Housing costs in Monmouth Junction?
A typical home costs
$554,000, which is 63.9% more expensive than the national average of
$338,100 and 28.2% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Monmouth Junction costs
$2,100 per month, which is 46.9% more than the national average of
$1,430 and 18.6% more than the state average of
$1,710.
Can I afford Monmouth Junction?
To live comfortably in Monmouth Junction, New Jersey, a minimum annual income of
$106,200 for a family, and
$66,400 for a single person is recommended.
What does A.I. say about Monmouth Junction?
Monmouth Junction, NJ is a great place to live due to its low cost of living. The median household income is approximately $102,000, which is significantly higher than the national median of $60,000. Despite this high income level, residents enjoy relatively low housing prices and taxes. The median home value in Monmouth Junction is around $368,500 with an average property tax rate of 2.56%. In addition to low housing costs, other expenses associated with living in Monmouth Junction are generally lower than the national average. Groceries and utilities cost less than 3% more than the average in America while transportation costs are 5% lower. Overall, living in Monmouth Junction can be quite affordable for those looking for a good quality of life in New Jersey without breaking the bank.