I don't need to tell you that it's expensive to live in New Jersey.

In some cases, it's extremely expensive to live in the Garden State.

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Why so pricey? Location. Location. Location.

One of the most expensive cities in the world is a short bus or car ride away. New York City.

With so many that work and play in The Big Apple, it would make sense that living in less expensive New Jersey would be a good choice.

Another reason Jersey is so expensive is the demand for housing. For better or worse, we are crammed pretty tight in NJ.

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Couple desire for homes with limited land and you get higher real estate prices.

We can't forget to mention higher property taxes, higher income levels, and, higher quality of life compared to other parts of the country.

Bloomberg released its 2020 Richest Places Index.

Two well-known, but smaller New Jersey towns made the list.

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The American town that captured the top spot in 2020 has a massive $525,000 average household income.

This growing town is booming fast. The average home pulled in about $75,000 more in only the past three years.

Of course, it helps that billionaires from Facebook and Google live in town and Tesla also operates its headquarters here.

Have you heard of Atherton, California?

Atherton is right in the middle of tech country on the San Francisco Peninsula.

The New Jersey towns that made Bloomberg's top 20 wealthiest towns aren't as wealthy as Atherton, but they're close.

Where are New Jersey's most expensive towns to live in?

First up at number 13 is Monmouth County's Rumson, NJ.

According to Bloomberg, the average household income for Rumson is $337,696.

The publication added:

Located in Monmouth County, New Jersey, Rumson boasts a population of just over 7,000 (as of 2020). The New York suburb has been home to several American celebrities, including Bruce Springsteen.
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The wealthiest town in New Jersey and number six on Bloomberg's list of the country is Essex County's Short Hills. The average household income here is $388,760. Bloomberg says:

The median home value in this New York City suburb is just under $1,750,000, according to Zillow. Phillip Roth’s first book, Goodbye, Columbus, was largely set in Short Hills. Some notable Americans who have called the Essex County, New Jersey, townhome include actress Anne Hathaway and fashion designer Rachel Zoe.

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Gallery Credit: Matt Ryan

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