Suppose real estate is the most significant investment a majority of people make in their lifetime. In that case, it’s best to understand the places in New Jersey with best potential return on investment.
After working in real estate adjacent roles for over a decade, I had the hypothesis that the best place to buy for a return on investment would be up-and-coming cities. Smaller cities where crime might be high now, but people still move to.
To test my hypothesis, we are going to look at places in New Jersey that are growing faster than average, but where home prices are below average, and crime rates are higher than average.
In everyday terms, these might be “deals”. The best deal in New Jersey at the moment according to Saturday Night Science? That would be Salem.
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Best Places To Buy A Home In New Jersey For 2024
The methodology that wen’t into this can be a bit complicated, so we’ll break it down for you in as much detail as we can below.
For more New Jersey reading:
- Best Counties To Live In New Jersey
- Best Places To Raise A Family In New Jersey
- Best Places To Retire In New Jersey
The 10 Best Cities To Buy A House In New Jersey For 2024
/10
/10
3. Wildwood
/10
Population: 5,164
Median Home Price: $549,726
Population Change: 1.0%
Home Price Change: 5.8%
More on Wildwood: Real Estate
/10
Population: 5,864
Median Home Price: $384,546
Population Change: 0.2%
Home Price Change: 2.9%
More on Hight: Data | Real Estate
/10
Population: 5,347
Median Home Price: $1,437,753
Population Change: -0.2%
Home Price Change: 1.8%
More on Englewood Cliffs: Data | Crime | Cost Of Living | Real Estate
/10
Population: 5,751
Median Home Price: $437,728
Population Change: -0.5%
Home Price Change: 4.6%
More on Union Beach: Data | Crime | Cost Of Living | Real Estate
/10
Population: 5,524
Median Home Price: $307,227
Population Change: 0.9%
Home Price Change: 10.0%
More on Somerdale: Data | Crime | Cost Of Living | Real Estate
/10
Population: 5,877
Median Home Price: $853,550
Population Change: 0.1%
Home Price Change: 8.5%
More on Belmar: Data | Crime | Cost Of Living | Real Estate
/10
Population: 6,119
Median Home Price: $795,055
Population Change: 0.1%
Home Price Change: 7.0%
More on Oceanport: Data | Crime | Cost Of Living | Real Estate
/10
Population: 5,863
Median Home Price: $462,369
Population Change: 0.9%
Home Price Change: 1.1%
More on Mount Arlington: Data | Crime | Cost Of Living | Real Estate
Methodology: How do you determine the best places to buy a home in New Jersey for 2024?
We were in real estate for almost five years and have worked on this site for another 9. Suffice it to say we’ve put a lot of thought into finding an excellent place to buy a home.
So all that thinking has come to this moment where we get to spell out how we’d approach finding an up-and-coming place to live in New Jersey. Put differently, the analysis will try to find places in New Jersey with undervalued homes relative to pent-up demand using Saturday Night Science.
To do that, we looked at the most recent American Community Survey Census data for 2018-2022 and compared it to the previous vintage. Specifically, we used the following criteria:
- Y-o-Y Change In Population (People want to live here)
- Y-o-Y Change In Median Home Prices (People are willing to pay for it)
- Home Prices Relative To The State Average (It’s still kinda cheap)
We want places that are growing, have seen home prices increase in recent years, and are still “cheap” for New Jersey with the following caveats:
- Home prices had to be within 20% of the state average (Much lower than that, and you get to some of the more dangerous places)
- Home prices increased in the last year, and
- Above 5,000 people (Bigger cities have more data points)
So of the 0 cities and towns in New Jersey, only 190 places made it through our initial filters to even be considered.
We then ranked each place from 1 to 190 for the above criteria, with 1 being the best. We averaged the rankings to create a “best place to buy” index, with the place having the lowest index being the best.
Turns out that Salem is the best potential gem in the not-so-rough in the Garden State.
Summary: The Best Places To Purchase A House In New Jersey for 2024
There’s our analysis of the best places to buy a house in New Jersey. And, to be clear, we aren’t necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.
In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.
The best cities to buy a house in New Jersey are Salem, Clementon, Wildwood, Hight, Englewood Cliffs, Union Beach, Somerdale, Belmar, Oceanport, and Mount Arlington.
So if we’d could rent or buy in these cities, we’d definitely buy.
For more New Jersey reading, check out:
Best Places To Buy A Home In New Jersey
| Rank | City | Population | Median Home Price | Population Change | Home Price Increase |
|---|---|---|---|---|---|
| 1 | Salem | 5,285 | $190,963 | 0.9% | 13.9% |
| 2 | Clementon | 5,312 | $270,554 | 0.8% | 9.6% |
| 3 | Wildwood | 5,164 | $549,726 | 1.0% | 5.8% |
| 4 | Hight | 5,864 | $384,546 | 0.2% | 2.9% |
| 5 | Englewood Cliffs | 5,347 | $1,437,753 | -0.2% | 1.8% |
| 6 | Union Beach | 5,751 | $437,728 | -0.5% | 4.6% |
| 7 | Somerdale | 5,524 | $307,227 | 0.9% | 10.0% |
| 8 | Belmar | 5,877 | $853,550 | 0.1% | 8.5% |
| 9 | Oceanport | 6,119 | $795,055 | 0.1% | 7.0% |
| 10 | Mount Arlington | 5,863 | $462,369 | 0.9% | 1.1% |
| 11 | Norwood | 5,657 | $747,730 | -0.2% | 3.1% |
| 12 | Little Silver | 6,104 | $936,174 | 0.0% | 6.3% |
| 13 | Fair Haven | 6,221 | $1,262,730 | -0.2% | 8.5% |
| 14 | Woodcliff Lake | 6,096 | $1,021,125 | -0.3% | 6.0% |
| 15 | Manasquan | 5,921 | $1,004,601 | -0.2% | 5.8% |
| 16 | Roseland | 6,221 | $686,003 | -0.3% | 5.6% |
| 17 | Prospect Park | 6,299 | $444,922 | -0.0% | 8.5% |
| 18 | Jamesburg | 5,783 | $391,126 | -0.0% | 12.0% |
| 19 | Paulsboro | 6,195 | $198,943 | -0.6% | 8.6% |
| 20 | Morris Plains | 6,104 | $620,521 | 0.4% | 8.9% |
| 21 | Margate City | 5,331 | $892,163 | -1.3% | 11.9% |
| 22 | Old Tappan | 5,863 | $993,658 | -0.1% | 3.0% |
| 23 | Watchung | 6,417 | $905,582 | -1.0% | 7.4% |
| 24 | Carlstadt | 6,341 | $578,158 | -0.3% | 1.8% |
| 25 | Rockaway | 6,589 | $488,557 | 0.0% | 5.2% |
| 26 | Wharton | 7,217 | $427,591 | 0.6% | 9.1% |
| 27 | Washington | 7,240 | $256,199 | 0.9% | 6.7% |
| 28 | North Caldwell | 6,625 | $1,001,940 | -0.1% | 4.7% |
| 29 | Barrington | 7,022 | $324,789 | -0.1% | 10.9% |
| 30 | Linwood | 6,952 | $417,000 | -0.1% | 9.1% |
| 31 | Allendale | 6,817 | $891,873 | -0.0% | 5.6% |
| 32 | Rumson | 7,285 | $1,812,105 | -0.1% | 7.8% |
| 33 | Mountainside | 6,991 | $851,670 | -0.2% | 5.9% |
| 34 | Stratford | 6,962 | $297,326 | -0.1% | 9.9% |
| 35 | Mil | 7,017 | $501,899 | -0.0% | 12.3% |
| 36 | Keyport | 7,188 | $420,902 | -0.2% | 6.8% |
| 37 | Palmyra | 7,437 | $266,511 | 0.1% | 11.5% |
| 38 | Dunellen | 7,598 | $449,110 | 0.2% | 8.1% |
| 39 | Midland Park | 7,022 | $623,608 | -0.3% | 6.0% |
| 40 | Haddon Heights | 7,484 | $429,614 | 0.4% | 12.7% |
| 41 | Berlin | 7,489 | $342,726 | 0.1% | 8.2% |
| 42 | Glen Ridge | 7,797 | $970,075 | 0.4% | 3.7% |
| 43 | Emerson | 7,281 | $655,975 | -0.5% | 5.8% |
| 44 | Bernardsville | 7,888 | $890,901 | 0.3% | 8.7% |
| 45 | Butler | 8,045 | $474,719 | 0.3% | 7.4% |
| 46 | Fanwood | 7,723 | $651,607 | -0.1% | 5.0% |
| 47 | Raritan | 8,301 | $469,041 | 3.9% | 6.9% |
| 48 | West Long Branch | 8,547 | $856,215 | 0.9% | 7.7% |
| 49 | Newton | 8,370 | $393,001 | -0.6% | 6.3% |
| 50 | Caldwell | 8,897 | $625,878 | 1.1% | 6.5% |
| 51 | Bloomingdale | 7,726 | $459,891 | -0.4% | 8.6% |
| 52 | Northfield | 8,432 | $339,039 | 0.2% | 10.1% |
| 53 | Oradell | 8,208 | $793,885 | -0.3% | 4.2% |
| 54 | Kenilworth | 8,345 | $532,095 | -0.4% | 4.5% |
| 55 | Upper Saddle River | 8,313 | $1,204,841 | -0.5% | 3.6% |
| 56 | Spotswood | 8,136 | $457,158 | -0.3% | 8.6% |
| 57 | Haledon | 8,945 | $462,758 | 0.1% | 8.5% |
| 58 | Runnemede | 8,307 | $275,560 | -0.1% | 12.2% |
| 59 | Bogota | 8,940 | $503,090 | 1.2% | 5.5% |
| 60 | North Haledon | 8,801 | $617,950 | -1.0% | 7.1% |
| 61 | Absecon | 9,086 | $295,803 | 0.5% | 9.7% |
| 62 | Boonton | 8,781 | $567,031 | 0.1% | 6.7% |
| 63 | Montvale | 8,413 | $787,501 | 0.0% | 6.7% |
| 64 | Closter | 8,555 | $917,085 | -0.2% | 7.8% |
| 65 | Audubon | 8,695 | $336,856 | 0.0% | 11.2% |
| 66 | Clayton | 8,801 | $269,019 | -0.2% | 9.3% |
| 67 | Matawan | 9,546 | $563,446 | 0.6% | 8.3% |
| 68 | Cresskill | 9,105 | $824,668 | 0.1% | 3.2% |
| 69 | Park Ridge | 9,098 | $706,489 | 1.2% | 7.2% |
| 70 | Brigantine | 7,784 | $625,871 | -1.3% | 8.3% |
| 71 | Chatham | 9,199 | $1,092,337 | -0.1% | 5.7% |
| 72 | Pitman | 8,805 | $317,191 | -0.1% | 9.8% |
| 73 | South Amboy | 9,336 | $438,770 | 0.2% | 7.5% |
| 74 | Wood-Ridge | 9,978 | $617,275 | 1.1% | 4.3% |
| 75 | Leonia | 9,273 | $726,904 | -0.1% | 4.2% |
| 76 | Hackett | 10,111 | $387,387 | -1.1% | 2.6% |
| 77 | Maywood | 10,040 | $569,144 | -0.1% | 3.6% |
| 78 | Keansburg | 9,761 | $323,954 | -0.2% | 4.5% |
| 79 | East Rutherford | 10,020 | $553,445 | 1.0% | 2.1% |
| 80 | Woodbury | 9,981 | $289,967 | -0.9% | 9.0% |
| 81 | Burlington | 9,833 | $241,128 | 0.3% | 8.6% |
| 82 | Kinnelon | 9,986 | $745,748 | -0.1% | 5.4% |
| 83 | Ventnor City | 9,285 | $510,990 | -0.5% | 9.0% |
| 84 | Waldwick | 10,068 | $600,598 | -0.2% | 5.3% |
| 85 | Manville | 10,892 | $410,651 | 0.3% | 8.9% |
| 86 | Lincoln Park | 10,884 | $465,030 | 0.1% | 10.7% |
| 87 | Somers Point | 10,482 | $360,383 | 0.1% | 14.9% |
| 88 | Bound Brook | 11,906 | $429,343 | 0.9% | 8.8% |
| 89 | Hillsdale | 10,125 | $698,480 | -0.4% | 5.7% |
| 90 | Pine Hill | 10,698 | $237,936 | 0.6% | 11.2% |
| 91 | Little Ferry | 10,954 | $496,208 | -0.2% | 8.5% |
| 92 | Totowa | 10,975 | $558,674 | -0.3% | 5.9% |
| 93 | Pompton Lakes | 11,052 | $464,830 | -0.5% | 7.5% |
| 94 | Franklin Lakes | 11,007 | $1,396,762 | -0.2% | 5.3% |
| 95 | Ocean City | 11,260 | $1,016,356 | 0.4% | 0.1% |
| 96 | Westwood | 11,241 | $617,848 | -0.2% | 4.2% |
| 97 | Ridgefield | 11,465 | $677,879 | -0.1% | 3.0% |
| 98 | Gloucester City | 11,435 | $207,729 | -0.0% | 17.7% |
| 99 | Beachwood | 10,933 | $402,754 | 0.6% | 8.2% |
| 100 | Guttenberg | 11,765 | $391,216 | -0.6% | 4.0% |