10 New Jersey Towns Where Homes Cost a Fortune

New Jersey may be one of the smallest states in the country, but there sure is a lot packed into it. From beautiful beaches and charming small towns to easy access to New York City and Philadelphia, New Jersey has a little bit of everything.

And, of course, all of that comes with a price.

Some of the Garden State's most desirable communities come with multi-million-dollar price tags, from exclusive Jersey Shore towns to luxury communities in North Jersey.

Several shore towns landed on this year's list, proving once again that people are willing to pay big money for a slice of New Jersey's coastline, according to Redfin.

Why Are Homes in New Jersey So Expensive?

So, what makes New Jersey homes so expensive?

For starters, it's hard to beat the location. You can spend the morning at the beach, head into New York City or Philadelphia, and still come home to a quiet suburban neighborhood at the end of the day.

New Jersey also offers highly regarded schools, healthcare, restaurants, entertainment, and plenty of things to do.

Then there's the simple fact that there's only so much waterfront property to go around. When you combine limited inventory with strong demand and proximity to major cities, home prices can climb pretty quickly.

The 10 Most Expensive Places to Buy a Home in New Jersey

If you've ever wondered where the most expensive homes in New Jersey are, here are the 10 communities that made this year's list.

1. Avalon

Median Sale Price: $4,495,000

Yep, you read that right. Avalon takes the top spot with a median sale price of nearly $4.5 million.

2. Spring Lake

Median Sale Price: $4,425,000

Spring Lake comes in a very close second, with a median sale price of more than $4.4 million.

3. Short Hills

Median Sale Price: $2,500,000

Moving away from the shore, Short Hills lands in third place with a median sale price of $2.5 million.

4. Stone Harbor

Median Sale Price: $2,450,000

Another Jersey Shore favorite makes the list. Stone Harbor's median sale price comes in at $2.45 million.

5. North Beach Haven

Median Sale Price: $2,175,000

North Beach Haven is also among New Jersey's priciest places to call home, with a median sale price of $2.175 million.

6. Cresskill

Median Sale Price: $1,930,250

Cresskill comes in at number six, with homes selling for a median price of just over $1.93 million.

7. Norwood

Median Sale Price: $1,879,000

Norwood isn't far behind, with a median sale price of $1.879 million.

8. Glen Ridge

Median Sale Price: $1,825,000

Glen Ridge makes the top 10 with a median sale price of $1.825 million.

9. Franklin Lakes

Median Sale Price: $1,815,000

Franklin Lakes rounds out the list of communities where buyers are paying a median price of more than $1.8 million.

10. Beach Haven

Median Sale Price: $1,712,500

And coming in at number 10 is another Long Beach Island community. Beach Haven has a median sale price of $1.7125 million.

Ocean County residents probably aren't surprised to see Long Beach Island communities on the list. The beautiful beaches, coastal charm, and limited amount of waterfront real estate make the area one of the most sought-after housing markets in New Jersey.

Keep Reading: New Jersey Don't Say "Yes", When Answering this Call

And when there are plenty of buyers but not nearly as many homes available, prices can get pretty high.

It's also easy to see why people are willing to pay a premium. These communities offer some of the things people love most about New Jersey, including oceanfront living, highly rated schools, luxury amenities, and convenient access to major cities.

Of course, a million-dollar—or multi-million-dollar—home isn't in everyone's budget. But for the people who can afford it, living in one of New Jersey's most desirable communities is about more than buying a house.

It's about the location, the lifestyle, and getting to enjoy a little piece of what makes New Jersey such a special place to call home.