The price of paradise: New Jersey’s staggering housing market

If you’ve been house-hunting lately in New Jersey, you probably didn’t need a national ranking to tell you it’s expensive. But just in case you were wondering, yep, we officially made the top 10.

In an article on the subject on, New Jersey comes in at No. 6 on the list of most expensive states to buy a home, with an average home value of $508,430. And honestly? I’m not shocked. Disappointed, yes. Surprised? Not at all.

Listen, New Jersey deserves to be praised. Between our proximity to New York City and Philly, gorgeous (and in-demand) coastal towns, and the kind of public schools and job opportunities people move for, it kind of makes sense.

SEE MORE: This is the one thing NJ has that no other state does

Add in our infamous property taxes, and you’ve got the perfect storm for sky-high prices.

The problem is, it’s become nearly impossible for anybody who is not wealthy to buy a home here.

Here’s the full top 10 list:

🏚 1. Hawaii – $856,327

🏚 2. California – $782,695

🏚 3. Massachusetts – $609,415

🏚 4. Utah – $518,241

🏚 5. Washington – $588,986

🏚 6. New Jersey – $508,430

🏚 7. Colorado – $548,602

🏚 8. Oregon – $497,249

🏚 9. New Hampshire – $463,091

🏚 10. New York – $458,072

Even though we’ve got some of the highest median wages in the country, it still feels like owning a home here is getting further out of reach. And with the U.S. median home price now sitting at $420,800, that extra $80K in Jersey hits hard.

Of course, real estate has always been about location, location, location and New Jersey has a lot going for it. But for first-time buyers and young families, that doesn’t make it any easier. Let’s hope some relief is on the horizon. Or at the very least… a price plateau.

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Judi Franco only.

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