In general, the cost of utilities in New Jersey is fairly close to costs in the average U.S. These costs must therefore be considered as part of any potential budget. Cost of Utilities in New JerseyĪside from the direct costs of rent or mortgages, residents must also pay for several utilities necessary for life. For maximum space, rent a four-bedroom apartment or house for $2,450 on average. Adding a bedroom raises the price to $1,600, and a three-bedroom costs $2,200. Renting a single-bedroom apartment would require $1,250. On the other end, the most expensive rents can be found in Hoboken at about $4,000 a month.Īs for New Jersey rent by apartment size, the average studio apartment in the state costs about $1,000. Rents in the state capital are a little more expensive at $1,600 each month, about on par with the city of Newark average of $1,400. The most affordable rents in the state can be found in Lindenwold, with rents averaging $1,100 a month. Fortunately, New Jersey has a wide mix of rental options and different cost levels. For others, the apartment lifestyle is more appealing. Many residents prefer to live in an apartment for a while before deciding to buy a home. Prices in the city of Edison hover at about $475,000, while a home in Atlantic City costs around $170,000. Trenton's home prices are lower than the statewide average at $255,000, which may be good news for state government employees working near the capital. However, it's possible to find homes much higher and much lower than this mid-range value. Typically, homes in New Jersey cost about $430,000. There are areas of the state with more expensive housing and areas where prices are more affordable. However, these costs are not borne out equally. index, New Jersey costs are about 36.4% more expensive. Costs related to housing and real estate are often the most expensive in thriving communities.
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