By Maddie McGay
NorthJersey.com
The New York metropolitan area is one of, if not the most, expensive places to buy a home in the nation. So for homebuyers in our region, especially those who need to be within a short commuting distance of the city, it's all about what towns offer the best bang for their buck.
In a new study from PropertyShark, the real estate data provider found the 13 communities with the lowest home prices within a half-hour drive of lower Manhattan. Each of these locations had median home prices that were less than the metro area's median sale price of $441 per square foot.
Of the 13 communities, 10 are in North Jersey.
Communities with the lowest home prices within 30 minutes of New York City
Newark was named the most affordable location. With a median home size of 2,010 square feet, this Essex County city has a median price of $228 per square foot.
The Hudson County city of Bayonne has the second lowest home prices on the list. Also with a median home size of 2,010 square feet, homes have a median price of $286 per square foot.
Six other Hudson County communities made this list: Guttenberg, Kearny, Secaucus, Union City, North Bergen and West New York. The other two North Jersey locations are in Bergen County: Lyndhurst and Rutherford.
The other New York metropolitan areas on the list are The Bronx, Union County and Staten Island.
Other communities with the lowest home prices in the New York metro area
Other North Jersey communities in the metropolitan area that have the lowest home prices in the region — though not necessarily within 30 minutes of the city — include Wantage, Hardyston, Vernon, Sparta, Wanaque, West Milford, Hopatcong and Ringwood.
PropertyShark determined these communities by considering the median sale prices and median home sizes of 240 locations in the New York metropolitan area based on residential sales registered between Aug. 1, 2023 and Aug. 27, 2024. Median sale prices were rounded up to the nearest $1,000, while median home sizes were rounded up to the nearest 10 square feet.
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Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.