NJ Top 10 'Most Affordable' Towns: List

NEW JERSEY — Bellyaching about the Garden State's cost of living is a favorite pastime of New Jerseyans across the state, but a recent SmartAsset analysis found residents of some areas might not have it quite so bad.

SmartAsset looked at factors such as average annual mortgage payment, median income and property taxes when determining which New Jersey municipalities were the most affordable.

New Jersey’s average annual mortgage payment is about $13,225, but none of the top 10 most affordable cities surpassed $9,994, according to a SmartAsset statement. Closing costs, property taxes and homeowner's insurance costs were also lower in those areas.

The following are New Jersey’s 10 most affordable municipalities, according to SmartAsset:

1. Ashland
2. Crestwood Village
3. Yardville
4. Browns Mills
5. Pomona
6. Gloucester City
7. Twin Rivers
8. Stratford
9. Ramtown
10. Berlin

Click here to see the full list.

But while the cost of living may be lower in the 10 most affordable areas, wages aren’t necessarily lower there, according to SmartAsset.

New Jersey's median income is about $82,545, and five municipalities in the top 10 saw higher pay: Ashland ($104,223), Yardville ($107,229), Twin Rivers ($89,746), Ramton ($124,426) and Berlin ($97,003).

Five cities on SmartAsset's list saw significantly lower median incomes: Crestwood Village ($29,671), Browns Mills ($63,833), Pomona ($82,191), Gloucester City ($59,394) and Stratford ($79,677).

With reporting by Courtney Teague.

View the complete SmartAsset analysis here.