The cost of living is an important consideration when you’re contemplating a move to another area. Property taxes, utility bills, childcare expenses and transportation costs can all impact your decision. If Hillsborough, NJ, is on your list of potential new home towns, you’ll want to take a look at our cost of living breakdown.
The median home listing price in Hillsborough is currently $470,640, according to Zillow. For that price, you can expect to buy a 2,000-square-foot home with three or four bedrooms and two bathrooms in an established neighborhood. If you’d like a newer and larger home, you may want to consider the 3,680-square-foot Classic Carney, one of the six floor plans available at Country Classics at Hillsborough. This floor plan offers four-bedrooms, 2.5 bathrooms, a gourmet kitchen, a first-first floor study and a spacious sunken family room with gas fireplace.
In 2018, the average Hillsborough homeowner paid $9,279 in taxes. Although taxes certainly aren’t cheap in Hillsborough, the local government is taking steps to lower them. Hillsborough Township reduced the 2018 municipal tax rate from $.33 per $100 of assessed value to $.325 cents. In 2019, taxpayers will see an additional $.5 cent drop per $100 of assessed value.
Taxes and home prices may be a little costly in Hillsborough, but higher salaries help offset those expenses. New York City and Philadelphia aren’t the only places that offer good jobs at decent salaries. Central New Jersey is home to many large companies, including those in the healthcare, pharmaceutical and insurance industries. The median salary for Hillsborough residents is $114,991, much higher than the $53,487 national average, according to Bestplaces.net.
Childcare is another cost of living factor, whether you have kids or are planning to start a family soon. Based on information provided by local daycare centers on Care.com, you can expect to spend at least $1,100 per month on care for one child.
Hillsborough Township Public Schools offer a before and after-school program run by Catholic Charities. The program is available at the six elementary schools and at Auten Road Intermediate School. The before-school program, offered at Auten Road, Hillsborough, Sunnymead and Woods Road Elementary Schools costs $150 per month for the 2019-2020 school year. The after-school program is available at all of the schools and ranges from $230 to $250 per month, depending on the number of days the child attends.
Hillsborough’s convenient Central New Jersey location makes it easy to get to New York City, Philadelphia, Princeton, Trenton, New Brunswick and other cities. If you plan to drive into New York City via the Holland Tunnel every day, you’ll pay $10.50 for off-peak access and $12.50 for peak access if you have E-Z pass. Non-E-Z pass drivers pay $15 no matter when they enter the tunnel.
Are you planning to take the train to Manhattan? New Jersey Transit’s Raritan Valley Line can get you there in 1 hour and 15 minutes during rush hour. After exiting the train at Newark’s Penn Station, you’ll board another train that will take you to New York Penn Station. A one-way ticket costs $15.25. You’ll save money by buying a weekly pass for $135 or a monthly pass for $445. Bus transportation is also available throughout the area.
Bestplaces.net compared the Hillsborough cost of living to the national average in several categories. The national average for all categories was rated 100. Hillsborough received a 158.2 overall cost of living score, while the entire state was rated 132.6.
Other categories examined in the analysis included grocery costs (104.4) and utilities (110.9). Thanks to the large number of hospitals and healthcare systems in our area, New Jersey actually scored below the national average at 95.5.
Hillsborough Township just may be the perfect place to build a brand new home in New Jersey. If you’re ready to move, you’ll want to pay a visit to Country Classics at Hillsborough. Now in its final phase, the community features spacious executive homes perfect for entertaining. Get in touch with us soon if you’re interested in becoming our newest homeowner.
Care.com: Hillsborough Day Care
Hillsborough Patch: How Much is the Average Hillsborough Property Tax
Niche.com: Hillsborough Township
Best Places: Hillsborough NJ
Hillsborough Township: Tax Rate Reduced
Zillow: Hillsborough, NJ, Home Values
Hillsborough Township Public Schools: Before/After School Programs