This is NJ’s best town to retire, and here’s the worst

Talk about a tale of two cities.

For years the exodus has been on. New Jersey is too expensive and as a result many get out, sometimes while they’re young like they took Bruce Springsteen's advice, and sometimes when they retire.

According to the Asbury Park Press, the financial site GOBankingRates.com looked at data to determine the best town and the worst town in which to retire in New Jersey. In fairness, they did this for all 50 states, and we’re nj1015.com so I’m focusing on that.

As far as Jersey goes, we’ll end on a high note and save best for last. So first the worst.

According to GOBankRates.com you really don’t want to be retired in Passaic. The average income of households with retirement income is only $18,014 and the average income of households with Social Security income is $17,831. Yet Passaic’s average monthly mortgage is $3,261 and cost of living $2,102. Average single-family home value? $547,431. Yikes.

But the best town in which to retire in New Jersey?

It’s Mays Landing.

If you don’t know your hoagies from your jimmies, that’s in South Jersey. Atlantic County, to be exact.

Helping make Mays Landing the best town in New Jersey to retire is an average income of $37,576 for households with retirement income and an average $29,306 for households with Social Security income. Combined with an average monthly mortgage of $1,978 and total monthly cost of living averaging $1,828, it places Mays Landing at No. 1 best town. Plus, their average single-family home value is only $332,047.

So if you're retired in Mays Landing, odds are you won’t be missing real Jersey pizza any time soon since you might be one of the few who choose to stay.

Opinions expressed in the post above are those of New Jersey 101.5 talk show host Jeff Deminski only.

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