This NJ town has the cheapest beachfront homes in the U.S.

Living by the water is a dream for a lot of people, and, it turns out, doing so in New Jersey is a lot less expensive than other states. Of course, it matters where in the state you are.

A home-buying website called Casago set out to find where the most expensive and least expensive beachfront homes could be found.

Part of their methodology:

To find the locations where the beachfront properties carry the biggest premium, we created a long list of coastal cities and towns across the United States. We collected sale prices for the beach-view and non-beach-view properties (all property types) in each location by using the Zillow “Waterview” data field, allowing us to calculate the median price of beach-view properties.

They calculated which homes were the most expensive in absolute terms as well as which homes were sold at the highest premium (compared other houses in the area). California has the highest median price in absolute terms, while Florida is number one with the highest markup for water-view homes.

OK, but where does New Jersey fit in; after all, we’re a coastal state with many charming shore towns. Well, out of all the cities they surveyed, one NJ town was dead last in median price for beachfront properties: Atlantic City.

Casago (via Zillow) says that the median price for a water-view property in AC is only $130,000. The highest median price for a beachfront house in Long Beach — the most expensive in New Jersey at $1.85 million.

Casago points out that AC has an unusually high foreclosure rate, bringing the median price down.

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

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