HOA Fees In New Jersey Among The Highest In The Country

So let's not kid ourselves, living in Jersey is great but it is seriously expensive.

Whether you're a renter or a homeowner, things can add up pretty quickly.

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A quick scan of Zillow shows the average rent around Ocean or Monmouth County and you'll be pretty hard-pressed to find anything under $2,100 or $2,200 a month.

And housing prices are crazy too.

The average cost of a house is somewhere in the neighborhood of $530,000, and I don't see that coming down anytime soon.

And outside of paying your mortgage you also have to worry about your property taxes and insurance which can add up quickly.

And if you own a home that has an HOA, get ready to pay even more than the average homeowner.

NJ Has Some Of The Most Expensive HOA Fees In The Country

HOAs aren't all bad, they make sure your roads are clear, snow is removed, and the grass is cut, and can help settle disputes among residents.

But they aren't cheap.

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According to 24/7 Tempo, the average cost of an HOA in New Jersey is between $500 and $700 a month.

Granted there are exceptions to the rule, some people have reported HOA fees as low as $50 a month, but for the most part, you'll be shelling out an extra couple hundred dollars a month.

If you're looking for an area with more reasonable HOAs, 24/7 Tempo reports that the Southeast Central part of the nation has an average HOA fee of $149 a month on average.

And if you are looking to buy in Jersey, these are some great towns for families.