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5 Cheapest Places to Live in New Jersey
2021-08-25
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Located on the eastern edge of the United States, New Jersey borders New York, Pennsylvania, and Delaware. This coastal state offers miles of shoreline that provide access to the Atlantic Ocean. Despite its small size, New Jersey has the largest population, with almost 9 million residents. Newark and Trenton are the two largest cities in New Jersey. The Greater New York metropolitan area is its largest metro area, with more than 20 million residents. During the American Revolutionary War, several battles took place in the state.
The residents of New Jersey have access to the best public education system in the country. People living in the north of New York can also travel to and from the state easily. Residents of New Jersey can travel to and explore neighboring states via trains and ferries. The unemployment rate in Audubon is 8.0%. Recent job growth is positive. Audubon jobs have increased by 0.3%
HomeSnacks ranked the 5 cheapest places to live in New Jersey, although New Jersey has the highest cost of living in the country.
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Top 5: Berlin
It is about 20 miles to the southeast of Philadelphia, where Berlin is located. In New Jersey, it ranks fifth in terms of affordability. Berlin has the highest median rent on this list at $1,167, which is the highest. Even so, rent there is 70% lower than New Jersey's average.
In addition, Berlin residents earn enough to comfortably cover their housing costs, with a median income of $97,003. If you're buying in Berlin, the median home price is $239,200, which may seem steep, but still represents the tenth lowest home price to income ratio in New Jersey. The unemployment rate in Berlin is 8.0%. Recent job growth is Positive. Berlin jobs have increased by 0.3%. Berlin has a 9.2% lower cost of living than the rest of the country.
Top 4:Barrington
It is one of the cheapest cities in New Jersey to live in the Camden County suburb of Barrington. When you have a median household income of $78,773, but the median home cost is only $195,300, it's not surprising people have a low home cost. Barrington has a host of other advantages for budget-conscious people, including its home price to income ratio. Generally speaking, the cost of living is relatively low. Due to its proximity to Haddon Lake, the town offers many free recreational opportunities.
Top 3: Audubon
Those who want to commute to Philadelphia without having to sacrifice all their savings should consider Audubon. Compared with the national average, the median home price in New Jersey is $212,700, which is still quite affordable. When you consider the town's median income of $86,806, it becomes even more attractive. The unemployment rate in Audubon is 8.0%.
Recent job growth is positive. Audubon jobs have increased by 0.3%. Despite its appealing cost of living, the town is close to the scenic Cooper River, where Parklets residents enjoy plenty of free outdoor recreation.
Top 2:Stratford
Just 30 minutes southeast of Philadelphia is the town of Stratford. You might decide to stay if you prefer to save to spend. It has one of the lowest home price-to-income ratios in the state, with a median income of $79,677 and a median home price of $179,100.
However, this town offers much more than just that. The unemployment rate in Stafford is 8.3%. Recent job growth is Negative. Stafford jobs have decreased by 0.2%. The population of Stafford is 28,532. Its population has grown by 3.8% since 2020. The amenities are plentiful, the job market is booming, and the community is friendly and safe. Living in the city is a good idea if you want to save money without losing your standard of living.
Top 1:Somerdale
Somerdale has it all. The median income is a modest $72,778, while the median home value is just $170,500, making it one of the lowest home price-to-income ratios to pay in the state. At $892 per month, the median rent is equally miserable. Residents of Kirkwood Lake don't have to look far (or spend much) for their leisure activities, thanks to its excellent location. As a bonus, it's located just half an hour away from Philadelphia, making it a perfect spot for people who want to enjoy the benefits of the big city without having to pay too much for it.
Did any of those on the list surprise you? Do you live in one of them?
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