is a serene suburb with a population of under 5000.
Living in Oaklyn is fantastic due to its outstanding public schools and reasonable cost of living. The median home value is as low as $186,300, and the median Rent is below $1000. Oaklyn also has a thriving economy, with a high employment rate and business growth rate compared to the cost of living.
Absecon
The median Rent in Absecon, an Atlantic County, New Jersey city, is $1,402. Meanwhile, the median household income is $70,393. Absecon is a tranquil small town on the Absecon Bay outside Atlantic City.
It is a close-knit community that offers breathtaking waterfront views. The nearby bay provides ample opportunities for activities, while the Absecon Wildlife Management Area spans 3700 acres of protected marshland, ideal for fishing.
Various activities are available in this area, including fishing, hiking, and bird watching. Additionally, Atlantic City is nearby for more entertainment options. The median home price is under $200,000.
Trenton
Trenton, the capital of the Garden State and the county seat of Mercer County, offers a reasonable cost of living and numerous attractions for families and retirees. The median home value in Trenton is $95,800, the median Rent is $1,026, and the median household income is $35,402.
With its proud past and easy access to New York City and Philadelphia, Trenton is an attractive destination for young families.
For young families, Trenton provides outstanding public schools and parks. The cost of living in Trenton is 26% lower than the average in New Jersey, and housing options are some of the most affordable in the state.
Despite these benefits, Trenton still faces issues such as crime and a lack of employment opportunities.
Pitman
Please research before visiting Pitman, as it has much to offer. This quaint city boasts a charming downtown area with excellent local shops and restaurants. Additionally, Pitman hosts frequent community events, including crafts fairs and outdoor concerts. For outdoor enthusiasts, there are various parks and golf courses to explore in the area, including Alcyon Lake.
Many community events are happening in Pitman, including crafts fairs and outdoor concerts. In addition, the area has numerous parks and golf courses, such as Alcyon Lake, providing plenty of opportunities for outdoor recreation.
Clayton
Clayton is a township in Gloucester County with slightly more than 8,000 people. The median home value in Clayton is $197,600, and the median Rent is $1,033. The median household income is $69,883. Additionally, Clayton has a low crime rate, which makes it a secure and comfortable place to reside.
The town has a population of 883,000 and is a safe place to live, with good public schools and an easy commute to Philadelphia. Approximately one-third of the borough comprises municipal and state parks, including the Glassboro Wildlife Ma.
Rahway in West Jersey
Rahway is a city located in the southern region of Union County, situated about 21.6 miles southwest of Manhattan and 5 miles west of Staten Island. It is renowned as a popular commuter destination for individuals working in New York, as it offers a tranquil suburban environment while providing easy access to urban amenities.
The city’s location on the Rahway River, which flows into the Hudson River, enabled it to flourish as an industrial and artistic hub with a vibrant arts community.
Rahway is approximately 21.6 miles from Clayton, towards the southwest of Manhattan, and 5 miles west of Staten Island. The city is a popular choice for commuters working in New York, as it offers a suburban environment with convenient access to urban facilities. The Rahway River runs through the city, providing a scenic waterway.
Hightstown
This town has developed into a bustling center for industry and the arts, with a thriving community of artists. While the median home values are slightly higher than other cities on this list, they are still much lower than the statewide average.
People know Hightstown for being one of the most affordable suburbs of New York City, catering to a diverse group of residents, such as families and working professionals. The median home value in Hightstown is $282,700, the median Rent is $1,458, and the median household income is $80,410. This borough is in Mercer County, Central New Jersey, and is approximately 30 minutes away from New York City.
Toms River
Toms River is a city in New Jersey, an hour’s drive from New York and Philadelphia. It boasts a thriving downtown area with many great restaurants, shops, and local businesses.
Families can enjoy the numerous parks, golf courses, and recreation areas, while children can attend excellent schools. Toms River may have much to offer, but it remains affordable, with an average home value below $300,000 and a median rent under $ 1,500. This makes it an appealing choice for anyone seeking a fantastic place to live in New Jersey.
Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.
