Cost of Living
There is very little to argue about, New Jersey isn’t exactly the cheapest place to live in the United States. As a matter of fact, the cost of living in New Jersey is higher than in most other places in the country. Conversely, Maine is a relatively affordable state to reside in. Its low cost of living is even evident in places such as its state capital, Augusta.
Compared to New Jersey, where the population is more densely packed, Maine has a spread-out, lower population. This means it can be difficult to picture what the housing market looks like. According to the real estate site Zillow, the average home value in Maine is roughly $222,600, which has increased by only 7.4% in the past year. Most homes are currently listed at around $245,000.
Not everyone wants to buy a home. If you are in the market to rent, you can expect to spend about $1214 in the state’s largest city, Portland. If you don’t like the idea of spending so much, you may be able to get a one-bedroom for approximately $585 in Augusta, which is substantially cheaper.
Whether you prefer to rent or buy, you have plenty of living options in Maine, most of which are significantly cheaper than those in New Jersey. Just imagine what you could do with the extra money you save on rent or a mortgage.