AreaVibes used science and data to create a list of the best cities in New Jersey to buy a new home with a population over 5,000 people. 2020 Best Places to Buy a House in New Jersey. Find cheap homes for sale, view cheap condos in New Jersey, view real estate listing photos, compare properties, … Median price per square foot for large homes: $100.66. Browse 3,283 cheap houses for sale in New Jersey, priced up to $200,000. … On a side note, Pitman is a semi-dry community without liquor stores or bars, so that's bound to save you some extra money. Here's a look at the most expensive cities in New Jersey according to the data: Chris Kolmar has been in the real estate business for almost ten years now. 1. The Camden County borough has the second 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. In what's becoming a pattern, Somerdale is also in Camden County, within a half hour of Philadelphia. What do you do? With residents earning a median income of $95,230, Haddon Heights has the third best rent to income ratio in the state. Population: 5,407Rank Last Year: 4 (Up 1)Home Price To Income Ratio: 2.4x (3rd most affordable)Income To Rent Ratio: 75.6x (33rd cheapest)More On Somerdale: Real Estate | Crime Rate | Cost Of Living. If you're buying in Berlin, the median home price is $237,700, which may seem steep, but still represents the eighth lowest home price to income ratio in New Jersey. What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city. Indianapolis, IN. Find cheap homes and condos for sale, view real estate listing photos, compare properties, and more. © 2015-2020 Chasing Chains, LLC. The cities listed above have been chosen as the best places to buy a new home in New Jersey … By Nikhita Mahtani. Please remember to verify restrictions with your agent and local authorities. You might spend more on housing, but you have more money overall to play with. Located in northwestern New Jersey, across the Delaware River from Pennsylvania, Phillipsburg ranks as the tenth most affordable city in the state. Greenville. 5 /10. It’s known for being one of the best places to live in New Jersey … The Best Places to Buy a Home in New Jersey Princeton Junction. If fresh produce isn't your thing, don't worry because New Jersey is also known as the Diner Capital of the World. The place with the lowest cost of living in New Jersey according to the data is Stratford. 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. The median home price in Pitman is $181,200 and the median income is $75,791. Montpelier, Vermont. Gloucester City, Camden County. Glassboro is a half hour south of Philadelphia, in Gloucester County.eval(ez_write_tag([[250,250],'homesnacks_com-leader-4','ezslot_10',115,'0','0']));eval(ez_write_tag([[250,250],'homesnacks_com-leader-4','ezslot_11',115,'0','1'])); The median household income in Glassboro comes in at $71,962 and the median home value is $196,000 for 2020. Vermont’s capital, Montpelier is one of the tinier capital cities, with under 8,000 … My legwork revealed that buying opportunities … if(window.innerWidth < 700){ezoicSiteSpeed(jQuery(document), String(/documentReady/).substring(1).slice(0,-1), String(/jQuery-document-dot-ready/).substring(1).slice(0,-1), function($){$("#skip_expand").html("(Expand+)");$("#toc ul").css("display", "none");$("#skip_expand").on("click", function(){$("#toc ul").toggle()});$("#toc h3").on("click", function(){$("#toc ul").toggle()});});}. Editor’s Note: We updated this article for 2020. Population: 6,741Rank Last Year: 3 (Down 1)Home Price To Income Ratio: 2.7x (11th most affordable)Income To Rent Ratio: 78.1x (30th cheapest)More On Barrington: Real Estate | Crime Rate | Cost Of Living. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. This is our sixth time ranking the. Interested yet? If you're trying to stretch your cash even further, hanging out at Cooper River Park won't cost you a thing. Runnemede residents earn a median income of $61,859, giving the borough the tenth best ratio of home price to income in the state. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks. But what is good about Jersey? Beachwood. With that example in mind, we derived several statistics from the latest Census American Community Survey 2014-2018 around incomes and costs. On average, there are no more than 20,000 houses listed during November-January. The median household income in Berlin comes in at $93,261 and the median home value is $237,700 for 2020. 1. 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. Other dollar-saving cities in New Jersey include Stratford and Barrington. Mountain Lakes. Berlin is located about 20 miles southeast of Philadelphia. The unemployment rate sits at 4.5%. More exposure and leads for agents and brokers. You can download the data here. The 10 Cheapest Places To Live In Pennsylvania For 2020. N.J. Yet another Camden County suburb of Philadelphia, Runnemede is the seventh most affordable place in New Jersey. The median household income in Somerdale comes in at $70,951 and the median home value is $168,800 for 2020. The unemployment rate sits at 4.9%. Find cheap homes and condos for sale, view real estate listing photos, compare properties, and more. However, Audubon residents also earn slightly more, with a median income of $81,884. Princeton Junction is a town in Mercer County that has a population of around 2,427. And if you already knew these places were cheap, check out some more reading about New Jersey and the cheapest places in the country: Population: 6,967Rank Last Year: 2 (Up 1)Home Price To Income Ratio: 2.3x (2nd most affordable)Income To Rent Ratio: 83.4x (19th cheapest)More On Stratford: Real Estate | Crime Rate | Cost Of Living. While rent in New Jersey may be 20% more than the national average, you wouldn't know it in Haddon Heights, where the median rent is $885, less than half the statewide average. The median household income in Barrington comes in at $75,720 and the median home value is $202,900 for 2020. Phillipsburg has the cheapest home prices on this list, with a median price of $135,300. In Vermont’s capital of Montpelier, the average cost of a house is $208,300. Zillow has 37,793 homes for sale in New Jersey. Located in Gloucester County about a half hour south of Philadelphia, Pitman is the fifth most affordable place in New Jersey. Stratford is located a half hour southeast of Philadelphia. Population: 39,415. Rent in Somerdale is slightly cheaper than the top two cities on this list at $939, but taken as a proportion of income, renting in Somerdale is less cost effective than buying. Sure, it’s worth … Median home price: $117,500. New Jersey is known for its food. Folks in Somerdale pay a median price of $168,800 for homes and earn a median income of $70,951, giving Somerdale the third lowest ratio of home price to income in the state. Specifically, this Garden State has some amazing blueberries and corn. If there is one thing that everyone in New Jersey can agree on, it’s that the cost of housing is astronomical. The 10 Most Affordable Places to Buy a Beach House. 5 Houses You Can Buy Right Now In New Jersey For $10,000 Or Less. The unemployment rate sits at 3.7%. You can then compare these metrics in each of the places in New Jersey to figure out which is the least expensive. Both the median home price ($196,000) and the median income ($71,962) are in the middle of the pack for this list, and give Glassboro the 16th lowest home price to income ratio in New Jersey. Population: 19,580Rank Last Year: 8 (Down 1)Home Price To Income Ratio: 2.7x (16th most affordable)Income To Rent Ratio: 61.8x (72nd cheapest)More On Glassboro: Real Estate | Crime Rate | Cost Of Living. You can find out more about him on LinkedIn or his website. Population: 7,547Rank Last Year: 6 (No Change)Home Price To Income Ratio: 2.5x (8th most affordable)Income To Rent Ratio: 78.8x (29th cheapest)More On Berlin: Real Estate | Crime Rate | Cost Of Living. Buying a home in Barrington will set you back $202,900, but residents also earn a median income of $75,720, so you'll be able to pay off that mortgage before the new-house smell has time to wear off. We use data, analytics, and a sense of humor to determine quality of life for places across the nation. So we used that cost of living index in order to rank all of the 187 places in New Jersey that have more than 5,000 people. The unemployment rate sits at 9.0%. eval(ez_write_tag([[336,280],'homesnacks_com-box-3','ezslot_4',106,'0','0']));You may end up landing your dream job, but the income might not be what it takes to live near the job. A relatively high median rent of $958 gives Phillipsburg the worst income to rent ratio on this list, so definitely buy here if you want to take full advantage of the town's affordability. The unemployment rate sits at 5.3%. If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already. The median household income in Pitman comes in at $75,791 and the median home value is $181,200 for 2020. However, Pitman does have the fourth best ratio of home price to income in the state, so we'd definitely recommend buying instead of renting if you want to take full advantage of the borough's affordability. Haddon Heights is the eighth cheapest place in New Jersey and the only place on this list to get a perfect 10/10 on our overall Snackability score. Methodology: In order to find the cheapest places to buy a home in every state, GOBankingRates looked at every city in each state with a population over 30,000 (10,000 in select … We aim to deliver bite-sized pieces of infotainment about where you live. This way, you will know where the cost of living is the lowest so your income will go the farthest. You can live in New Jersey and work in Philadelphia: a great option for both your career and your savings. Median list price on homes … With only 20,436 residents, Pleasantville is the smallest city on this list when it comes … lot and features 5 … The unemployment rate sits at 5.4%. Beckett. … The unemployment rate sits at 6.2%. I noticed how the best places to buy investment property in New Jersey sprung from New York City demand spillover and the allure of beach properties. Newsletter. He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move. Homes 5 Bedroom 3 Bathroom 7501 Square Footage Cheap Basement Garage Fireplace The home is in need of some TLC and provides a perfect opportunity for a fix and flip or rental. Folks in Phillipsburg earn a median income of $53,514, which gives Phillipsburg the seventh lowest home price to income ratio in New Jersey. Source: Wikipedia User Doug Kerr from Albany, NY | CC BY-SA 2.0. 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. The COVID-19 situation might influence or cause uncertainty around some open houses. At a median price of $165,000, Runnemede has the second cheapest homes you'll see on this list. State capitals are typically one of the most expensive places to live in a state, but that’s not the case in Vermont. Browse 1,444 cheap houses for sale in Jersey Shore, NJ, priced up to $200,000. Average closing costs: $2,772. What's the cheapest place to live in New Jersey? Audubon is another Philadelphia suburb that won't break the wallet, let alone the bank. Population: 194,899. The most expensive states to buy a house in 2020 On the other end of the spectrum, the two most expensive states for housing prices are Hawaii ($516/square foot, $665,000) and California … Monmouth Junction. Stories, … Median sales price: $80,000. Hiking at Kirkwood Lake is free, so nature-lovers won't have to break out their wallets to have a good time in Somerdale. Pleasantville. Reduce your cost of living, of course. Apr 9, 2020 Alice Morgan. Mobile is located near Mobile Bay… The 12 Cheapest Places to Buy a House in America Do you really want to live in Buffalo, under eight feet of snow? Wikipedia/LTwomey02 According to Smart Asset, Clayton is the most affordable city in New Jersey. Population: 14,415Rank Last Year: 11 (Up 1)Home Price To Income Ratio: 2.5x (7th most affordable)Income To Rent Ratio: 55.9x (97th cheapest)More On Phillipsburg: Real Estate | Crime Rate | Cost Of Living. Interested to learn more about our methodology? 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. At $1,164, the median rent in Glassboro is the second highest on this list and makes renting much less economical than buying, especially when considered as a proportion of income. 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Get ready for summer. All rights reserved. Haddon Heights is located in -- you guessed it -- Camden County, about 20 minutes outside of Philadelphia.eval(ez_write_tag([[300,250],'homesnacks_com-leader-2','ezslot_8',114,'0','0'])); The median household income in Haddon Heights comes in at $95,230 and the median home value is $287,600 for 2020. Source: Public … The median rent in Berlin is $1,183, which is the highest you'll see on this list. Topping our list comes Stratford, a city right over the Pennsylvania-New Jersey border near Philly. All in all, these cities on our list have one thing in common, which is their ability to give you great savings on rent. Annual … Overall SnackAbility. Population: 8,830Rank Last Year: 7 (Up 2)Home Price To Income Ratio: 2.4x (4th most affordable)Income To Rent Ratio: 67.7x (50th cheapest)More On Pitman: Real Estate | Crime Rate | Cost Of Living. Atlantic City, New Jersey. Town in New Jersey 16 reviews. 24,504 single family homes for sale in New Jersey. The most affordable places to live in the U.S. are not the ritziest. If you want to live the high life in New Jersey without spending big bucks, there's few better than Stratford. Here Are The 10 Cheapest Yet Great Places To Live In New Jersey 1. Somerdale is the third most affordable place in New Jersey thanks to a combination of low home prices and well-paid residents. Population: 8,328Rank Last Year: 5 (Down 2)Home Price To Income Ratio: 2.7x (10th most affordable)Income To Rent Ratio: 67.3x (52nd cheapest)More On Runnemede: Real Estate | Crime Rate | Cost Of Living. Phillipsburg is the only place on this list NOT in Camden or Gloucester County and within a half hour of Philadelphia.eval(ez_write_tag([[300,250],'homesnacks_com-leader-3','ezslot_9',116,'0','0'])); The median household income in Phillipsburg comes in at $53,514 and the median home value is $135,300 for 2020. Average temperature: 66.7 degrees. We used data and science to determine which places in New Jersey go easy on your wallet. Browse 3,152 cheap houses for sale in New Jersey, priced up to $200,000. The crime... 2. 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. Berlin residents also earn enough to easily cover their housing, with a median income of $93,261. The median household income in Audubon comes in at $81,884 and the median home value is $206,700 for 2020. Glen Ridge. You can start your day with a nice coffee and a bagel. 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 2020. 6 CORPUS CRISTI BAY COURT, Jersey Shore, NJ 08087, 552 BARRETTS RUN ROAD, Bridgeton, NJ 08302, 27 E Edgewater Ave, Pleasantville, NJ 08232, 244 N BROAD STREET, Penns Grove, NJ 08069, 5 TWIN RIVERS DRIVE E, East Windsor Township, NJ 08520, 303 Hamilton Place BAS3, Hackensack, NJ 07601, 238 MOUNT HOLLY ROAD, Mount Holly, NJ 08060, 70 JAMESTOWN CIRCLE, Mays Landing, NJ 08330, 36 Pheasant Meadow 36, Smithville, NJ 08205. New Jersey is also close to major urban centers, especially New York City. Annual property tax: $4,302. Source: (Alexander Schimmeck / Unsplash) Personal finances. At $287,600, Haddon Heights has the most expensive median home price on this list, but because of the high median income, it's still fairly affordable to buy here. ... Best Places To Buy A House In Pennsylvania; Worst Places To Live In Pennsylvania; The Most Affordable Places … With a median rent of $985 and a median home price of $206,700, housing in Audubon is slightly pricier than in Stratford. At $182,900, Stratford has one of the lowest median home prices on this list, and Stratford residents earn a median income of $80,233, so there's no problem paying the mortgage off. We looked at several factors to create our top ten list, which included income to rent/house price ratios. Despite having some of the most expensive housing on this list, Berlin ranks as the sixth cheapest city in New Jersey. However, that's still about 70% cheaper than the average rent in New Jersey. They are: We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc). The two most important things to think about when it comes to being able to afford if you can live comes down to: You need to understand your costs in the context of how much money you make. The unemployment rate sits at 8.3%.eval(ez_write_tag([[250,250],'homesnacks_com-medrectangle-4','ezslot_13',108,'0','0'])); Population: 8,660Rank Last Year: 1 (Down 1)Home Price To Income Ratio: 2.5x (6th most affordable)Income To Rent Ratio: 83.1x (20th cheapest)More On Audubon: Real Estate | Crime Rate | Cost Of Living. Most Expensive Places To Live In New Jersey, Census American Community Survey 2014-2018, Download The Entire New Jersey Ranking Data, Median Home Price / Median Income (lower is better), Median Income / Median Rent (Higher is better). Population: 7,491Rank Last Year: 9 (Up 1)Home Price To Income Ratio: 3.0x (26th most affordable)Income To Rent Ratio: 107.6x (3rd cheapest)More On Haddon Heights: Real Estate | Crime Rate | Cost Of Living. Want to buy a beach house on the cheap? 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. And if you're still itching for a drink, you can always pick up a bottle (or six) at the local William Heritage Winery. Stratford. The unemployment rate sits at 9.8%. Shore town among most affordable ... while talking to locals to "ensure these were places that folks would want to spend a summer vacation- … Clayton. The median household income in Stratford comes in at $80,233 and the median home value is $182,900 for 2020. That gives Audubon the sixth best ratio of home price to income in New Jersey. View pictures of homes, review sales history, and use our detailed filters to find the perfect place. Perhaps the most significant thing to consider when whether or not you should buy a house in 2020 or wait until 2021 is … Another Camden County suburb of Philadelphia, Barrington ranks as the fourth cheapest place to live in New Jersey. A home in this shore town costs about 20% less than the median home price in New Jersey. It is actually a great place to start your career.and your savings account. The 10 Cheapest Places To Live In New Jersey For 2020. The unemployment rate sits at 7.8%. We know we love a good "Taylor Ham" pork roll on the way to NYC. With a population of 19580, Glassboro is the biggest place to make this list. The median rent in Pitman is $1,119, which gives the borough a not-so-impressive standing in terms of income to rent ratio. 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.eval(ez_write_tag([[336,280],'homesnacks_com-mobile-leaderboard-1','ezslot_16',113,'0','0'])); The median household income in Runnemede comes in at $61,859 and the median home value is $165,000 for 2020. Princeton Junction. or even houses. 206,700 for 2020 can start your career.and your savings amazing blueberries and.... 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