N
ew York City is renowned for its high cost of living, but a recent study by PropertyShark reveals that living within 30 minutes of Manhattan can lead to surprisingly affordable housing options. The study highlights 13 communities where home prices are significantly lower than the city's sky-high median of $441 per square foot. Ten of these bargain spots are located across the Hudson River in New Jersey.

    At the top of the list is Newark, where homes are priced at a wallet-friendly $228 per square foot. Bayonne comes in second at $286 per square foot, both of which are less than 30 minutes from Lower Manhattan. These locations offer easy access to the city without breaking the bank.

    The study reveals Hudson County in New Jersey as an area to watch, with six of its towns making the list. Beyond Bayonne, Guttenberg, Kearny, Secaucus, Union City, and North Bergen all offer competitive prices. In Bergen County, Rutherford and Lyndhurst also made the cut. New Jersey dominates when it comes to affordable housing close to the city, but The Bronx and Staten Island, which are within city limits, also sneak in with homes priced at $299 and $440 per square foot, respectively.

    What's even better? The homes in these areas aren't tiny. For example, homes in Newark and Bayonne are close to the national median size of 2,140 square feet, giving buyers much more bang for their buck. This is a stark contrast to the eye-watering prices found across the river.

    For the average homebuyer, towns like Newark and Bayonne are not just more affordable — they're a smart investment if you need space and proximity to the city. The analysis, based on sales from August 2023 to August 2024, used median sale prices per square foot to provide a fair comparison across neighborhoods, filtering out the outliers.