New York ranks number one when it comes to losing residents to other states, with New Jersey being one of the top five states that New Yorkers migrate to. While many have chosen to move to New Jersey cities that are close to the Big Apple, the reasons why are perhaps what has kept new residents coming over the years. Whether choosing to move to the Gold Coast from the city for a quieter life, the fantastic views of the Manhattan skyline, or simply because of the affordability, there are many justifiable reasons to do so.
A smart move?
Moving to New Jersey from the Big Apple can seem like a drastic change, though many people choose to do so in order to keep their jobs in New York City while skipping out on the pricey costs of living that come along with living there. In fact, when choosing to move to the neighboring Garden state, having a simple and short commute to NYC is a major benefit that allows many to keep the hustle and bustle of the famed city in their life, without the financial burden — particularly when it comes to housing. While mortgages often tend to be lower, Crediful recommends browsing some of the top lenders to find one that suits your personal needs, which can allow you to become a homeowner in NJ for considerably less of a price tag than in NYC. All things considered, there is one popular city to keep in mind when it comes to moving.
Moving to Jersey City
One of the biggest cities in the state, the population in Jersey City has increased by 9.49% since the most recent census (of which reported a population of 247,597 back in 2010). In fact, the U.S. Census estimated the 2018 population to be 265,549, proving it’s steady growth. Taking the statistics into consideration, it’s not hard to see why when looking at the cost of housing. In fact, when it comes to cost, it’s estimated that the average cost of a home is $391,000, whereas the average monthly rent is $1,500. When put into perspective, these options are considerably more affordable when you consider that the median home cost in New York City;s Manhattan is over a whopping 1.3 million dollars, and the average rent is around $3,400 each month — proving it to be a much cheaper alternative for those looking to save money.
Many people have been moving out of New York City in favor of the Gold Coast, and for a multitude of reasons. From a cheaper cost of living to a short commute from a number of job opportunities in the Big Apple, making the move has proven to be a smart and economical decision for many.