New Jersey has long had a reputation for being one of the priciest states in the nation in terms of cost of living. Between the notoriously high taxes and the high price of homes, it’s hard for many families to make ends meet in the towns that they live in. This makes one wonder which town is the most affordable for a typical family. After a little bit of research, we were able to dig up a couple of names that could be among the most affordable town in Jersey.
Clayton – This town boasts extremely low property taxes, low closing costs for homebuyers, surprisingly low crime rates, and good school districts. The average income of a family in Clayton is around $72,000. This income level is about average for New Jersey, which means that it may the perfect place for average families who want to have an extraordinarily affordable home.
Beachwood – Beachwood is a picturesque little town in Ocean County with a friendly community and great home prices. Much like Clayton, the major pull here is that Beachwood has a very low property tax rate. In fact, it’s even lower than Clayton’s. So, if you don’t like paying property taxes, this is a good place to live.
Hopatcong – A beautiful and quiet town in Northern New Jersey, Hopatcong has good schools and a low crime rate. It also has beautiful lakes, good restaurants, and plenty of wooded areas. The average annual mortgage payment here is a very reasonable $13,206 per year. For North Jersey, that’s a deal!
Caldwell – NYC commuters love this town because of how easy it is to find a one bedroom condo for under $250,000. Low crime rates, good schools, and fast access to the Big Apple is what makes this highly affordable town one of the more popular choices on this list for those who want to invest in real estate.
Of course, there are plenty of homes for sale throughout New Jersey that can be considered to be bargain buys. In South Jersey, real estate investors and homebuyers should also consider foreclosures and short sales. These properties may require patience and some elbow grease, but they can make property ownership a reality.
One of the most important things to do when considering real estate is to make sure you are represented by an experienced lawyer. If you are looking to buy real estate and want to make sure that your rights and financial investment are protected during the process, contact the Law Office of Joel R. Spivack today.
