Question: Why Is NJ So Expensive To Live?

What is the best town in NJ to live?

Real estate company Coldwell Banker has compiled a list of the 10 best areas to live in New Jersey in 2020.

Did your town make the list?Manalapan (Monmouth County)Closter (Bergen County) …

Clinton (Hunterdon County) …

Madison (Morris County) …

Sparta (Sussex County) …

Bridgewater (Somerset County) …

Princeton (Mercer County) …

More items…•.

What are the highest paying jobs in New Jersey?

Detailed List Of Highest Paying Jobs In New JerseyRankJob TitleAverage Salary1Surgeons, Except Ophthalmologists$279,6602Chief Executives$253,3203Psychiatrists$247,3204Dentists, All Other Specialists$244,06088 more rows•May 14, 2020

Is 100k a good salary in NJ?

If you are lucky enough to be in the public sector, and have almost total job security and a fully paid retirement, then you could probably do OK with 100k in NJ. (Not a slam on public sector workers, but your money does go a lot further when your salary and a raise are pretty much guaranteed).

What is the ugliest state in America?

ConnecticutThe first of the ugliest states in the U.S. is Connecticut. Connecticut is mostly flat and can be characterized primarily by its nondescript suburbs and unexcitable urbanized areas. Along the coast, however, you can find quaint towns and colonial architecture.

What is the cheapest state to live in 2020?

Most Affordable StatesIowa.Ohio.Indiana.Oklahoma.Michigan.Nebraska.Missouri.West Virginia.More items…•

How much does the average person make in NJ?

New Jersey Average As of Jan 6, 2021, the average annual pay for the Average jobs category in New Jersey is $58,149 an year. Just in case you need a simple salary calculator, that works out to be approximately $27.96 an hour. This is the equivalent of $1,118/week or $4,846/month.

What is the poorest city in New Jersey?

CamdenCamden, the poorest city in the state, has a poverty rate of 35.5%. Other poor areas are the cities across the Hudson River from New York City, including Newark, Paterson, and Passaic. In 2012, 9.1% of New Jersey households have annual incomes of or over $200,000, and 17.5% have incomes of $100,000 or more.

Why is it so expensive to live in NJ?

NJ property taxes (and education costs) are so high because of places like NYC and Philly. Jersey also has the shore and mountains. … NJ is the most expensive state in the US with property taxes and utilities through the roof..

What salary do you need to live in New Jersey?

That translates to an annual salary of $56,810 per year. To live in a one-bedroom apartment, you need to make $46,619 per year on average. Minimum-wager earners in New Jersey would have to work a whopping 106 hours per week to afford a modest one-bedroom apartment at the fair market rent of $1,165 per month.

What is a good salary in NJ?

But in North Jersey, the range for the middle class is $64,000 all the way up to $191,000. The overall average in New Jersey for what is considered to be middle class income for a family of four is between $60,000 and $177,000 a year.

What is middle class income in NJ?

The overall average in New Jersey for what is considered to be middle class income for a family of four is between $60,000 and $177,000 a year. According to Rutgers University economist James Hughes, “middle class” can mean many things these days.

Is New Jersey an expensive state to live?

New Jersey is a notoriously expensive state to live in. … As a result, New Jersey rents are well above average. Studio apartments in New Jersey have a median of $1,084 per month, according to 2019 data from Apartment List.

What is the cheapest city to live in New Jersey?

Most Affordable Places to Live in New JerseyHightstown.New Brunswick.Phillipsburg.Pompton Lakes.Rahway.Toms River.

Is 120k a year middle class?

Yes, a family making $120k is definitely middle class. 120k family means two people are making 60k before taxes. so after taxes they are looking at around 48k a year each. … 250K is considered Middle class.

What state is the cheapest to live in?

MississippiMississippi The cheapest state to live in in the United States is Mississippi. Overall, Mississippi’s average cost of living is about 15% lower than the national average cost of living. Mississippi’s living wage is only $48,537 and has the cheapest personal necessities anywhere in the country.

Is New Jersey cheaper than New York?

Newark and Jersey City are both generally cheaper than New York City’s outer boroughs — with the exception of Hoboken, which rivals Manhattan in costliness — despite New Jersey boasting the highest property tax rate in the country.

How much money do you need to live comfortably in NJ?

We have rankings of New Jersey places, county-by-county, based on affordability (see below). The group, for instance, estimates a family of two adults and two children in Morris County would need to earn a combined $104,121 per year — or $8,677 a month — to live comfortably.

What is the wealthiest town in NJ?

Saddle RiverSaddle River is a borough in Bergen County, N.J. As of the 2010 Census, the population came to 3,152. It is one of the wealthiest small municipalities in the U.S as it was ranked the richest suburb nation based on 1989 per capita income.