New Jersey is a dream location for many, but the cost of living can be a challenge. As one of the most expensive states in the U.S., buying a home here requires either a strong income or smart decision-making. However, not every part of the state is pricey!
Some counties still offer affordable housing, making homeownership possible without breaking the bank. If you’re searching for a budget-friendly home in New Jersey, this guide will help you find the best places to settle without overspending.
Understanding New Jersey’s Housing Market
New Jersey has the third-highest household expenses in the U.S., making affordability a big concern for home buyers. Over the past five years, housing costs have skyrocketed, with the Cost Index increasing by 89%.
With median home prices reaching nearly $70,000, many families now find homeownership less affordable. However, some counties still offer reasonably priced homes, allowing buyers to enjoy the Garden State without financial strain.
Top Affordable Counties in New Jersey
If you’re looking for the most budget-friendly places to buy a home in New Jersey, these counties stand out:
1. Cumberland County – The Most Affordable Choice
Cumberland County tops the list as the most affordable place to buy a home in New Jersey. It’s the only county in the state where no properties are valued at $2 million or more.
With a median income of $66,239, residents here enjoy a lower cost of living compared to other parts of New Jersey. If affordability is your main concern, Cumberland County is a great option.
2. Salem County – A Budget-Friendly Option
Salem County offers affordable housing and is home to Mannington Township, one of the best places to buy a house in New Jersey. Additionally, it houses the Delaware Memorial Bridge, making commuting easier.
The median income for Salem County residents is around $73,556, making it an attractive choice for those seeking affordable homes.
3. Camden County – Affordable Suburban Living
Camden County is more than just the city of Camden! It is home to some of the best suburbs in the state, such as Haddonfield, Springdale, and Greentree.
With a median income of $89,170, this county offers a mix of affordability and convenience, making it a popular choice for families looking for suburban life at a reasonable price.
4. Gloucester County – Low Cost of Living with Great Connectivity
Gloucester County is a unique location with easy access to Philadelphia, Delaware, and Atlantic City. It also features two of the most affordable suburbs in New Jersey – Turnersville and Mullica Hill.
The median household income here is $106,671, and it remains a great option for homebuyers looking for affordability combined with accessibility.
5. Atlantic County – A Great Place for Retirees
If you’re planning for retirement or looking for a peaceful place to settle down, Atlantic County is an excellent choice. It is home to Linwood and Margate City, two of the best retirement destinations in the state.
The median household income here is $82,640, and the cost of living is still manageable compared to other parts of New Jersey.
6. Burlington County – A Homebuyer’s Delight
Burlington County is another top choice for those looking to buy a home without overspending. It includes some of the best places to buy a house, such as Medford Township and Chesterfield Township.
The median income in this county is $110,245, making it a solid option for those looking for affordability with a good quality of life.
7. Ocean County – Shoreline Beauty with Affordable Homes
Love the beach? Ocean County is home to some of the most beautiful shoreline towns in New Jersey, including Bay Head, Lavallette, and Beach Haven.
It’s a great location for those who want to enjoy coastal living without paying a fortune. The median household income here is $89,283, and home prices are still within reach for many buyers.
8. Cape May County – A Retirement Haven
Cape May County is one of the most desirable places for retirees, featuring beautiful coastal towns such as Ocean City, Avalon, Cape May, and Sea Isle City.
With a median income of $92,821, it remains an attractive yet affordable place to settle down for those looking for a peaceful retirement near the beach.
Final Thoughts – Where Should You Buy?
While New Jersey has a high cost of living, these counties prove that affordable homes are still available. Whether you’re a first-time homebuyer, looking to relocate, or planning for retirement, these locations offer a great balance between cost and quality of life.
Before making a decision, consider your budget, lifestyle needs, and long-term goals. With the right approach, owning a home in New Jersey can still be a dream within reach!
