Known as the Garden State, New Jersey sits between New York City and Philadelphia and carries a somewhat mixed reputation. Outside its major urban centers — Newark, Jersey City, Trenton, New Brunswick, Atlantic City, and Paterson — the state is dotted with beautiful countryside, small towns, and forested communities. The New Jersey shoreline is made up of coastal towns famous for summer homes and tourism. The state's economy is broad, anchored by pharmaceuticals and life sciences, finance, logistics and shipping, tourism, and government. Because of this variety, some of the most prized suburbs in the New York metro area sit on the New Jersey side in quiet family towns, and much of the northern part of the state serves as a bedroom community for Manhattan.
By area, New Jersey is a small state, ranking among the smallest in the nation (47th). Even so, it is home to roughly 9.5 million people as of 2024, making it the most densely populated state in the country, with well over 1,200 residents per square mile. Part of this is due to New Jersey's central location among major cities like Boston, New York, Philadelphia, Baltimore, and Washington, D.C. New Jersey is also consistently one of the wealthiest states, with among the highest median household incomes in the United States.
Places to Live in New Jersey
New Jersey can be an expensive place to live. As of 2025, the typical home in the state is valued somewhere in the mid-$500,000s (Zillow's statewide home value index), well above the national median. That single figure hides a wide range, however. In the most expensive shore and suburban markets — places like Avalon and Long Beach Township — median sale prices climb well past $1 million. In cities such as Camden and Trenton, homes remain considerably more affordable. Anyone shopping across the state should expect prices to vary dramatically from one county to the next.
Newark
Newark is New Jersey's largest city, with roughly 305,000–315,000 residents in recent estimates (about 311,000 at the 2020 Census). It is the second-largest city in the New York metro area after New York City itself and a major transportation hub, home to Newark Liberty International Airport and one of the busiest seaports on the East Coast. The city has seen significant investment and redevelopment in recent years, and it remains an employment center spanning finance, insurance, higher education, healthcare, and manufacturing.
Jersey City
Jersey City is New Jersey's second-largest city, with roughly 290,000–300,000 residents, and it has been one of the fastest-growing cities in the state. Located just minutes from lower Manhattan via the PATH train, Jersey City is now a major financial hub and home to many who commute into New York City each day. Its waterfront includes Newport, the Exchange Place financial district sometimes called "Wall Street West," and a scenic walkway along the Hudson River.
Paterson
Paterson is one of New Jersey's largest cities, with roughly 160,000 residents (about 159,700 at the 2020 Census), and is frequently cited as one of the most densely populated cities in the United States. Historically a manufacturing center, the city is home to the Great Falls of the Passaic River, now protected as Paterson Great Falls National Historical Park.
NJ Banks & Financial Institutions
New Jersey residents and those considering a move to the Garden State will want to find a reputable bank to work with. Fortunately for consumers, there are many options, ranging from community banks and credit unions to national giants. New Jersey is also home to a number of banks headquartered in the state, led by Valley National Bank (Morristown), the largest bank based in New Jersey. Below, we've outlined a sampling of your choices. You can find a more complete list of New Jersey banks here.
New Jersey–headquartered institutions:
- Valley National Bank
- Provident Bank
- OceanFirst Bank
- Columbia Bank
- Kearny Bank
- ConnectOne Bank
- Unity Bank
- Sturdy Savings Bank
Credit unions:
- Affinity Federal Credit Union
- Credit Union of New Jersey
- Proponent Federal Credit Union
- Picatinny Federal Credit Union
- Garden Savings Federal Credit Union
- United Teletech Financial Federal Credit Union
- Merck Employees Federal Credit Union
National banks with a large New Jersey presence:
- Bank of America
- TD Bank
- PNC Bank
- Wells Fargo
- Chase
- Capital One
- Citizens Bank
Though this abundance of choices is good for consumers, it can also make comparison shopping feel a bit overwhelming. How do you even go about determining which bank can offer you the highest interest rate on your certificate of deposit? Luckily, RateZip.com was built to answer these types of questions. You can use our financial search engine to quickly and accurately compare quotes from multiple financial institutions.
Today's NJ Mortgage Rates
For those relocating to the area, RateZip.com can help with up-to-date lending information from regional and national lenders. The most popular type of mortgage in New Jersey is the 30-year fixed-rate home loan. With this type of mortgage, the interest rate and monthly payment stay constant for the entire 30-year life of the loan. Another option is the adjustable-rate mortgage, or ARM. You'll often see ARMs described as 5/1, 7/1, or 10/1: the first number represents how long the initial fixed interest rate lasts (5, 7, or 10 years), and the second number signifies that the rate then adjusts periodically based on an agreed-upon index. Because mortgage rates move constantly, it's best to compare current quotes from multiple lenders rather than rely on any single advertised rate.
First-time buyers in New Jersey may also want to look into programs from the New Jersey Housing and Mortgage Finance Agency (NJHMFA), which offers a First-Time Homebuyer Mortgage Program alongside down payment and closing-cost assistance for qualified borrowers.
Residents of New Jersey buying in higher-priced markets may also be interested in jumbo home loans. These are mortgages for buyers whose loan amount exceeds the conforming loan limit, which the Federal Housing Finance Agency sets each year. In the more expensive parts of the state, a jumbo mortgage is often necessary to finance a home. Jumbo rates can differ from those on conforming loans, so it pays to compare current offers before you commit.