The Most Expensive Town in NJ Will Shock You

If I asked you what NJ's most expensive town to live in was, what would be your first guess? I guarantee you're wrong.

As a matter of fact, this town would be at the bottom of my list. According to Yahoo Finance, it's Trenton. Yup, The Garden State's capitol is the priciest. I'll give you a few seconds to let that sink in.

There actually is some methodology behind Yahoo's findings.

Based on recently released price level data from the Bureau of Economic Analysis (BEA), 24/7 Wall St. reviewed the most expensive metropolitan areas in each state. Across all metro areas.

 

Trenton, New Jersey

• City cost of living: 111.5
• State cost of living: 114.1
• City median rent paid: $1,096
• City median household income: $70,857

Even though it is the most expensive city in New Jersey, the cost of living in Trenton is actually lower than the average cost of living across the state. While Trenton’s 370,414 residents pay an average of 11.5% more for goods and services than Americans do nationwide, residents across all of New Jersey pay 14.1% more. Despite a lower cost of living, Trenton residents have higher incomes. The average Trenton resident earns $47,404, nearly $2,000 more than the corresponding figure of $45,552 for all of New Jersey.

Shocker, right? You learn something new everyday!

[Yahoo Finance]