The Cost Of Living In Manchester, New Jersey
Are you thinking of living in Manchester or Manchester Township, New Jersey? In this episode of Real Estate Refined, I’m going to break down the cost of living here in Manchester Township. We’ll look at everything from housing prices to the cost of gas so you know exactly what to expect.
The Cost Of Housing
First, let's talk about the obvious: the cost of housing. One of the first things you'll need to decide is what type of housing you need. Are you single or are you married? Do you have a family? Are you retiring? That's a big one in Manchester.
The cost of housing varies in Manchester Township, New Jersey. If you have any specific questions, please reach out and feel free to ask. I’d love to answer those questions for you. In the meantime, here are a few general guidelines.
Buying And Renting
Currently, the average four-bedroom, two-bath, single-family home in Manchester is selling for about $450,000. The average three-bedroom, two-bath ranch home in Manchester is selling for between $350,000 and $400,000. Manchester Township is also home to a large number of adult communities. Depending on which community you choose, housing in these neighborhoods currently averages between $150,000 and $250,000.
Finding a property for rent in Manchester, New Jersey is still as difficult as it is in Toms River or Bayville. However, you do have a few more opportunities because of the large population of adult communities in Manchester Township. A two-bedroom with one or two baths in an adult community could run you about $2,000 to $2,500 a month. If you're looking for a single-family home to rent, that's even more difficult. Additionally, you’ll be looking at prices of about $3,000 per month.
Don’t forget property taxes; these vary in Manchester by the type of community you live in. For our adult communities, you can expect to pay about $2,000 to $4,000 annually for taxes. In our single-family residential communities and subdivisions, you could be looking anywhere from about $6,000 to $8,000 or more annually for property taxes.
Income Tax, Gas, And Tolls
Now that you have an idea of the cost of housing in Manchester Township, let's talk about the other costs of living in Manchester. The annual state income tax in New Jersey is 6.37% for anybody making from $40,000 up to half a million dollars in annual income.
At the time of this recording, a gallon of gas is averaging about $4.40 a gallon. And yes, you are going to need a car to live in Manchester, New Jersey. There are other miscellaneous fees associated with living in Manchester, but the big one for anybody who's moving from out of state into New Jersey is we do have tolls. You will need to pay tolls when you drive or you will need to buy and pay for your EZ Pass.
Make Manchester, New Jersey Your Home
I hope this video gave you some insight into the cost of living in Manchester Township. If you have any additional questions about selling or buying in Manchester Township, please feel free to reach out and I'd be happy to answer any of those questions.
Don't forget to subscribe to our channel for more information about housing in Ocean County, New Jersey. Stay tuned to the next episode of Real Estate Refined to see what I feature next!