NJ · Rank 9 of 50 affordable
Can teachers afford to live in New Jersey?
Yes — manageable.
The average New Jersey teacher earns $80,517 per year. A typical 2-bedroom rents for about $1,972/mo, which is 29% of gross monthly pay. The 30% rule is the standard healthy benchmark.
Avg Teacher Salary
$80,517
Cost-of-Living Index
116
US avg = 100
Affordability Score
52/100
Renting in New Jersey
2BR Rent / mo
$1,972
Annual Rent
$23,664
% of Salary
29%
Left after rent
$4,738/mo
Green zone is under the 30% healthy housing benchmark.
Buying a Home in New Jersey
Median Home Price
$487,200
10% Down
$48,720
P&I (7%, 30yr)
$2,917/mo
Full PITI
$3,506/mo
Estimated mortgage payment as a share of average teacher monthly gross pay, including taxes & insurance.
Estimates assume a 10% down payment, 7% 30-year fixed rate, 1.1% property tax, and 0.35% home insurance. Actual rates and prices vary by district and metro area.