How Did New Jersey Make the List of Cheapest States to Raise a Family?
What? Is this a goof? Let me read that again, I must have missed something. New Jersey is one the ten cheapest states in America to raise a family? Yep, that's what it says.
Those other states must be really expensive! If Jersey really is so cheap, why have all those people I've known over the years moved away - south, west, north, anywhere, except New Jersey, because they thought it was a crazy expensive place to live? Cray cray, baby!
A recent blog from Huffington Post reported the claim. The statistics come from GOBankingRates.com, a company with a name that makes you think they might have some idea what they are talking about. I'm not so sure this time.
They place New Jersey as #10 on the list, just behind South Dakota, Iowa and #1 Tennessee in affordability.
The study points to New Jersey's relatively high state median income of over $65,000 and the state's 6 weeks of paid family leave benefit.
But, what about New Jersey's blistering property taxes, some of the highest in the nation? How 'bout that 7% sales tax, the new 23¢ a gallon gas tax, and the tolls, tolls and more tolls?
And if you plan to house that family in New Jersey, good luck. The cost of renting an apartment worth living in is exorbitant, and the price of buying a home in many area puts them out of the range of a family making only $65K a year.
I would question that median income number, too. Maybe the really rich folks in north Jersey make so much money, they boost the amount of the average family income statewide. In other words, quite a few South Jersey families get by on less than $65,000 a year.
Don't get me wrong, my family loves New Jersey, and we don't plan on leaving anytime soon. But that's not because it such a good bargain to live here.
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