NJ: Newark Has Most Affordable Housing in State

If you think finding an affordable home that fits your needs in New Jersey will be a difficult task, think again. A new nationwide report released by Coldwell Banker Real Estate shows while home prices in the Garden State are robust, there are some surprises.

The report, called the Home Listing Report (HLR), compares the average home listing price of a four-bedroom, two-bathroom property listed on coldwellbanker.com between September 2010 and March 2011.

The HLR results reveal of the 156 New Jersey real estate markets, Newark led the list as the most affordable market in the state with an average of $170,427. The HLR results also reveal Stone Harbor in Cape May County as the state’s most expensive market, weighing in at hefty $1,344,908. Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in New Jersey overall was $448,817.

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