Palmyra amongst top 10 most affordable towns in NJ to live in!

What N.J. towns are the most affordable to live in?  According to a recent survey the Borough of Palmyra was ranked as the 6th most affordable place to live in the entire state — and the most affordable community in Burlington County!

The study was based on average localized costs like average annual mortgage payments — and annual property taxes — in relation to the local median income, according to SmartAsset.

“Specifically, we found the total cost over five years of these four expenses — closing costs, taxes, insurance and mortgage payments — for the average home in every county in the U.S. and every city with a population greater than 5,000. We then took that five-year cost as a proportion of median household income in each county and city to determine affordability,” the site said.

See the survey results and the article appearing on www.nj.com on January 31st by clicking HERE.

Mayor Karen Scheffler stated she was very pleased with the results of the survey and thanked Borough Staff for their hard work and dedication and added that “many years of fiscally responsible decisions by the governing body made this distinction possible.”

UPDATE: How much house can I afford?  Use the SmartAsset interactive graphic now by clicking on the link below!
https://smartasset.com/mortgage/how-much-house-can-i-afford?utm_source