New Jersey Living Report — July 20, 2026

With nearly 9.25 million residents spread across 113 tracked municipalities, New Jersey offers a density and diversity that defy its small footprint. It’s a state where the average age hovers around 40, and the poverty rate sits at a relatively low 9.5% — a sign of broad economic stability. But for anyone considering a move here, the numbers that matter most are the ones that hit the wallet.

The cost of living is a mixed bag. A one-bedroom apartment rents for a median of $1,577 per month, which, when measured against the state’s median household income of $97,126, works out to about 19.5% of monthly earnings. That’s well under the 30% threshold that housing experts consider affordable, suggesting that renters earning the median income have room to breathe. For homebuyers, however, the math gets tighter. The median home value is $401,400 — a figure that has climbed steadily over the past decade, placing homeownership out of reach for many younger workers unless they have dual incomes or significant savings.

Despite those real estate pressures, New Jersey’s job market remains robust. The unemployment rate in May 2026 was just 4.2%, slightly above the national average at the time but still indicative of a competitive labor environment. The state’s economy is anchored by industries like pharmaceuticals, logistics, finance, and health care, thanks to its proximity to New York City and Philadelphia. That geographic advantage also explains why New Jersey continues to attract a mix of people: suburban families seeking good public schools, commuters who prefer a quieter base near Manhattan, retirees drawn to the shore towns, and a growing cohort of remote workers who relocate here for lower taxes relative to New York while keeping city connections.

Quality of

Explore New Jersey Cities

Browse utility costs, housing data, Census demographics, and climate data for all 113 tracked cities in New Jersey.

View all New Jersey city guides →

Data: US Census Bureau ACS 2022, BLS. Updated July 20, 2026.

Get your home essentials, storage, and moving supplies delivered.

Shop Moving Essentials

As an Amazon Associate I earn from qualifying purchases.