The numbers are in and they’re brutal.
According to a 2025 report from SmartAsset, if you live in New Jersey and want a lifestyle that’s more than just survival, here’s what you’re up against:
- Single Adult: $108,992/year
- Family of Four: $282,714/year
This isn’t about luxury. It’s about being able to meet your needs, save for the future, and not feel like you’re drowning.
🤔 What Does “Living Comfortably” Actually Mean?
SmartAsset used the 50/30/20 budget model, a simple but powerful way to look at personal finances:
- 50% Needs → Housing, food, transportation, insurance, and healthcare
- 30% Wants → Dining out, entertainment, hobbies, travel
- 20% Savings or Debt Repayment → Retirement, emergency fund, or paying off credit cards/student loans
This model assumes you’re not just scraping by, you’re building a life with options.
But here’s the problem:
The cost to do that in New Jersey just jumped 12.55% in one year. That’s the second-highest increase in the U.S.
📉 Why This Matters
If you’re a homeowner, it probably feels like your house is eating your paycheck. Between rising property taxes, insurance hikes, utilities, and inflation, many people are quietly wondering:
“Can I actually afford to stay here?”
You’re not alone.
Let’s talk about what you can do not just to cut costs, but to take control.
🧩 Real Options for NJ Homeowners
I’m a hybrid real estate agent and investor. That means I don’t push one-size-fits-all solutions. I walk you through your options so you can make an informed choice that aligns with your life, not mine.
Here’s what that can look like:
1️⃣ Sell on the MLS (Traditional Listing)
- Maximize equity if the home’s in good shape
- Slower process, but may net more cash
- Great if you’re not in a rush
2️⃣ Sell As-Is to an Investor
- Fast close, no repairs, no showings
- Great for homes in rough shape
- You trade top dollar for convenience
3️⃣ Shared Equity Agreement
- Partner with an investor who funds the renovations
- You sell for more later and split the profit
- Ideal if you want upside but lack upfront capital
4️⃣ Seller Financing
- You “become the bank” and collect payments monthly
- Best if you own the home outright or have low debt
- Generates passive income and defers capital gains
5️⃣ Consider Relocating
SmartAsset’s report shows West Virginia, Arkansas, and South Dakota all require $100k+ less per year to live comfortably.
That’s a life-changing margin, especially for retirees or remote workers.
🧠 Final Thought
If you’re starting to feel like living in NJ is becoming unsustainable… you’re not imagining things.
But you’re also not trapped.
The system shifted. The numbers prove it. Now it’s about strategy.
You don’t need a sales pitch. You need a breakdown of your real options.
When you’re ready for that conversation, I’m here.
📲 (201) 214-1349
🌐 njhousepartners.com
Source: SmartAsset 2025 Cost of Living Report