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The cost of living in New Jersey is 11% higher than the national average. Housing is 30% higher than the national average, while utilities are 10% higher. When it comes to basic necessities such as food and clothing, groceries are around 1% higher than in the rest of the country, while clothing costs 5% higher.
Is housing expensive in New Jersey?
Cheapest Places to Live in New Jersey in 2025 CityMedian Home ValuePopulation 1. Camden $138,452 71,100 2. Gloucester City $227,696 66,239 3. Vineland $290,873 60,797 4. Absecon $327,522 9,1306 more rows Jan 27, 2025
How much money do I need to buy a house in NJ?
Using an average housing index for the U.S., New Jersey costs run about 36.4% higher than the national average. The good news? These housing costs arent the same everywhere in the state. There are plenty of cities with more affordable housing options depending on your budget needs.
Are home prices dropping in NJ?
Key Takeaways: New Jersey home prices have shown significant growth in recent years, with a 9.2% increase as of August 2024. Low housing inventory and high demand continue to be major factors driving price increases. Experts predict a moderation in price growth for 2025, with estimates ranging from 2-4% increase.
What is the average house price in New Jersey?
There are currently 24,370 homes for sale in New Jersey. The median list price in New Jersey is $550,000 and the average price per square foot is $304.
Related Searches
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