Quick Answer: What Is The Cheapest Place To Live In New Jersey?

What is a good salary for a single person in NJ?

The report defines “afford” as spending no more than 30 percent of your gross income on rent.

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..

Why is rent so high in NJ?

On a statewide basis you have a high population density and incomes that are significantly higher than the national average. Property taxes are also among the highest in the country which also helps to drive up costs for providing rental properties.

Is it expensive to live in New Jersey?

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. That’s $257 above the national average.

What is the most dangerous city in NJ?

Here are the 10 most dangerous cities in New Jersey for 2020, according to RoadSnacks:No. 1: Wildwood. Wildwood claimed the No. … No. 2: Asbury Park. Asbury Park is the lone Monmouth County city to make the list. … No. 3: Camden. … No. 4: Woodbury. … No. 5: Bridgeton. … No. 6: Millville. … No. 7: Trenton. … No. 8: Elizabeth.More items…•

How many millionaires live NJ?

293,992 millionaire householdsIn New Jersey, there are 293,992 millionaire households, for a ratio to total households of 8.95 percent, according to the Phoenix Marketing International report that tracks high net-worth households. The state was ranked second in 2017, when it had 258,988.

What is a livable wage in New Jersey?

MIT’s Living Wage Calculator lays out how much you need to make in New Jersey to cover not just food but the other essentials, and the numbers show that $8.80 doesn’t cut it. As an average for the whole state, a single adult would need to make $13.72 an hour. If that person had a child, $28.56.

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 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 cheapest city to live in in New Jersey?

Most Affordable NJ Town 2019 – NJ’s Best Towns for FamiliesAffordability RankTownAverage Home Price1South Bound Brook255,3442Victory Gardens169,7423Lebanon343,0004Glen Gardner228,5656 more rows•Mar 25, 2019

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.

Where is the cheapest rent in NJ?

On the other end of the spectrum, the cheapest place to rent in New Jersey was Lindenwold. The Camden County borough of about 17,000 residents, which is about 30 minutes from Philadelphia, cost the average tenant $990/month and was the only place in the state where rents came in below $1,000.

What is the poorest town in NJ?

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.

What’s the richest town in NJ?

07458 (Saddle River) Saddle 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.

What is the nicest town in New Jersey?

The Most Beautiful Towns in New Jersey, USACape May. Architectural Landmark. Facebook. … Lambertville. Architectural Landmark. Facebook. … Collingswood. Architectural Landmark. Facebook. … Allentown. Architectural Landmark. Facebook. … Spring Lake. Architectural Landmark. Facebook. … Clinton. Architectural Landmark. … Frenchtown. Architectural Landmark. … Cranbury. Architectural Landmark.More items…•

Is making 50k a year good?

As you can see, a salary of $50k is considered good money. However, there is ample room for improvement if you want to improve your situation. The average household income is approximately $63k. Therefore, a salary of $50k is considered below average.