Pros, cons, key stats, and the strongest New Jersey cities to consider. Based on our analysis of 255 tracked New Jersey city markets.
It depends on your budget and city choice. The better answer is city-specific: New Jersey contains both stronger and weaker markets, and the right fit depends on your budget, job needs, climate tolerance, and tax situation.
Pros
- Highest median household income in the US
- Excellent public schools
- NYC + Philly proximity
- Coastal access (Jersey Shore)
- Walkable downtowns in many towns
Cons
- Highest property tax rate in US
- Expensive housing
- Dense traffic across the state
- Limited open space
What this means in practice
Across 255 tracked New Jersey city markets, the median home costs $581,535 with a 1-year change of +4.0% and a median momentum score of 73 out of 100.
On taxes, Highest property tax rate in the country. Top marginal income 10.75%. SS untaxed; pension exclusion. That matters because the cheapest state on paper can still be expensive if property tax, insurance, or local housing costs overwhelm the headline rate.
State-level averages mask city-level variation — within any state, individual cities can have radically different cost, climate, and trajectory. Use the strongest-momentum cities below as a starting point.
Top 5 New Jersey cities by momentum
- Lakewood — momentum 87, median $578,744
- Florham Park — momentum 83, median $1,051,746
- Ventnor City — momentum 83, median $620,740
- Point Pleasant — momentum 82, median $741,089
- Chatham — momentum 81, median $1,351,031