There are many places in New Jersey that you can retire. Because of its high cost of living, and high tax rates, New Jersey is not a great place to retire. It is home to many small towns and offers plenty of outdoor recreation. There are also easy access to the coast. It's easy to see how it is a wonderful place to live your golden years.
How we chose the best places to retire
Six key factors were considered when narrowing down the top places to retire in New Jersey.
- As much as 5% of the population is over 65
- Median home value
- Living costs
- Healthcare costs
- Crime rate
- Score Amenities
We used third-party sources like the U.S. Census Bureau, Zillow and AreaVibes to compile this data. Although the top-ranked cities in our list aren't in every category, they do rank in the majority of them, which makes them stand out from other New Jersey towns and cities.
New Jersey's Best Places to Retire
1. Bridgeton
- Population: 26,610
- % of the Population Above 65:5%
- Median House Value: $192.746
- Living Costs (Compared to the National Average: 8% Lower
- Healthcare Cost (Compared to the National Average: 9% Lower)
- Crime Rate (Compared with the National Average: 72% Higher)
- Amenities Score A
Bridgeton, located in Cumberland County in the southern portion of New Jersey is a city. It offers affordable housing and quality healthcare at a low cost of life. It has a smaller senior population than the national average and a higher crime rate.
2. Atlantic City
- Population: 38,466
- % of the Population Above 65:1%
- Median House Value: $179.781
- Living Cost (Compared to the National Average: 1% Lower
- Healthcare Cost (Compared to the National Average: 9% Lower)
- Crime Rate (Compared with the National Average: 50% Higher)
- Amenities Score A+
Atlantic City is a well-known place in New Jersey thanks to its beaches and casinos. There are many benefits to Atlantic City, such as its low cost of life, low housing costs and low healthcare costs. It has a smaller senior population than the national average and a higher crime rate.
3. Millville
- Population: 27,638
- % of the Population Above 65:1%
- Median House Value: $196.162
- Living Costs (Compared to the National Average: 2% Lower
- Healthcare Cost (Compared to the National Average: 9% Lower)
- Crime Rate (Compared to the National Average: 72% Higher)
- Amenities Score A+
Millville is located in the southern region of Cumberland County. There are many things it has to offer seniors, such as a large senior population, affordable housing, and affordable healthcare. Millville's crime rate is higher than the national average.
4. Vineland
- Population: 61,156
- % of the Population Above 65:7%
- Median House Value: $243.195
- Living Costs (Compared to the National Average: 2% Lower
- Healthcare Cost (Compared to the National Average: 9% Lower)
- Crime Rate (Compared with the National Average: 5% Higher)
- Amenities Score A+
Vineland, a small city in Cumberland County's southern part of the state, is described as a medium-sized community. It offers several advantages including its low cost-of-living, low housing costs and low healthcare costs. It has a similar crime rate to the national average and a senior population.
5. Surf City
- Population: 1,260
- % of the Population Above 65: 48%
- Median House Value: $1.398,241
- Living Costs (Compared to the National Average: 55% Higher)
- Healthcare Cost (Compared to the National Average: 9% Lower)
- Crime Rate (Compared with the National Average: 29% Lower
- Amenities Score A+
Surf City is located along the coast in Ocean County. Surf City offers a lot for retirees. It has a small population and large senior population. There is also a low crime rate. It is however, one of the most expensive areas in the state with a high cost of living and higher housing costs than the national average.
6. Sea Girt
- Population: 1,725
- % of the Population Above 65: 32%
- Median House Value: $1898,150
- Living Costs (Compared to the National Average: 135% Higher)
- Healthcare Cost (Compared to the National Average: 1% Lower)
- Crime Rate (Compared with the National Average: 68% Lower
- Amenities Score A+
Sea Girt, a small borough located in Monmouth County along the New Jersey coastline is called. Sea Girt, like Surf City is one of the most expensive places in America to live. The cost of housing and living in the borough are significantly higher than the national average. It has a large senior population, and low crime rates.
7. Ellisburg
- Population: 4,722
- % of the Population Above 65: 21
- Median House Value: $336.380
- Living Cost (Compared to the National Average: 12% Higher)
- Healthcare Cost (Compared to the National Average: 1% Lower)
- Crime Rate (Compared with the National Average: 55% Lower
- Amenities Score A+
Ellisburg, in the western half of New Jersey is an unincorporated area in Cherry Hill Township. It offers a lot, with a large senior population and affordable housing. There is also a low rate of crime. Its high cost of living is the only problem.
8. Margate City
- Population: 5,247
- % of the Population Above 65:8%
- Median House Value: $839.914
- Living Costs (Compared to the National Average: 34% Higher)
- Healthcare Cost (Compared to the National Average: 9% Lower)
- Crime Rate (Compared with the National Average: 2%)
- Amenities Score A+
Margate City can be found along the Atlantic County coast in New Jersey. The city's benefits include its large senior population and affordable healthcare. It also has a low crime rate. Margate City has high living costs and higher-than-average housing prices.
9. Weston
- Population: 1,959
- % of the Population Above 65: 77%
- Median House Value: $614 826
- Living Costs (Compared to the National Average: 41% Higher)
- Healthcare Cost (Compared to the National Average: 1% Lower)
- Crime Rate (Compared to the National Average: 84% Lower
- Amenities Score A+
Weston is an unincorporated town in Franklin Township, the northernmost part of New Jersey. It has a large senior population, with more than three quarters of its residents being 65 years old or older. The community also boasts a low rate of crime and lower healthcare costs. Weston's downside is its high cost of living, and the expensive housing.
10. Paramus
- Population: 26,416
- % of the Population Above 65:6%
- Median House Value: $806 899
- Living Cost (Compared to the National Average: 58% Higher)
- Healthcare Cost (Compared to the National Average: 1% Lower)
- Crime Rate (Compared with the National Average: 22% Lower
- Amenities Score A+
Paramus, a New Jersey borough, is located in Bergen County. It is just across the river of New York City. It has a large senior population and lower than average healthcare costs. It has high living costs and expensive housing.
11. Greentree
- Population: 12,012
- % of the Population Above 65:6%
- Median House Value: $467.527
- Living Costs (Compared to the National Average: 26% Higher)
- Healthcare Cost (Compared to the National Average: 1% Lower)
- Crime Rate (Compared with the National Average: 51% Lower)
- Amenities Score A+
Greentree, a unincorporated community in Cherry Hill Township is located in the western region of New Jersey. It has a low rate of crime and a large senior population. The state average housing cost is higher than the average for the community, and its healthcare costs are slightly lower than the national average. Its slightly higher-than-average cost to live is the only problem.
12. Lavallette
- Population: 2,171
- % of the Population Above 65: 40
- Median House Value: $969.128
- Living Costs (Compared to the National Average: 67% Higher)
- Healthcare Cost (Compared to the National Average: 1% Lower)
- Crime Rate (Compared with the National Average: 54% Lower)
- Amenities Score A+
Lavallette, a borough in Ocean County is located along the New Jersey coast. It has an affordable cost of living, a large senior population and lower healthcare costs than the average borough. It has high living costs and expensive housing.
13. Spring Lake Heights
- Population: 4,530
- % of the Population Above 65: 244
- Median House Value: $746.118
- Living Costs (Compared to the National Average: 42% Higher)
- Healthcare Cost (Compared to the National Average: 1% Lower)
- Crime Rate (Compared with the National Average: 88% Lower)
- Amenities Score A+
Spring Lake Heights is located in Monmouth County, New Jersey. It's on the northern coast of New Jersey. It has many advantages, including its large senior population, low healthcare costs and very low crime rates. Spring Lake Heights has a higher-than-average cost to live.
New Providence
- Population: 13,617
- % of the Population Above 65:9%
- Median House Value: $786 969
- Living Cost (Compared to the National Average: 51% Higher)
- Healthcare Cost (Compared to the National Average: 2% Lower)
- Crime Rate (Compared with the National Average: 82% Lower)
- Amenities Score A+
New Providence is located in Union County, in the northern part New Jersey. It has a low rate of crime, lower-than-average healthcare costs and a senior population that is in line with the state average. It also has high living costs and expensive housing.
Next steps for you
It's important that you consider more than where you will live when you retire. You should also ensure that you have the right financial support system in place. The Personal Capital Retirement Planner will help you plan for retirement. It can also tell you how much to save each month in order to achieve your retirement goals.
Get started with the Personal Capital's free financial tools
The author is not a client at Personal Capital Advisors Corporation. He is paid as a freelancer.
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By: Erin Gobler
Title: 14 Best Places to Retire in New Jersey in 2023
Sourced From: www.personalcapital.com/blog/retirement-planning/best-places-to-retire-in-new-jersey/
Published Date: Mon, 22 Aug 2022 18:29:57 +0000
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