If you’ve been looking at apartments in Central New Jersey, Bridgewater is probably on your list. The thriving township, once the hunting grounds of the Lenape Indians, is now home to more than 45,000 people. Thanks to its convenient location, excellent schools and strong local economy, Bridgewater is an excellent place to put down roots. Our guide explores how much you can expect to pay if you become a Bridgewater resident.
Home Prices, Property Taxes and Rental Rates
The median price of homes listed for sale in Bridgewater is $499,500, according to Zillow. Homeowners in the township pay an average of $9,144 in property taxes. If you’re planning on renting, you may not think that home prices and property taxes affect you. Although you won’t see the costs listed on your lease or monthly rent statement, they do influence the cost of rent. In areas where houses sell for much less and taxes are lower, rents will also be lower. Zillow reports that renters in Bridgewater pay a median rent price of $2,300 monthly.
Salaries
Rent may be more expensive in Central New Jersey than in other parts of the country, but salaries are also higher. The median income for Bridgewater residents is $114,963, according to Bestplaces.net. Located just over 50 miles from both New York City and Philadelphia, Bridgewater offers convenient access to jobs in those cities. Plenty of good jobs are available near Bridgewater as well. MetLife, Sanofi, Nestle Health Science, Linde Americas and AT&T have offices in the township. Many other large employers are just a short drive away, including Janssen Pharmaceuticals, Johnson & Johnson, InVentiv Health, Somerset Medical Center, Avaya and Hunterdon Healthcare System.
Transportation
Do you plan to drive to New York City every day? In addition to paying for parking once you reach your destination, you’ll also have to pay the Holland Tunnel toll every time you drive into the city. If you have E-Z pass and can travel at off-peak hours, you’ll pay $10.50. The E-Z pass fee during peak access time is $12.50. Vehicles without E-Z pass pay $15 regardless of the time.
New Jersey Transit’s Raritan Valley Line is an excellent option if you don’t want to drive into Manhattan. One-way tickets from the Bridgewater Station cost $14.75, but weekly ($127.50) or monthly ($421) passes are a much better deal. Connecting service to Amtrak is available at Newark’s Penn Station. NJ Transit bus service is also available.
Renters Insurance
Renters insurance reimburses you if your belongings are stolen or damaged by vandalism, fires, frozen pipe, explosions, floods, storms, tornadoes and natural disasters. Your policy may also cover the cost of temporary housing if your unit is damaged and provide coverage for guests who are injured in your apartment. Renters insurance is surprisingly affordable. Renters pay an average of $197 per year for $40,000 of personal property protection and $100,000 liability, according to an Insurance.com analysis.
Childcare
Childcare can account for a substantial amount of your budget. NJ.com reports that the median monthly cost for infant care in Somerset County is $1,000, while the 75th percentile price is $1,425. Monthly costs for preschoolers range from $945 (median) to $1,135 (75th percentile).
Before and after-school programs are available at several Bridgewater-Raritan schools. Parents pay $80 per week for before-school programs for primary and intermediate students, $145 for after-school care for primary students, and $125 per week for after-school care for intermediate students.
Other Factors
Bestplaces.net examined several factors that affect the cost of living, including utilities, housing, health, housing and transportation costs. Bridgewater scored 161.4 overall, while the average national cost of living was 100. Other scores included 165.9 for transportation, 105.8 for transportation, 95.5 for health, 104.4 for grocery, 105.8 for utilities and 244.5 for housing.
Are you searching for a new apartment? Fairway 28, a Country Classics Community, just may have the ideal location in Central New Jersey. Close to 1-287 and routes 22, 28, 202 and 206 the luxury apartments offer one to two-bedrooms, in-unit washers and dryers, a 24/7 fitness room, chef’s kitchens, tiled bathrooms, private balconies and spacious bedrooms. Contact us for information regarding current availability.
Sources:
NJ.com: The Cost of Daycare in All 21 NJ Counties Ranked from Least to Most Expensive
Zillow: Bridgewater Home Prices and Values
https://www.zillow.com/bridgewater-nj/home-values/
Bridgewater Patch: How Much is the Average Bridgewater Property Tax Bill?
https://patch.com/new-jersey/bridgewater/how-much-average-bridgewater-property-tax-bill
Insurance.com: Average Renters Insurance Rates
https://www.insurance.com/average-renters-insurance-rates
Bridgewater-Raritan Regional School District
https://www.brrsd.org/about/br-cares
Bestplaces.net: Bridgewater, NJ
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