This is the cheapest place to buy a home in New Jersey

Finding a house you can afford can be difficult in New Jersey with limited inventory, high demand, and higher interest rates. Of course, the size of the home and its location go a long way toward determining the price.

In New Jersey, like in most states, some towns are cheaper than others when it comes to house prices. GoBankingRates decided to find the cheapest town for home buyers in each state:

To find the least expensive places to buy a home, GOBankingRates used data from Zillow Home Value Index (ZHVI) and the U.S. Census Bureau regarding population in order to analyze every significant city in all 50 states and chose the one place in each locale where houses are a steal.

Keep in mind that, according to Zillow, the average home price in New Jersey is $459,481.

After crunching the numbers, GoBankingRates determined that the town in New Jersey with the least expensive houses is: Camden

⚫ 2023 ZHVI: $111,456.76
⚫ Total Population: 72,381

According to Zillow, 60.8% of homes sell for over list price; homes average 18 days to pending. Homes cost 7.8% more this year than last.

Redfin reports that, on average, the number of homes sold was down 14.5% year over year and there were 7,425 homes sold in October this year, down 8,687 homes sold in October last year. The median days on the market was 37 days, down 9 year over year.

Apparently the news is out about Camden’s affordability; according to Redfin, Camden has the fastest-growing sales price in the state at 63%.

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Bill Doyle only.

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