The Least and Most Affordable Places to Live in South Jersey
South Jersey figured prominently in the new UnitedStatesZipCodes.org study of New Jersey's Least Affordable Places to Live list. We didn't do so well in the New Jersey's Most Affordable Place to Live category.
The study analyzed the most recent data from the Census Bureau to compare local home prices with local incomes to determine housing affordability.
The rankings were determined by calculating the Median Multiple, which answers the question, "how many years would it take for the median income to pay off the median home price?"
Lower values indicate that incomes in the area are high enough to make it easier to pay off a home. Anything under 3 is considered affordable.
The New Jersey median multiple is 4.2 and has risen 3.0% since last year. The study lists the 50 most and least affordable places to live.
Atlantic, Cape May and Cumberland counties factor in ten of the 100 most or least affordable place to live in New Jersey. Eight out of the ten are in the Least Affordable category.
Here's the South Jersey list of (mostly) Least and most affordable places to live in South Jersey....
Least Affordable in South Jersey
- #2 (overall state wide) - Cape May Point 15.1
- #5 - Stone Harbor 11.7
- #6- Avalon - 11.5
- #12-Ssea Isle City - 9.2
- #22 Ocean City- 7.8
- #27- Wildwood - 7.3
- #31- Margate - 6.9
- #40- Longport - 6.5
Most Affordable in South Jersey
-#14 - Estell Manor - 2.3
- #40- Vineland - 2.6