Essex County Has Several Of NJ’s Cheapest Places To Live, Study Says

ESSEX COUNTY, NJ — The word “cheap” is a bit of a misnomer when it comes to life in New Jersey, where the cost of living – especially renting or owning a home – is among the highest in the nation. But there are definitely places that are cheaper than others, a recent study claims – and several of them are in Essex County.

The study, conducted by real estate experts at The Robert Dekanski Team, analyzed various factors that contribute to living costs. Each factor was assigned an index score out of 10, including income, property prices, child care, food and transport. Each score was weighted and indexed to produce a total score out of 100. Sources of data for the study included epi.org, bea.gov and Zillow.com.

Several Essex County municipalities ranked among the cheapest on the list: East Orange (5th), Irvington (6th), Bloomfield (8th) and Newark (9th). Here’s what researchers had to say about them:

EAST ORANGE – Monthly health care expenses in East Orange are $431 per month, acquiring the highest possible index score of 10. In addition, monthly child care is also reasonably affordable compared to other cities in the state, costing $798 and an index score of 7.97.

IRVINGTON – Irvington’s monthly housing costs are $1,046 per month on average, giving the city an index score of 9.68. You’ll find other necessities, like entertainment services, will cost $516 per person each month, receiving a high index score of 9.25.

BLOOMFIELD – Bloomfield’s health care costs are $431 on average each month, acquiring an index score of 10. Necessary items such as furnishings are essential to consider when choosing where to live – in Bloomfield, these items will cost you $516 a month, resulting in an index score of 9.25.

NEWARK – If you are considering child care expenses, this will cost $798 a month in Newark, giving the city an index score of 7.97. Newark has one of the lowest average costs for monthly taxes, equaling $601 per person and an index score of 9.88.

“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 lowest cost of living,” a spokesperson from The Robert Dekanski Team commented.

“So many factors contribute to an area's affordability, and there is much to consider when moving or buying a house,” researchers added. “The price of a home isn’t the only aspect to think about, as many things like child care, taxes, food, and transportation costs can contribute to your living expenses. Knowing which factors will affect you the most is imperative if you plan on relocating.”

• See Related: Which Essex County Towns Have Highest Affordable Housing Quotas? (MAP)
• See Related: 13 Renters Compete For Every Apartment In North Jersey, Study Says

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