These North Jersey towns give you the best bang for your housing buck
We all know that North Jersey is downright expensive. And while the combination of low inventory and high interest rates aren't helping the cause, many may still view the Garden State as one of the best places to live, and are determined to stay.
While North Jersey is among the most expensive places in the country, there are some towns here with lower home values than others, but you just need to know where to look.
If you're hoping to finally make the leap into homeownership, these five towns had the lowest home values in North Jersey — all below $400,000 — as of March, according to recent market data from Zillow:
Vernon
Vernon is located in the northeastern most part of Sussex County, bordering both Passaic County and the New York State border. With a typical home value of $291,678 as of March, Vernon currently has the lowest home values in all of North Jersey.
Homes currently for sale in Vernon include a three-bedroom, two-bathroom Cape Cod-style home on Andrea Drive for $339,000; a four-bedroom, two-bathroom Ranch near Pleasant Valley Lake for $379,000; and a three-bedroom, two-bathroom lakefront property with private beach access on E Shore Drive for $389,888.
Spanning roughly 70 square miles, Vernon is a quiet area that offers residents a mix of suburban and rural living. The town is an outdoor lover's paradise, widely known for its abundance of nature attractions like the Kittatinny Mountains and Wawayanda State Park. Vernon is also home to Mountain Creek, a ski resort and water park offering skiing, snowboarding, snowtubing, mountain biking and more, as well as Heaven Hill Farm, a 365-acre farm offering fresh produce, a garden center and events throughout the year.
Additionally, Vernon is located just about 15 minutes from Warwick, New York, which is filled with attractions like the Warwick Drive-In, Pennings Farm, Apple Ridge Orchards and the Mount Peter Ski Area.
Montague
Nestled along the borders of New York and Pennsylvania, Montague is in the northwestern most region of North Jersey. This town had a typical home value of $313,968 as of March, making it the area with the second lowest home values in North Jersey.
Currently on the market in Montague is a three-bedroom, two-bathroom bi-level home with two-acres on Deckertown Turnpike for $339,900; a three-bedroom, three-bathroom bi-level home at High Point Golf Club for $399,900; and a three-bedroom, two-bathroom split-level home with one acre on Adams Lane for $469,113.
Montague is home to attractions like Hight Point State Park and the High Point Monument, as well as the Tamerlaine Sanctuary & Preserve. Nearby attractions include the Sussex County Sunflower Maze, Space Farms Zoo & Museum and Ventimiglia Vineyard.
Franklin
Spanning just 4.4 square miles, Franklin is a small suburban community in Sussex County. With the third lowest home values in North Jersey, Franklin had a typical home value of $333,922 as of March.
Homes currently on the market in Franklin include a three-bedroom, two-bathroom raised Ranch on Haines Court for $409,000; a four-bedroom, two-bathroom home on Nestor Street for $435,000; and a five-bathroom, three-bathroom split-level home on Rapole Street for $449,950.
Most notably, Franklin is home to the Franklin Mineral Museum, where guests are invited to explore displays of different mineral and geological artifacts. The borough is also home to Muckraker Beermaker and the Irish Cottage Inn, as well as both the Black Bear Golf Course and Berkshire Valley Golf Course.
Highland Lakes
A nearly 5-square-mile town centered around Highland Lake within Vernon Township, Highland Lakes is a small, rural community with just over 4,000 residents. With a typical home value of $356,337 as of March, Highland Lake offers the fourth lowest home values in our area.
In Highland Lakes, homes currently for sale include a two-bedroom, one bathroom Ranch on Waconia Road for $269,000; a two-bedroom, one-bathroom Ranch on Canadawa Road for $285,000; and a two-bedroom, one-bathroom property right by the lake Hillside Road for $289,000.
While Highland Lakes is a small community, there are several nearby attractions, including Mountain Creek in Vernon, The Sterling Hill Mining Museum in Ogdensburg and Balyoween Golf Club.
Hamburg
Spanning just 1.17 square miles with a population of 3,308 residents, Hamburg is the smallest town on this list, located just above Franklin. The typical home value in Hamburg is $360,626, the fifth lowest in North Jersey.
Homes for sale in Hamburg include a four-bedroom, two-bathroom home on Orchard Street for $329,900; a three-bedroom, three-bathroom home in the Indian Field community at $370,000; and a three-bedroom, two-bathroom two-story home on Vernon Avenue for $469,000.
Hamburg is home to the Hamburg Antique Center, a family-owned business selling antique and collectable items. Nearby, there are also attractions like Crystal Springs Resort, the Franklin Mineral Museum and the Sussex County Fairgrounds, which holds a variety of events throughout the year.
Here are the top 15 North Jersey towns with the lowest home values as of March:
1 - Vernon - $291,678
2 - Montague - $313,986
3 - Franklin - $333,922
4 - Highland Lake - $356,337
5 - Hamburg - $360,626
6 - Irvington - $363,946
7 - Newark - $367,833
8 - Ogdensburg - $373,444
9 - Paterson - $385,580
10 - Stockholm - $389,935
11 - Hopatcong - $392,177
12 - Stanhope - $396,002
13 - Newton - $402,178
14 - Netcong - $404,966
15 - Orange - $405,273
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.com.
This article originally appeared on NorthJersey.com: Where can I afford to live in NJ? These towns are cheaper