I don't need to tell you that living in New Jersey is expensive.

In some cases, it's painfully 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 people working and playing 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.

We are crammed pretty tight in NJ.

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

We must also mention higher property taxes, income levels, and 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.

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 has only earned about $75,000 more in 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 in the middle of tech country on the San Francisco Peninsula.

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

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

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

According to Bloomberg, Rumson's average household income is $337,696.

The publication added:

Essex County's Short Hills is the wealthiest town in New Jersey, ranked sixth on Bloomberg's list of the country.

The average household income here is $388,760. Bloomberg says: