You can still afford a home in this NJ town, but you gotta hurry

Everyone knows that the median home price in New Jersey is higher than it is in most of the country.

You may think that you are priced out of the New Jersey real estate market and are resigned to renting for the rest of your life, but there still is some good news.

Dennis Malloy / Townsquare Media

Gloucester City is a town that doesn’t get much attention but it has a lot to offer. Especially for a town with homes that are so affordable. unfortunately, since the secret has been, let out, prices have come up, just a tad.

And even though the real estate market is in somewhat of a holding pattern, people are starting to buy up Gloucester City.

However, you can still snag some great deals there. A historic working-class community with great views of the Philly skyline, it’s a hop skip and a jump away from the big city but with all the advantages of the suburbs.

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It boasts the Gloucester City Marina of Camden County which was developed for recreational boating. Not only that but at least until August 2024, the town maintains the status of an urban enterprise zone which means the sales tax charged there is half of the general sales tax of NJ which is 6.625%.

Not only that, Gloucester City High School was named one of America’s top high schools by US News and World Report.

The median home value is around 207k, which, even though it represents a 17% increase since a year ago, is significantly below the national average.

The homes tend to be old but with plenty of charm and some of them even border on grand.

Surprisingly, many homes are priced in the $150-175 thousand range.

A drive through Gloucester City will give you a feeling of the good old days, with a home price tag to boot.

LOOK: Cities with the most expensive homes in New Jersey

Stacker compiled a list of cities with the most expensive homes in New Jersey using data from Zillow.

Gallery Credit: Stacker

How much does the average NJ home cost? Median prices by county

Everything is costing more these days — and housing is certainly no exception in New Jersey.

Data for 2023 from January through May, compiled by New Jersey Realtors, shows that homes hit the market and sell in two months or less, on average.

Median prices for single-family homes have reached $500,000 and above in nine counties.

Most counties have seen houses go for more than the list price this year, while the rest have been very close to asking — on average.

Gallery Credit: Erin Vogt

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Judi Franco only.

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Source: You can still afford a home in this NJ town, but you gotta hurry