Top 7 Cheapest Places to Live in New Jersey (2023)

Living in New Jersey can provide the best of both worlds – a peaceful suburban lifestyle with easy access to two major cities, New York City and Philadelphia. However, the state’s serenity and convenience often come at a high cost, making it one of the priciest states in the US. But fret not; with thorough research and exploration, there are numerous affordable areas to reside in New Jersey. Here, we’ll look at some of the most cost-effective places to live in the state.

Cheapest Places to Live in NJ

Gloucester City

In 2022, Gloucester City in New Jersey is considered the most affordable residence place. With a median home value of slightly above $125,000, this town in Camden County accommodates approximately 11,500 inhabitants. It boasts a convenient location across the Delaware River from Philadelphia. The town’s small size also exudes a warm and welcoming vibe, making it an ideal place for families to settle. Gloucester City has many Irish-American residents, adding to the town’s unique charm.

Gloucester City is a highly affordable place to live, with a median home value of only $125,800 and a median rent under $1,200. It’s no wonder why it’s become an excellent option for families and young professionals looking to settle down. The tight-knit community and abundance of public parks and walking spaces make it a perfect place to call home. Additionally, it’s an excellent option for those working across the river in Philadelphia.

Philipsburg

In Warren County, New Jersey and along the Delaware River, Philipsburg is a great place to live if you’re looking for affordability. It’s just across the Northampton Street Bridge from Easton, Pennsylvania, and offers easy access to New York and Philadelphia, making it a central location. Also, Philipsburg is only 30 minutes from the Pocono Mountains, making it an excellent place for outdoor enthusiasts. With a rich history, Philipsburg is a charming and affordable place to call home.

Philipsburg used to be a vital transportation hub, and even today, the Norfolk Southern Railway passes through the town. The place offers excellent value to families seeking to grow, as the median rent is below $ 1,000, and the median home value is $136,800.

Oaklyn

Oaklyn, a serene borough in Camden County, New Jersey, is frequently recognized as one of the state’s most desirable places to reside. With a population of less than 5,000, this tranquil suburb is only a short 20-minute drive away from Philadelphia.

Oaklyn is a great place to live with its affordable cost of living and excellent public schools. The median home value is only $186,300, and the median rent is less than $1000. The town boasts a thriving economy, with a high employment rate and business growth that is highly favourable compared to the cost of living.

Absecon

Absecon, located in Atlantic County, New Jersey, is a serene city on the Absecon Bay, just outside Atlantic City. This small town boasts a close-knit community and stunning waterfront views, making it an ideal location for those seeking a peaceful and picturesque setting.

The bay nearby offers abundant recreational activities, while the Absecon Wildlife Management Area boasts 3700 acres of protected marshland, perfect for fishing and bird watching. Atlantic City is just a stone’s throw away for those seeking more excitement and entertainment.

Absecon is an excellent place for families and retirees due to its low cost of living. With a median home price of under $200,000 and a median rent of just over $1400, it is an affordable place to call home. Moreover, plenty of attractions in Absecon make it an ideal place to settle down.

Trenton

Trenton, the county seat of Mercer County, serves as the capital of New Jersey. Being a historic city, it has a rich heritage and is conveniently connected to New York City and Philadelphia. Trenton is a popular destination for young families who appreciate the excellent public schools and the abundance of parks. One of the most significant advantages of living in Trenton is the low cost, which is 26% lower than the New Jersey average. Additionally, the cost of housing in Trenton is among the most affordable in the state.

While there’s no denying that the city has its fair share of issues, such as crime and limited job prospects, it’sprospective residents must conduct thorough research before deciding on a particular area to settle in. Despite these challenges, the city remains affordable for those willing to explore its safer neighbourhoods and harness its vast potential.

Pitman

Located just 40 minutes from Philadelphia and Wilmington, Delaware, Pitman is a charming borough in Gloucester County that boasts a delightful downtown area filled with local shops and restaurants. The community regularly hosts events such as crafts fairs and outdoor concerts, making it a great place to enjoy some entertainment. Additionally, Pitman has numerous parks and golf courses, as well as Alcyon Lake, which provides plenty of opportunities for outdoor recreation.

Hightstown

Hightstown, a borough in Central New Jersey’s Mercer County, is a vibrant community boasting a bustling downtown area filled with excellent restaurants, shops, and local businesses. The town is home to exceptional schools and offers numerous parks, golf courses, and recreational areas, making it an ideal place for families to settle down. Additionally, its proximity to New York and Philadelphia, just an hour’s drive away, provides residents with endless opportunities for adventure and entertainment. What’s more, Hightstown is an affordable option, with an average home value of under $300,000 and a median rent of less than $ 1,500, making it an attractive option for those looking to live in New Jersey without breaking the bank.

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