These NJ Cities Are The Most Expensive To Live In, New Study Says

NEW JERSEY — A new study has revealed which New Jersey cities are most expensive to live in and Hoboken took the top spot.

The study conducted by New Jersey real estate firm The Robert Dekanski Team looked at several factors to determine how much it would a person to live in several New Jersey cities.

Researchers looked at several factors including the average annual income of residents and the cost of property, childcare, food and transportation. Each factor was then assigned a score for a possible overall total of 100. The lower the overall score, the more it costs to live there, according to the study.

"New Jersey is known to be one of the more expensive states to live in, so it is interesting to see which areas of the state have the highest cost of living. So many factors contribute to an area's affordability, and there is much to consider when moving or buying a house," a spokesperson for The Robert Dekanski Team said in a statement. "Knowing which factors will affect you the most is imperative if you plan on relocating."

Hoboken scored lowest on the index, making it the most expensive city in the Garden State to live in. With a final score of 46.45, the monthly cost for housing in Hoboken is $1,765 per person and the median price to buy property in the city is $969,000. At a staggering $848 per person, monthly taxes in the city also received an index score of zero.

Hoboken was followed by Jackson in Ocean County, which received a score of 46.61. Meanwhile, Jersey City is the third most expensive town to live in, scoring 47.36.

Here's a look at the complete list by city, including each score:

1. Hoboken: 46.45
2. Jackson: 46.61
3. Jersey City: 47.36
4. Lakewood: 47.80
5. Brick: 48.30
6. Union City: 48.91
7. Middletown: 49.21
8. Howell: 49.25
9. Parsippany-Troy Hills: 49.74
10. North Bergen: 50.04
11. Bayonne: 50.74
12. South Toms River: 52.58
13. West New York: 53.01
14. Edison: 54.43
15. New Brunswick: 55.39
16. Piscataway: 56.33
17. Perth Amboy: 56.65
18. Union: 56.67
19. Old Bridge: 57.11
20. Woodbridge: 57.87
21. Wayne: 58.19
22. Elizabeth: 58.29
23. Passaic: 58.36
24. Paterson: 58.49
25. Clifton: 58.56
26. Trenton: 59.52
27. Cherry Hill: 59.59
28. Plainfield: 60.50
29. Newark: 60.56
30. Bloomfield: 61.86
31. Camden: 62.10
32. Irvington: 62.31
33. East Orange: 62.32
34. Franklin: 62.77
35. Gloucester City: 62.97
36. Hamilton: 64.45
37. Vineland: 67.94

Analysts collected data using several sources including the Economic Policy Institute, the U.S. Department of Commerce and Zillow.com.