SmartAsset Study: These are the Best Places to Own Home in New Jersey
The decision to rent or buy a home can be a challenging one. A study from SmartAsset, a financial technology company, makes it easier by determining which markets are the best for buyers. The study compares average rent and home prices in counties across the U.S. to find the places where buying makes the most sense.
For a more detailed look at the rankings in New Jersey check the table below:
| Rank | County | Avg. Monthly Mortgage Payment | Avg. Monthly Rent | Avg. Home Price | Breakeven Year | Rent vs. Buy Index |
|---|---|---|---|---|---|---|
| 1 | Camden, NJ | $1,194 | $1,587 | $309,873 | 1.1 | 98.5 |
| 2 | Cumberland, NJ | $1,003 | $1,607 | $260,434 | 1.1 | 98.5 |
| 3 | Atlantic, NJ | $1,504 | $1,852 | $390,431 | 1.2 | 98.0 |
| 4 | Ocean, NJ | $1,614 | $2,106 | $418,980 | 2.3 | 94.7 |
| 5 | Warren, NJ | $1,560 | $1,647 | $404,828 | 2.4 | 94.4 |
| 6 | Middlesex, NJ | $2,067 | $2,202 | $536,448 | 2.5 | 93.9 |
| 7 | Salem, NJ | $1,161 | $1,587 | $301,223 | 2.8 | 93.1 |
| 8 | Burlington, NJ | $1,229 | $1,587 | $318,962 | 2.8 | 93.0 |
| 9 | Sussex, NJ | $1,531 | $1,806 | $397,410 | 2.9 | 92.7 |
| 10 | Mercer, NJ | $1,744 | $1,867 | $452,715 | 2.9 | 92.6 |
Additional details on the study, including the methodology and interactive map, can be found here: https://smartasset.com/
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