The Average Price of a Home in New Jersey May Floor You
We know things are expensive in New Jersey, and the average home price in the Garden State puts us in the top 10 in the nation.
Some people may be surprised at where we ranked. We landed at #9 which is probably not as high as some would have imagined, but if you're buying a house in New Jersey, 9 is certainly high enough.
So, just how high is the average price of a home in the Garden State? How does $327,700 sound? That's the figure published by Business Insider, which listed average home prices in each state.
New Jersey ranked higher than neighboring states. New York was #11 with an average home price of $298,100 and Pennsylvania came in at #35 ($173,200).
We all know though, that the true challenge to home ownership here in the Garden State does not end with the price of the house. The question always is whether you can afford the home and the taxes. It's probably a reality that's more true here than any other state.
I have a sneaking suspicion that if there was ever a ranking done of home price plus tax burden, we would rank much higher than #9. I think that's an unfortunate truth we know all too well in the Garden State.