Moving from New York City to New Jersey - Cost of Living, Rent, and Best Places to Live

Relocating from the fast-paced life of New York City to the suburban charm of New Jersey offers exciting possibilities, but it also brings a host of new considerations. Whether you're searching for more affordable housing, additional living space, or a family-friendly community, moving to New Jersey presents a unique opportunity to enjoy the best of both worlds - proximity to Manhattan and a more relaxed lifestyle. In this guide, we'll discuss everything you need to know about moving from New York City to New Jersey, including cost of living comparisons, rental prices, and the best places to live.

Cost of Living - How Does New Jersey Compare to New York City?

The cost of living is one of the most significant factors influencing the decision to move from New York City to New Jersey. New York City has a higher cost of living, driven primarily by astronomical rents and expensive everyday essentials. But how does New Jersey stack up?

Housing and Rent Prices

Housing costs are where you'll likely see the most significant savings after moving to New Jersey. While rent prices in some urban New Jersey cities like Hoboken or Jersey City can approach those of New York's outer boroughs, the overall cost of housing is substantially lower throughout the state.

●      New York City Rent - The average rent for a one-bedroom apartment in Manhattan is over $4,000 per month, and even in outer boroughs like Brooklyn or Queens, rents can easily top $3,000.

●      New Jersey Rent - In comparison, you can find one-bedroom apartments in New Jersey for significantly less. For example -

○      Hoboken - $2,800 to $3,500

○      Jersey City - $2,500 to $3,200

○      Suburban areas like Montclair, Maplewood, or Westfield offer one-bedroom apartments from $1,500 to $2,500, depending on location.

If you're looking to buy a home, New Jersey offers far more square footage for your dollar. The median home price in New Jersey is approximately $540,000, compared to New York City's median home price of over $800,000. However, property taxes in New Jersey are among the highest in the nation, so it's important to factor that into your budget.

Utilities and Groceries

Utilities are another area where you may see savings after your move. In general, utilities—such as electricity, heating, and water—tend to be slightly cheaper in New Jersey. However, depending on the size of your new home, your overall utility bills may increase simply because you'll have more space to heat and cool.

Groceries in New Jersey tend to be slightly more affordable compared to New York City, where prices are often inflated due to limited space and higher operational costs for stores. You'll find that many of the big-box retailers in suburban New Jersey offer lower prices on essentials like groceries and household goods.

Transportation Costs

If you're planning to commute back into the city for work, transportation costs can offset some of the savings from lower rent and housing costs. Many New Jersey residents commute into Manhattan via NJ Transit, the PATH train, or buses, and it's important to account for these costs when calculating your budget.

• NJ Transit monthly passes range from $100 to $400, depending on the distance.
• PATH train fares are more affordable, at $2.75 per ride or about $89 for a monthly pass.
• Driving and parking can be costly, with tolls for bridges and tunnels reaching up to $16 each way. Parking in Manhattan can range from $300 to $1,000 per month.

While you might save on housing, commuting costs can add up quickly. However, these expenses are often outweighed by the improved quality of life and additional living space.

Best Places to Live in New Jersey

New Jersey offers a wide range of living environments, from bustling urban cities to quiet suburban towns. Whether you're looking for easy access to Manhattan, top-rated schools, or charming neighborhoods, there's a New Jersey community that's perfect for you. Below, we'll list some of the most popular areas to consider when moving from New York City.

1. Hoboken

If you're looking for a vibrant urban setting similar to New York City, Hoboken might be your ideal new home. Located just across the Hudson River from Manhattan, Hoboken offers a lively social scene, walkable streets, and plenty of dining and nightlife options. It's known for its charming brownstone-lined streets and waterfront views.

• Commute - Hoboken offers one of the shortest and most convenient commutes into Manhattan. You can get on the PATH train from Hoboken Terminal, which takes about 10 to 15 minutes to reach lower Manhattan. Alternatively, you can catch a ferry for a scenic commute across the river.
• Housing - While Hoboken is one of the more expensive cities in New Jersey, it's still more affordable than most neighborhoods in Manhattan. Expect to pay between $2,800 and $4,000 per month for a one-bedroom apartment, with some luxury units exceeding $5,000.

2. Jersey City

Jersey City has become a popular destination for those who want proximity to Manhattan without the New York City price tag. It's home to a diverse population and boasts a rapidly developing waterfront area, with new high-rise apartment buildings offering stunning views of the Manhattan skyline.

• Commute - Like Hoboken, Jersey City offers a quick commute to Manhattan via the PATH train. Depending on where you live in Jersey City, the trip to lower Manhattan can take as little as 15 minutes.
• Housing - Jersey City offers a wide variety of housing options, from luxury high-rise buildings to more affordable rental units in older buildings. Rental prices for one-bedroom apartments range from $2,500 to $3,500, making it slightly more affordable than Hoboken.

3. Montclair

For those seeking a more suburban atmosphere while still having access to cultural amenities, Montclair is a top choice. Located about 12 miles west of Manhattan, Montclair is known for its vibrant arts scene, top-rated public schools, and diverse community. It's a great option for families or anyone looking for more space without sacrificing a sense of community.

• Commute - Montclair offers several NJ Transit train stations, with direct service to Penn Station in Manhattan. The commute takes about 45 minutes to an hour, depending on the specific train line.
• Housing - Montclair's real estate market is competitive, with many beautiful Victorian homes, but the prices reflect its desirability. Expect to pay between $2,000 and $3,000 for a one-bedroom apartment, while single-family homes typically start around $700,000.

4. Maplewood

Maplewood is another popular New Jersey suburb known for its tight-knit community, charming downtown, and easy access to Manhattan. It's often considered one of the best places for families, thanks to its excellent school system and beautiful parks.

• Commute - Maplewood is served by NJ Transit's Midtown Direct line, which takes about 40 minutes to get to Penn Station.
• Housing - Like Montclair, Maplewood has a competitive housing market. Apartments with one bedroom typically cost $1,800 to $2,500, and single-family homes typically start at $600,000.

5. Edgewater

For those who want waterfront living and stunning views of the New York City skyline, Edgewater is a great option. Located along the Hudson River, Edgewater offers a relaxed, suburban vibe with plenty of modern apartment complexes and townhomes.

• Commute - Edgewater is conveniently located near the George Washington Bridge, making it easy to drive into Manhattan. There are also ferry services that offer a scenic commute into Midtown.
• Housing - One-bedroom apartments in Edgewater range from $2,200 to $3,200 per month. Many of the newer buildings offer luxurious amenities like rooftop terraces, pools, and gyms. 

Other Considerations When Moving to New Jersey

Beyond the cost of living and choosing the right place to live, there are a few other factors to consider when planning your move from New York City to New Jersey.

1. Taxes

One of the main drawbacks of living in New Jersey is the state's high property taxes. It consistently ranks as one of the states with the highest property tax rates, with an average effective rate of 2.30%. This can significantly impact your budget, especially if you're planning to buy a home. However, New Jersey's income tax rates are generally lower than New York's, which can help offset the higher property taxes.

2. Education and Schools

If you're moving with children, New Jersey's public schools are some of the best in the country. Many suburban areas, including Montclair, Maplewood, and Westfield, are known for their top-rated school systems, which is a big draw for families. However, it's important to research the specific school districts in the areas you're considering, as there can be significant differences in quality between towns.

3. Lifestyle and Recreation

New Jersey offers a range of recreational opportunities, from its famous beaches along the Jersey Shore to hiking trails in the Watchung Mountains and the Delaware Water Gap. Many suburban towns have well-maintained parks, local farmers' markets, and community events that foster a strong sense of community. If you're an outdoor enthusiast, you'll likely appreciate the variety of natural beauty New Jersey has to offer.

Additionally, New Jersey is home to many shopping destinations, from high-end malls to outlet centers, where you can take advantage of the state's lower sales tax rates on clothing and shoes compared to New York.

Is Moving to New Jersey Right for You?

Moving from New York City to New Jersey can provide a welcome change of pace, offering more affordable housing, additional living space, and a different lifestyle while maintaining easy access to Manhattan. However, the decision to move should take into account various factors, including your commuting needs, budget, and preferences for city versus suburban living.

By carefully researching neighborhoods, understanding the cost of living differences, and evaluating your priorities, you can make a well-informed decision that complements your lifestyle and financial goals.

Make Your Move Easy with Affordable Moving & Storage

If you're planning a move from New York City to New Jersey, let Affordable Moving & Storage handle all the heavy lifting. As local moving specialists serving both New Jersey and New York, we have the expertise, equipment, and commitment to make your relocation smooth and stress-free. Whether you're moving to Hoboken, Montclair, or anywhere on the East Coast, our professional team is here to help. Contact us today for a free quote and see how we can make your next move the easiest one yet!