An influx of people priced out of Manhattan and Brooklyn are relocating across the river to New Jersey. With Manhattan only a brief PATH or bus ride away, many NYC residents are taking the plunge and trading in their city zip codes for New Jersey ones. By switching to New Jersey living, not only are they able to save money on rent, but they’re also upgrading to larger apartments or homes with more living space. According to Coldwell Banker, the average rent for a two-bedroom Manhattan apartment is $3,400 a month compared to a three-bedroom in Union County, New Jersey for $1,500 a month and in Essex County for $1,450 a month. With price differences that drastic, it’s easy to see why so many people are taking the plunge and moving out of the city. If you’re thinking of relocating to suburban New Jersey, here are a few options to consider.
Hoboken is often jokingly referred to as the sixth borough of New York. It’s just a quick PATH or ferry ride to Manhattan and its close proximity to the Financial District makes it highly desirable. Rent averages around $2,031 a month for a studio apartment, so you’ll get a break from Manhattan’s high rent prices. If you’re looking for a social scene, it’s said that Hoboken has more bars per capita than any other city in the United States.
2. Jersey City
Jersey City has quickly become the new Williamsburg, with young professionals and artists alike taking up residence here. The housing market has skyrocketed over the past few years and in the last year alone Zillow reports that it has increased 21%. The commute to Manhattan is a huge selling point of the area, as the PATH takes you to Penn Station in just over half an hour. On top of the fairly easy commute, the average studio apartment is around $1,172 a month, so you’ll be saving quite a bit in comparison to Manhattan prices.
What was once known for its cliffs and marshlands is now home to a completely different scene. New condominiums and apartment buildings are popping up all over Weehawken, as Manhattan residents are seeking a quieter place to call home. While this area is a bit less urban than Hoboken and Jersey City, you will still have a city-like feel, with an amazing view of Manhattan to boot. As far as commuting goes, you can catch a ferry for an eight-minute ride to Manhattan, an 11-minute bus, or you could also take the light rail to the PATH train, making it a shorter commute than from most Brooklyn neighborhoods. In addition, rent averages around $1,231 a month for a studio apartment and $1,750 for a one-bedroom.
4. West New York
Don’t let its name fool you, this town is indeed in New Jersey. Located directly west of Manhattan, this bustling township has beautiful city views from the waterfront apartment complexes situated along Boulevard East. The town also offers affordable housing options (the average rent prices are around $1,345 for a one-bedroom) and has a quick commute into the city. If you’re able to score a waterfront loft, you’ll be close enough to the action that you’ll hardly miss Manhattan living. The one drawback to this town, is it’s very densely populated and with more and more people moving out of Manhattan, the population is only increasing.
If you’re really looking for a change of pace from the hustle and bustle of city life, Montclair, NJ might just be your next move. With a quick 29-minute commute into Penn Station on The New Jersey Transit Midtown Direct train, this New Jersey town is quickly becoming a new scene for Brooklyn expats that are ready to leave the city life behind them. With a charming downtown, museums, and multiple parks, you’ll still be able to experience all the joys of city life without the high rent prices. A single-bedroom apartment runs around $1,580 a month, and the median sale price for a home is $595,500.