The unemployment rate sits at 4.5%. With residents earning a median income of $95,230, Haddon Heights has the third best rent to income ratio in the state. It’s known for being one of the best places to live in New Jersey … Runnemede residents earn a median income of $61,859, giving the borough the tenth best ratio of home price to income in the state. For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. Population: 5,407Rank Last Year: 4 (Up 1)Home Price To Income Ratio: 2.4x (3rd most affordable)Income To Rent Ratio: 75.6x (33rd cheapest)More On Somerdale: Real Estate | Crime Rate | Cost Of Living. If you're buying in Berlin, the median home price is $237,700, which may seem steep, but still represents the eighth lowest home price to income ratio in New Jersey. What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city. Shore town among most affordable ... while talking to locals to "ensure these were places that folks would want to spend a summer vacation- … The 10 Cheapest Places To Live In New Jersey For 2020. Browse 1,444 cheap houses for sale in Jersey Shore, NJ, priced up to $200,000. The unemployment rate sits at 7.8%. With only 20,436 residents, Pleasantville is the smallest city on this list when it comes … Stratford is located a half hour southeast of Philadelphia. Please remember to verify restrictions with your agent and local authorities. The COVID-19 situation might influence or cause uncertainty around some open houses. You can download the data here. Homes 5 Bedroom 3 Bathroom 7501 Square Footage Cheap Basement Garage Fireplace The home is in need of some TLC and provides a perfect opportunity for a fix and flip or rental. Phillipsburg has the cheapest home prices on this list, with a median price of $135,300. Browse 3,283 cheap houses for sale in New Jersey, priced up to $200,000. 2020 Best Places to Buy a House in New Jersey. Population: 19,580Rank Last Year: 8 (Down 1)Home Price To Income Ratio: 2.7x (16th most affordable)Income To Rent Ratio: 61.8x (72nd cheapest)More On Glassboro: Real Estate | Crime Rate | Cost Of Living. Median home price: $117,500. At $1,164, the median rent in Glassboro is the second highest on this list and makes renting much less economical than buying, especially when considered as a proportion of income. Audubon is another Philadelphia suburb that won't break the wallet, let alone the bank. 5 Houses You Can Buy Right Now In New Jersey For $10,000 Or Less. The most expensive states to buy a house in 2020 On the other end of the spectrum, the two most expensive states for housing prices are Hawaii ($516/square foot, $665,000) and California … Population: 39,415. A relatively high median rent of $958 gives Phillipsburg the worst income to rent ratio on this list, so definitely buy here if you want to take full advantage of the town's affordability. 6 CORPUS CRISTI BAY COURT, Jersey Shore, NJ 08087, 552 BARRETTS RUN ROAD, Bridgeton, NJ 08302, 27 E Edgewater Ave, Pleasantville, NJ 08232, 244 N BROAD STREET, Penns Grove, NJ 08069, 5 TWIN RIVERS DRIVE E, East Windsor Township, NJ 08520, 303 Hamilton Place BAS3, Hackensack, NJ 07601, 238 MOUNT HOLLY ROAD, Mount Holly, NJ 08060, 70 JAMESTOWN CIRCLE, Mays Landing, NJ 08330, 36 Pheasant Meadow 36, Smithville, NJ 08205. Vermont’s capital, Montpelier is one of the tinier capital cities, with under 8,000 … The Best Places to Buy a Home in New Jersey Princeton Junction. Average temperature: 66.7 degrees. The unemployment rate sits at 9.0%. We know we love a good "Taylor Ham" pork roll on the way to NYC. The median household income in Barrington comes in at $75,720 and the median home value is $202,900 for 2020. Rent in Somerdale is slightly cheaper than the top two cities on this list at $939, but taken as a proportion of income, renting in Somerdale is less cost effective than buying. Find cheap homes for sale, view cheap condos in New Jersey, view real estate listing photos, compare properties, … You can then compare these metrics in each of the places in New Jersey to figure out which is the least expensive. The unemployment rate sits at 8.3%.eval(ez_write_tag([[250,250],'homesnacks_com-medrectangle-4','ezslot_13',108,'0','0'])); Population: 8,660Rank Last Year: 1 (Down 1)Home Price To Income Ratio: 2.5x (6th most affordable)Income To Rent Ratio: 83.1x (20th cheapest)More On Audubon: Real Estate | Crime Rate | Cost Of Living. Median sales price: $80,000. Interested yet? However, Audubon residents also earn slightly more, with a median income of $81,884. Most Expensive Places To Live In New Jersey, Census American Community Survey 2014-2018, Download The Entire New Jersey Ranking Data, Median Home Price / Median Income (lower is better), Median Income / Median Rent (Higher is better). Clayton. Specifically, this Garden State has some amazing blueberries and corn. You can find out more about him on LinkedIn or his website. At a median price of $165,000, Runnemede has the second cheapest homes you'll see on this list. 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