Carlo Palomino’s Cost of Living Guide: Whippany, Hanover, & New Jersey
Schools & infrastructure around Hanover and Whippany are among the best in the Northeast. If you ask Carlo Palomino, that’s the reason behind the higher cost of living in these New Jersey regions.
While New Jersey has one of the highest tax figures in the entire US, Whippany and Hanover are townships that hold finest investment opportunities around all the US with low taxes due to corporate subsidies with some major organizations headquartered or with offices in the area like Novartis, Bayer, MetLife, and Barclays to name a few.
Join Carlo Palomino in learning the cost of living of Whippany, Hanover, and other New Jersey townships!
Housing cost in Hanover and Whippany, NJ
New Jersey is home to two of America’s wealthiest counties, Hunterdon County and Morris County. This has led to the growth in real estate property prices all around New Jersey including Whippany and Hanover.
A median house value in New Jersey is more than $360,000. This is the prime reason why there are more renters in New Jersey than house owners!
Are you into real estate? Check out this blog from Carlo Palomino Investor!
Utility pricing in Whippany and Hanover
If New Jersey housing prices can burn a hole in your pocket, utility pricing in Hanover and Whippany are things Carlo Palomino won’t worry much about. This is because the electricity here in NJ is cheaper than in the average U.S.
If we look at 2019 figures, the monthly electricity bill was around 100 USD per household in NJ which is much less than the average household in the U.S.
Food costs in New Jersey- Carlo Palomino’s insight
Food in New Jersey can be on the costlier side if compared to other household utilities. Carlo Palomino has discovered that you’ll need to spend more than 700 USD per month on the food for a small family on average.
Places like Hanover and Whippany are expected to be a bit higher than the other localities but the reason is genuine; these places are New Jersey’s best places to live in.
Taxes in Carlo Palomino’s New Jersey
If you are planning to live or invest in New Jersey cities like Hanover and Whippany, expect to pay up to 1.5% or more property tax. This is significantly higher than the national average of 1.19%, but much lower than the the New Jersey average of 2%.
As Carlo Palomino discussed in the beginning, New Jersey is costlier than other states in the United States. In fact, the Garden State is the most expensive state when it comes to taxes, but with various programs, high income level, and continuous job growth, New Jersey is still a great place to live and work.
Healthcare expense in New Jersey
According to the Agency for Healthcare Research and Quality, New Jersey’s residents contribute well above the $1,400 USD national average for single coverage healthcare.
Despite being an expensive state, New Jersey is also home to handsome earnings. Carlo Palomino personally believes that this is the only reason why residents of towns like Hanover and Whipanny are affording NJ.
This was about the major cost of living facts about New Jersey. Carlo Palomino has something more to share with his audience about cost of living in places near Whippany and Hanover!
Many of New Jersey’s attractions are free or cost very less:
- Atlantic City boardwalk is free.
- Victorian houses of Cape May are free of cost.
- No entry fee at Princeton University campus.
- Liberty Science Center for $23.75
- Grounds for Sculpture art park for $20.
This was all for now from New Jersey’s Carlo Palomino. I will be coming up with more interesting facts and findings about the garden state, New Jersey.
Till then, it’s a goodbye from the sales guy from Whippany and Hanover, NJ!
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