The Cost Of Living In Bayville, New Jersey
Are you thinking about living in Bayville, New Jersey, and are curious about what it costs? In this episode of Real Estate Refined, I’m going to break down the cost of living in Bayville so you know exactly what to expect. We’re going to share everything from the cost of housing to the cost of gas and everything else in between.
First, let's talk about the cost of housing here in Bayville. Are you single or are you retired? Do you have a family? The cost of housing varies depending on your particular circumstances. If you want to reach out to me personally, I'd be happy to answer your personal questions. To get you started, here are some general guidelines.
The average four-bedroom, two-and-a-half-bath, single-family home is roughly between $400,000 and $500,000. The average three-bedroom, two-bath ranch home is currently between $300,000 to $400,000. Our average townhome is selling somewhere in the neighborhood of about $200,000.
Adult Communities And Rentals
Berkeley Township (where Bayville is located) is also home to a large retirement population. Both Silver Ridge Park and Holiday City have homes here in Berkeley Township, and we have a large adult community population. The average two-bedroom, two-bath in these communities is currently selling anywhere from $250,000 to $350,000.
Right here in Bayville is our favorite little adult community, Sonata Bay. We're currently seeing prices over $400,000. In contrast to these homes are rentals—which are even harder to find than single-family homes. The average rent in Bayville is somewhere between $2,500 to $3,500 a month, depending on the size of the house.
Waterfront Homes And Property Taxes
Since Bayville is located on the Jersey Shore right off the Barnegat Bay, the closer you get to the lagoons and the closer you get to the bay the higher the prices are going to be. Your waterfront homes are going to be just a little bit more than your nonwaterfront homes.
Property taxes in Bayville do vary, but you can expect to pay between $5,000 to $6,000 for non-waterfront homes. If they're bigger homes over 3,000 square feet, that number can go up to $7,000 or $8,000. Of course, as you move closer to the lagoons and water, taxes go up in relation to the sales prices.
Taxes, Gas, And Tolls
I hope that gives you an idea of the cost of housing here in Bayville, New Jersey. Of course, there are a few other costs you’ll want to consider when living in Bayville. First, the annual state income tax in New Jersey is 6.37% for anybody making between $40,000 to half a million dollars a year.
At the time of this video, a gallon of gas is averaging about $4.40 a gallon. And yes, you do need a car in Bayville. As I mentioned, you're going to spend a lot of time on Route 9. Additionally, the annual sales tax in New Jersey is currently 6.625%.
The biggest unexpected cost (if you're not familiar with Bayville) is that once you get off Route 9 and get on the Garden State Parkway, you're going to have to pay tolls.
Make Bayville Your Home
I hope this gave you some insight into the cost of living in Bayville, New Jersey. If you're interested in selling or buying in Bayville, please feel free to reach out and we'd be happy to assist you.
Don't forget to subscribe to my channel and check out some more videos on Ocean County, New Jersey. Stay tuned to see what I feature next!