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Home>Daily Capital>Retirement Planning>14 Best Places to Retire in New Jersey in 2023

14 Best Places to Retire in New Jersey in 2023

If you’re considering retiring in New Jersey, you’ll have plenty of places throughout the state to choose from. New Jersey isn’t generally considered one of the best places to retire because of the high cost of living and high state tax rates. That being said, it has many small, friendly towns, plenty of outdoor recreation, and access to the coast. Because of that, it’s easy to see why some people still consider it a great place to spend their golden years.

How We Determined the Best Places to Retire

When narrowing down the best places to retire in New Jersey, we considered six key factors:

  • Percent of the population over 65
  • Median home value
  • Cost of living
  • Cost of healthcare
  • Crime rate
  • Amenities score

To gather this data, we used third-party sources such as the U.S. Census Bureau, Zillow, and the livability rankings website AreaVibes. While the cities on our list don’t rank the highest in all of these categories, they rank well in most categories, making them stand out from other New Jersey cities and towns.

Worried about inflation eating into your savings? Use our Retirement Planner to model different scenarios based on inflation.

Best Places to Retire in New Jersey

1. Bridgeton

  • Population: 26,610
  • % of Population Above 65:5%
  • Median Home Value: $192,746
  • Cost of Living (Compared to the National Average): 8% lower
  • Cost of Healthcare (Compared to the National Average): 9% lower
  • Crime Rate (Compared to the National Average): 72% higher
  • Amenities Score: A

Bridgeton is a city in the southern part of New Jersey, located in Cumberland County. It has a low cost of living, including affordable housing and healthcare. However, it also has a small senior population and a crime rate that’s higher than the national average.

2. Atlantic City

  • Population: 38,466
  • % of Population Above 65:1%
  • Median Home Value: $179,781
  • Cost of Living (Compared to the National Average): 1% lower
  • Cost of Healthcare (Compared to the National Average): 9% lower
  • Crime Rate (Compared to the National Average): 50% higher
  • Amenities Score: A+

Atlantic City is one of the most well-known places in New Jersey, thanks to its beaches, casinos, and Boardwalk. It has several benefits, including its low cost of living, low housing costs, and low healthcare costs. However, it also has a small senior population and a crime rate that’s higher than the national average.

3. Millville

  • Population: 27,638
  • % of Population Above 65:1%
  • Median Home Value: $196,162
  • Cost of Living (Compared to the National Average): 2% lower
  • Cost of Healthcare (Compared to the National Average): 9% lower
  • Crime Rate (Compared to the National Average): 72% higher
  • Amenities Score: A+

Millville is a small city in Cumberland County in the southern part of the state. It has plenty of things to offer retirees, including a large senior population and an overall cost of living, including affordable housing and affordable healthcare. However, Millville has a crime rate that’s higher than the national average.

4. Vineland

  • Population: 61,156
  • % of Population Above 65:7%
  • Median Home Value: $243,195
  • Cost of Living (Compared to the National Average): 2% lower
  • Cost of Healthcare (Compared to the National Average): 9% lower
  • Crime Rate (Compared to the National Average): 5% higher
  • Amenities Score: A+

Vineland is a medium-sized city in Cumberland County in the southern part of the state. It has several key advantages, including its low cost of living, low housing costs, and low healthcare costs. It has a crime rate and senior population that are close to the national average.

5. Surf City

  • Population: 1,260
  • % of Population Above 65: 48%
  • Median Home Value: $1,398,241
  • Cost of Living (Compared to the National Average): 55% higher
  • Cost of Healthcare (Compared to the National Average): 9% lower
  • Crime Rate (Compared to the National Average): 29% lower
  • Amenities Score: A+

Surf City is a borough in Ocean County located right along the coast. Surf City has a lot to offer retirees, including a small population, a large senior population, and a low crime rate. However, it’s one of the most expensive places in the state, with a cost of living and housing costs that are well above the national average.

6. Sea Girt

  • Population: 1,725
  • % of Population Above 65: 32%
  • Median Home Value: $1,898,150
  • Cost of Living (Compared to the National Average): 135% higher
  • Cost of Healthcare (Compared to the National Average): 1% lower
  • Crime Rate (Compared to the National Average): 68% lower
  • Amenities Score: A+

Sea Girt is a small borough in Monmouth County located along the New Jersey coast. Like Surf City, Sea Girt is one of the most expensive places to live. The borough’s housing costs and cost of living are considerably higher than the national average. The good news is that it has a large senior population and a low crime rate.

7. Ellisburg

  • Population: 4,722
  • % of Population Above 65: 21%
  • Median Home Value: $336,380
  • Cost of Living (Compared to the National Average): 12% higher
  • Cost of Healthcare (Compared to the National Average): 1% lower
  • Crime Rate (Compared to the National Average): 55% lower
  • Amenities Score: A+

Ellisburg is an unincorporated location in the Cherry Hill Township in New Jersey, located in the western part of the state. It has plenty to offer, including a large senior population, affordable housing and healthcare, and a low crime rate. The only downside is its generally high cost of living.

8. Margate City

  • Population: 5,247
  • % of Population Above 65:8%
  • Median Home Value: $839,914
  • Cost of Living (Compared to the National Average): 34% higher
  • Cost of Healthcare (Compared to the National Average): 9% lower
  • Crime Rate (Compared to the National Average): 2% lower
  • Amenities Score: A+

Margate City is located along the coast of New Jersey in Atlantic County. Its perks include its large senior population, affordable healthcare, and low crime rate. However, Margate City also has a high cost of living and above-average housing costs.

9. Weston

  • Population: 1,959
  • % of Population Above 65: 77%
  • Median Home Value: $614,826
  • Cost of Living (Compared to the National Average): 41% higher
  • Cost of Healthcare (Compared to the National Average): 1% lower
  • Crime Rate (Compared to the National Average): 84% lower
  • Amenities Score: A+

Weston is an unincorporated community in the very northern part of New Jersey in Franklin Township. The community has a large senior population — more than three-quarters of its residents are 65 or older. It also has a low crime rate and below-average healthcare costs. The downside of Weston is its higher cost of living and expensive housing.

10. Paramus

  • Population: 26,416
  • % of Population Above 65:6%
  • Median Home Value: $806,899
  • Cost of Living (Compared to the National Average): 58% higher
  • Cost of Healthcare (Compared to the National Average): 1% lower
  • Crime Rate (Compared to the National Average): 22% lower
  • Amenities Score: A+

Paramus is a New Jersey borough located in Bergen County, just across the river from New York City. The borough has a large senior population, a low crime rate, and below-average healthcare costs. On the other hand, it has a high cost of living and expensive housing.

11. Greentree

  • Population: 12,012
  • % of Population Above 65:6%
  • Median Home Value: $467,527
  • Cost of Living (Compared to the National Average): 26% higher
  • Cost of Healthcare (Compared to the National Average): 1% lower
  • Crime Rate (Compared to the National Average): 51% lower
  • Amenities Score: A+

Greentree is an unincorporated community in the Cherry Hill Township, located in the western part of New Jersey. The community has a low crime rate and a large senior population. Its healthcare costs are slightly below the national average, while its housing costs are in line with the state’s average. The only downside is its slightly above-average cost of living.

12. Lavallette

  • Population: 2,171
  • % of Population Above 65: 40%
  • Median Home Value: $969,128
  • Cost of Living (Compared to the National Average): 67% higher
  • Cost of Healthcare (Compared to the National Average): 1% lower
  • Crime Rate (Compared to the National Average): 54% lower
  • Amenities Score: A+

Lavallette is a borough located in Ocean County, just along the New Jersey coastline. The borough has a low cost of living, a large senior population, and below-average healthcare costs. However, it has expensive housing and a high cost of living.

13. Spring Lake Heights

  • Population: 4,530
  • % of Population Above 65: 24%
  • Median Home Value: $746,118
  • Cost of Living (Compared to the National Average): 42% higher
  • Cost of Healthcare (Compared to the National Average): 1% lower
  • Crime Rate (Compared to the National Average): 88% lower
  • Amenities Score: A+

Spring Lake Heights is a borough in Monmouth County along the coast of northern New Jersey. Its advantages include its large senior population, its below-average healthcare costs, and its very low crime rate. However, Spring Lake Heights does have an above-average cost of living.

New Providence

  • Population: 13,617
  • % of Population Above 65:9%
  • Median Home Value: $786,969
  • Cost of Living (Compared to the National Average): 51% higher
  • Cost of Healthcare (Compared to the National Average): 2% lower
  • Crime Rate (Compared to the National Average): 82% lower
  • Amenities Score: A+

New Providence is a borough in Union County in the northern part of New Jersey. The community has a low crime rate, below-average healthcare costs, and a senior population that’s in line with the state’s average. However, it also has a high cost of living and relatively expensive housing.

Next Steps For You

As you prepare for retirement, it’s important to consider more than just where you’ll live. It’s also important to make sure you have the right financial foundation there to support you. The Personal Capital Retirement Planner can help you make sure you’re on track for retirement and can tell you how much you should save each month to reach your retirement goals.

Get Started with Personal Capital’s Free Financial Tools

Author is not a client of Personal Capital Advisors Corporation and is compensated as a freelance writer.

The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. Compensation not to exceed $500. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.
Erin Gobler is a money coach who helps people pay off debt and reach their big financial goals without giving up spending on the things they love.
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