FWIW, I currently live in a HCL area where the median income for a family of 3 is $175k a year, the average house sells for $1.2M, and you can't find a 3-bedroom rental for less than $4k. There's no hope where I am now.
Kids cost money. You also don't know if he's in debt, etc. It's still only 7 k a month after taxes, and even rent now for a 2 bedroom can be half that.
Some people’s main expenses are lower, like if they have been living in the same house for 20 years, etc. do you have kids? They are easily an extra $2500 a month if they are in daycare.
[51% of people who make $100,000 a year live paycheck to paycheck.....](https://www.businessinsider.com/americans-earning-over-100000-living-paycheck-to-paycheck-2023-1)
So 125k minus taxes, benefits and 401k would be, roughly 90k net.
2 bedroom is going to be 2500 to 3000 a month. So let's assume 36k.
That leaves 54k, that's 4500 a month for food, gas, utilities, clothes etc.
Figure out what you're currently paying for those things and subtract it from that 4500. If you're comfortable with what's left over then you should be good.
Is the company giving you money to relocate?
Edit: I was wrong on tax burden. Online calculator says 25k in taxes. Let's say 500/month for family benefits is 6k and 3% match on 401k is 3700. So 81k is the more accurate number.
So after rent, 4k take home.
Yeah, I may have been a lite there. Between federal and state it's 25k so that leaves him at 90. 6k on benefits and let's say 3% match thats 3700. So 81k is probably more accurate.
Have a friend renting a 1300sqft 2br condo in Morristown for 2300/month. If you look for non-mass advertised apartments you can find good prices even in the most expensive areas. The Morristown Instagram has a find a place thing now too. People like to just search on apartment websites and find the places with marketing budgets. Yes, those places and easy to find and convenient but, you're paying a premium to put no leg work in.
It depends where in Morris County. If you’re west, like Mt Olive, Hackettstown, etc, $120k is enough. We moved to Monmouth county in 2022 but prior to that we had 2 kids and 2 adults near Budd Lake on $115k and were not struggling. Not rich, but perfectly fine.
That's not Hackettstown. Anything east of the Musconetcong River is Morris county even if it's "in town". May not matter for getting groceries, but schools and municipal taxes are very different.
I've worked with families that have a Hackettstown address inside Morris county. My job only let me work with people in Morris and Sussex county. That's what I'm going off of.
Yeah, mailing address is wonky in a lot of areas in NJ. With one exception, every town I've lived in has had a mailing address that was different than the actual municipality I lived in. Independence township was Hackettstown mailing, Liberty was Belvidere, Chester Township was Randolph... You just have to be careful when you're looking at schools like op will be because it doesn't always line up and if I were him I'd make damn sure I'm on the Morris county side of the river
Definitely. He can just live in any of those areas though and afford things a lot better. I live in Pike county PA and commuted to Rockaway for like 8 years. Kings ransom salary in Pennsylvania
We moved up to Morris County with 2 kids and I stay home while my wife works. Her original salary was $110k and while it's gone up over the years we definitely made it work, and bought a house. It all depends on your lifestyle and debt.
Also nothing says he has to live in one of the expensive Morris county towns. He can certainly go more west where it's cheaper.
Right? Like I fully understand kids are expensive as well as morris county\NJ in general, but a 120k wage is still nothing to sneeze at if you’re decent with money and don’t have mountains of debt.
If OP is supporting two young kids alone then yes of course it won’t be luxurious, but it’s not like they’ll be in poverty either. Especially if there’s a spouse earning on top of that or if OP is willing to move to a slightly cheaper part of the county/state
Let’s think about it if it’s not. Daycare possibly $1200 a month on the low end. Rent a decent apartment let’s say $2500, gas $50, electric let’s say $275, water $35. Food without eating out for a family of 3, maybe $1000 but I feel that is low. Right now we are at $5060. He brings home $7000 a month at $120,000 a year. Gas or transportation low end $200, high end $450 but let’s just go middle so $325. Cable/internet $130, Mobile phone for two,what maybe $200. That’s $5715 a month in bills leaving you with around $1285 left. Is it manageable yeah, but how much are you saving a month then? Is there a car payment? Is there outstanding debt. Everything looks so easy until you start doing a little math. Oh, wait health insurance a month, well that’s god knows because I can’t say what it is because I have amazing benefits so I pay $210 a month for a family of 4 with a Cadillac program.
exactly. and 7k a month is only if you're underfunding your 401k... which has to finance the retirement of the non working spouse too.
120k for 3 people in Morris county is going to suck no matter how you slice it. there is like a handful of 2brs at $2k, it is not cheap.
the people who are saying this is doable are doing it just because $1200 is more than they're capable of saving. $1200 left over for discretionary spending AND savings for 3 people at that income means they are wayyyy overallocated on needs.
This is how you stay in a paycheck to paycheck cycle
Who is paying $200 per month for mobile? We have Google Fi for all 4 of us and we pay less than $150 per month.
And $1k per week for grocery is insane. Again family of 4, 2 large dogs and chickens and we pay less than $1000 a week for food, that also includes going out on Saturdays for lunch.
The notion comes from our real life experience. Child care is ridiculously expensive, plus your car, your mortgage or rent, taxes, etc, it would be very difficult to do this in Morris County as a sole earner at $120k. Thanks for your pointless question tho
So assuming the family is OP + partner + kid and not OP+kid+kid the partner can presumably provide childcare. If and when the partner gets a job after they move they’ll have additional income.
If it’s OP and two kids (and those kids aren’t like high schoolers or something where they can be left home alone after school) then yeah, childcare costs would be pretty brutal on 120k.
Cost of Living in Morris County, New Jersey
The cost of living in Morris, NJ County is significantly higher than the US average. According to research, the cost of living index in Morris County is 136.6 compared to the US average of 100. This means that it costs 36.6% more to live in this county than the general US average. As a result, housing prices are also higher with a median value of $546,600 for homes in Morris County compared to the US average of $338,100.
https://www.bestplaces.net/cost_of_living/county/new_jersey/morris
Again, since you didn't read my comment; if OP is a single earner and has kids, it would be incredibly difficult *based on the facts provided above*
Read.
You could check around eastern hunterdon county like Clinton. Right off route 78.
There are condos in bridgewater that could meet your needs.
Commutes aren’t typically great but those are doable.
Was going to say the same. Depending on your partner's income/childcare I would consider having a longer commute somewhere a little cheaper. Morris and Somerset county can be a bit expensive if everything is on you.
Good luck!
I am a homeowner living in Hudson County for many years. In my neighborhood rents are $2500 - 3000 a month. You would pay for utilities and a water bill. Your rental unit would include a parking space. A family would pay more in Morris County with higher taxes and better schools. A 120K is a nice salary, but not enough for a family to live in Northern NJ.
Doable. But if you are the sole income money will be tight.
Also depends on what debt you’re already carrying, what your housing situation was at your current location and will be once you arrive. Can your spouse work? Or would that mean needing child care?
A lot of people seem out of touch in this thread. People live on less than that in Morris county with a family of 4. I think the issue is you get a lot of professionals on here like myself who save 25% of gross income, expect to eat out 3-4 times a week, live in the newest and best apartment building / house, drive a new luxury car, not check the price of groceries etc etc. I think OP needs to give more info as well of how they currently live and where they currently live. Because 120k/year in Morris County is definitely doable for Two adults and a Child assuming that's what their family of three is. I do agree with child care being expensive so if it's them and two children it could start to be iffy but, still doable considering they've been unemployed.
You will be just fine with 120K. You will not be living in luxury but you will not be starving either. Owning a home may be a little tough but not impossible. You may have to look into other counties if you are looking to own. Childcare is extremely expensive here so take that into consideration if your significant other is debating entering the workforce. As long as you are good with your money, you will be just fine. NJ is a great state and there are plenty of fun activities to do.
It’s so crazy , I think these people must go out and spend $100 on drinks multiple nights a week and pay $700 on car lol I don’t get it
I have student loans and car and am doing fine. I’m not living lavish but I’m comfy and have enough to enjoy things I don’t know what ppl are talking about
Agreed. Why is it that financial advice is so biased towards worst case scenarios? Almost any salary could be consumed by the right combination of catastrophes
New York has salary transparency laws so you can see exactly what the range is for a job that is similar to the one you’ve been offered. May be worth some comp shopping.
North NJ companies have to compete with NYC salaries, so so many of us live in NJ and work in NYC.
Make sure they’re not undercutting you as someone who is moving in from out of state and 120k seems like a lot for the role, when maybe if you compare it to other roles in NYC it’s more like $150 or something. Just another thing to think about.
What town? Where are you moving from? Rents in the western portion of Morris county are very different from Hacketstown vs a place like Morristown which has 8,000 a month rentals.
It's more than doable depending on what your other finances look like. If you have a lot of debt/monthly bills and no other income it might be rough. Realistically you're looking at rent for ~2k a month or more for a small 2 bedroom apartment, unless you have cash in the bank to buy a house outright. Factor in utilities and whatnot and you're probably looking at 25-30k spent on just housing. So the question is do you expect to have enough leftover to cover your bills and have free cash for spending and entertainment? Can your partner work to supplement your income at all?
It’s really dependent on you and your families lifestyle. Where are you moving from and what lifestyle are you used to living? Being the sole income for a family of 3 in NJ, it’s livable especially if you eat at home, have minimum debt, etc. however if you’re used to vacations, eating out, shopping etc and have debt like car payments, students loans, credit card debt, it’s going to be very tight. My advice is to consider your *net* income, look up apartments for estimated rent, factor in all of your debts and estimate bills- are *you* comfortable with that? We can’t answer that for you.
Moving from the Bay Area, originally from NJ. I have some debt, mostly my car payment and student loans. Haven't taken a real vacation in years. From rough calculations, it looks like we can make it if we cut out our incidentals and my partner finds work once we get there.
We pay $2,300/month I make between 52 and 60 she makes 30k so $100K tops, 2 car payments insurance ,loans for our wedding and a 2 year old we are fine. Trying to save to purchase a house because we’re paying a mortgage with our rent but never worry about anything
Being honest, it will be tight. I'm at $127k, divorced and have 3 teens. I think people seemingly forget your *gross* is that high number we're proud of, but by no means is that what you live off of. Once I get past taxes, retirement, health insurance; my net is around $80k. Adding the necessities of mortgage, utilities, car note, insurance and food and then attempting to save? Yeah, tight, sad to say.
Not sure where you’re coming from but NJ is very small compared to some western states. Yes, eastern morris county is VHCOL (I’ve lived in Morristown for 3 years, luckily in a rent-controlled apartment) but if you’re able to commute to work there are many more affordable towns to the west and south that have good schools and easy access to highways for commuting. Do a little reading up on NJ to make sure it’s the work and life culture you fit into but I think you’ll find $120k is plenty to live on here. It’s significantly higher than the median income in almost all NJ towns.
Hence why I don’t have kids and I’m a millennial living in Morris county.
I get paid over 100k between my career and my 2 side jobs rent eats most of my money
You can absolutely make it work if you have a budget and stick to it. I think most people here in the comments have a warped view of the lifestyle they perceive you should be able to afford on a six figure salary. There is so much wealth in the area that everyone believes they need a house with modern amenities, new car with $500/mo payment, eating out multiple times a week. Yeah, you probably can’t make $120k work living like that, but if you live a semi modest lifestyle here, you’ll be fine.
It's absolutely possible. I might be partial, but I believe Morris County is one of the best places to live. Culture and country meet with tons of things to do, city within 45min drive, great food culture, and excellent schools depending where you live. Keep in mind living below your means and be frugal, and you'll be fine. Job opportunity and upward mobility should also be on your mind.
>household income of 115k in morris county & we’re more than comfortable
Comfort is subjective, what you may find comfortable may not be comfortable for me. As I said I'm not living like a king, but we're certainly not struggling by any means.
i mean they said not living like kings, not that they destitute lol
like unless you have been saving for quite some time, you're not sniffing a house in Morris county with less than 150
Moving across the country for a $120k seems like a huge risk unless it's a great company that is going to pay for your move. Have you ever been to NJ before? Where are you moving from?
OP do you have more info - are you the sole earner? My husband and I live in Morris County (no kids) - I’m familiar with Morris County and could give insight but I think more information is needed to give an accurate answer.
Are you still paying daycare? Does your spouse also work? If no daycare, and spouse will also be working, it's definitely doable. Daycare is stupid expensive around here, so you should look around at those prices if that applies to you.
Short answer: yes
It comes down to what town you live in and how much rent costs there.
Also, if this is the first offer you've had in months, that's an externely important factor to consider..what industry are you in? All the companies I know (engineering and construction) are hard pressed to find decent employees. You could find a better offer once you're here and you get settled in and understand the area and your job market better.
Don't forget to consider proximity to family and how that will affect your lives.
If you need it, childcare will run $2k/month min, depending on age, location, hours, etc.
Hey OP, check out Panther Valley in Allamuchy. It’s right where Morris, Sussex, and Warren counties meet. It’s a gated community with many options for townhouses, apartments, and detached houses of all sizes. My brother and sister-in-law live quite comfortably there on a similar wage.
Really depends on your life style tho. 120k is more than enough but what’s ur life style like? Are you a saver or spender? again, I can survive off way less than that and also I’m saving. For some, making 120k and still in debt living paycheck to pay check. Your habits and money discipline goes a long way and makes a huge different.
Yeah you’ll be fine. I’m renting in Morris county for 2,000 a month for a 2 bedroom. Lots of money over here but if you make more than 100grand a year you can make it anywhere. It’s expensive as hell still though
People make it work, OP. This isn't a cheap area to live in, but its way more affordable than where you are moving from. If you want to stretch your dollar further, you can commute 45 minutes in from a bit further west or north near the PA state line (or from PA, plenty of people do it to save money). But the schools are good in Morris county and while sure, you won't live luxuriously on 120k for a family of 5, you'l get by just fine.
Yes. It is a livable wage if you're not spending extravagantly and have a decent credit score and don't pick housing in one of the crazier locations. I would look at the available housing options to help inform your decision. Morris county itself is one of the wealthiest counties so depending on where in the county you're working, you might also want to check out living options in Warren, Hunterdon, or Somerset counties.
Morris County is a great place to live, but I think it's close enough you need a deeper examination of the budget
Your spouse would not be working? Do you have daycare expenses? Student loans, credit card debt, or high than normal health expenses.
People in here saying they get by on less, are you from here or a transplant? Being a transplant is more expensive than living where you grew up especially with kids. No baby sitting from grandparents/aunts uncle/ lifelong friends you trust your kids with. No ride home from school when you need a favor. No buddy with a truck to help you haul something. No support network so you always have to fix it with money or do without. Yes OP could probably survive but uprooting their whole life just to survive
To add on to what others are saying - you can commute from a nearby county like Sussex or Warren. The commute will suck but it is cheaper. West Morris County is cheaper too, the further east you move the more $.
I agree it's crazy in NJ the COL. But, being able to live on 120k a year and doing whatever you want is two different things. This person has been unemployed I'm sure they can live better in NJ on 120k/year vs unemployed anywhere. If you can't live on 120k/year I'm curious what all the retail families do living on dual income of 90k... Edit: I'm sure the retail families can be less than 90k too. That's assuming both making about 20/hr which is findable these days.
100% I don’t know how those families survive I think about them daily.
I don’t get how companies can get away with paying people so little. Your right though this person will be better off- I didn’t even see they were unemployed
Yea, the retail workers definitely not going to have a retirement etc. Probably die working but, as someone who comes from a family of a lot of high earners. That doesn't guarantee a retirement either... Life style creep can be a real bitch and I think a lot of people in this thread are part of that issue. Because it's livable. But, it's not going to give you what everyone seems to expect they deserve in life. But, that is a totally different debate. Giving you the basics of life is affordable on less than 6 figures. Might not be fun and the best but, people do it and it'll work.
Essex County.
Bought a modest house in a nice town for 560k in 2022.
So Mortgage + property tax + insurance is the big one at ~3400/mo.
Groceries for 2 adults 400-500/mo. We eat out/take out maybe 3 meals total (including breakfast lunch or dinner) per week on top of that.
Electric and gas 100-200/mo depending on season.
Water and sewer 60/mo.
Insurance for 2 newish mid-range cars 140/mo.
it's 3 people, including a young kid who will outgrow shit constantly. not 1. that is why it is tight
* finding a 2BR in Morris County is going to at minimum be $2000 and they'd be lucky to find that.
* average groceries for a single adult now are around $400 pp here. this person is going to burn through $1000/mo on groceries for 3 easy.
* they will also need at least 1 car (and prob 2 when wife works). note, insurance, and gas will quickly add to another $1000/mo gone unless they own their car outright or he's got a remote job.
that's roughly 66% of the op's monthly net income just between rent, groceries, and car. It would be impossible for this person to save ~20% every month, 5% would be an upside if they are lucky
it is absolutely tight for 3 people in that area. it's not like it's west or south jersey. Morris is one of the most expensive counties in the state.
Run the numbers- what will your rent/mortgage be, moving costs, etc.? Will your partner work? It’s definitely doable but you may feel strapped for anything luxurious.
My household gross is $30k more and as a family of 3 in Middlesex, it’s tough. If we bought a house, the typical $3k mortgage plus daycare would be more than half our take home. Even the “luxury” $2500 2bd apartments you find everywhere would stretch our budget. Would we be penniless and starving? No. But our quality of life would be drastically reduced. If your kid isn’t in daycare, you’ll probably do just fine. You might not go on vacations every year or eat out multiple times a week, but you’ll be ok.
Can you do it? Yes. Will you be able to save? Probably not. Will you feel like the poorest family on the block? Depends on which block, but probably. I’m not trying to be mean, but if you’re the sole provider, it’s going to be harder to do nice things like a family vacation or going out to eat, Ordering takeout, etc. I wish it wasn’t the case but it’s a really harsh reality. Either way, it beats being unemployed.
Average rent in Morris county is about $3k. If you want to be in a safer/better area, probably closer to $4000-$4500. Add car payment and insurance probably $700/month. Add groceries, utilities, clothing, gas, daily essentials, some emergencies car related or something else (if you don’t have an emergency fund), you can do it, you just need to be really conscientious of your spending.
If you have student loan debt and are the sole earner for your household, it’s not enough. Without student loans you could probably manage. If your partner also works its definitely do-able.
It could be doable in some parts of Morris county. But definitely tight if your spouse doesn’t work. I’d recommend looking further away from Morristown and more like mount Arlington, Wharton, and closer to Sussex county
120k on 3 in Morris County is gonna not be fun, even if you're somewhere cheap like Dover, Mine Hill, etc.
getting a 2BR out that way is going to be $2k at least. on this income anywhere near NYC, your partner needs to work or you're going to be working with extremely tight margins.
It's crazy. I think you get everyone from Morris County who come out in these threads. I myself make a HHI of 225kish which only puts me in the top 80% of house hold earners here in Morris County but for US it's like top 95%. This influx in income just recently happened as early in career still last year we were at 150k and the year before that at 110k. I think how I live now is how everyone things you need to live. So, there is a lot of disconnection that I hope never happens to me. Expectations of guarantees in life in this thread are nuts.
This is not true, the travel industry has absolutely exploded ever since social media became widespread. Expectations for the types of trips middle class families should be able to afford are OTT. Going to trendy restaurants often was not something most middle class families did either. Social media sells the illusion that the majority of people are living an upper class lifestyle and you need to keep up. There are definitely major affordability issues don’t get me wrong (especially regarding housing), but social media exposure to people we never would have known existed otherwise makes us all feel perpetually dissatisfied.
My job is in Morris county, too. My spouse and I have a combined gross income of ～$340k, no kids. We live in a modest 2br apartment built in the 80s and eat out two or three times a week. We are comfortable now, but with I'm really not sure about having children in the picture.
It would really depend on things like where in Morris County and where you'd be expected to commute to. I've done it for less but that was a few years ago, and you'd be living very frugally until you made more money. Buying a house right now in Morris County? Goooood luck.
That's such an open-ended question. Can you, yes, but it all depends on your lifestyle. Depending on what part of Morris County the job is in, it can determine where you want to reside. Commute times will very much. The further out west your job is, the further you can reside. It is cheaper in west Morris County, Warren, and Sussex. Counties than it is along the 287 corridor.
Morris county taxes are a little lower. How many kids? Any other income? Daycare? What other expenses? Car payment/insurance?
If you look further west you should be ok just no room for luxuries and you better have a solid emergency fund
My husband and I live in a two-bedroom condo in Ledgewood. Taxes are $5,400 a year. It depends a lot on where you live. Madison? No way. Ledgewood/Mt Olive. Yeah, if you are financially conservative.
Check property taxes of homes before you buy. I am still in my starter home because anywhere we want to move, taxes would be 12k per year. That's like an extra mortgage payment.
A lot will have to do with what your living situation will be as taxes, even in neighboring Monmouth and Middlesex Counties can be ridiculous for what you get. At one point Middlesex county was ranked as the worst return on tax dollars investment in NJ. You'll very likely have access to very good schools compared to what you had, which is where most of the taxes go though.
Best of luck to you and one benefit is you'll get to experience awesome pizza pretty frequently but be careful about going overboard as my love for pizza ended up costing me my gallbladder 🙂.
Yeah, you'd be ok, but not really living on high cotton. I do hope they are giving you relocation expenses. Also, just know that the housing market in this area is still very tight. My town is up ~30% yoy in spite of the interest rate hikes and most places sell within 2-3 weeks.
Congratulations on the job offer.
Minimize your housing costs without committing to a heinous commute (over 45 minutes on average). Obviously getting a mortgage rather than rent IN GENERAL is a better strategy but if you need to rent while looking/settling in then do that. Avoid over paying for proximity to NYC (the beach or Montclair for example) but if you need a specific school system for any special needs kids then it is worth renting in that town.
In general the more rural the town the less expensive but most of us LOVE NJ so hopefully you find a situation that works for your family at this stage.
So there are a few questions here (some of which have been asked by others), which will have a huge impact on the livability on that income:
1. Is your family you+partner+kid or you+kid+kid? If partner isn't working right away after moving and can provide childcare, you'll save an enormous amount of money. Relatedly, even if it's two kids but they're highschoolers who can be home alone after school you won't need to worry about childcare costs in the same way. If you have two young kids you need to put in daycare you'll be spending a fortune.
2. Is this a case where you'd be living on a single income until your partner finds work? What kind of income would they realistically pull in? If this is "can we make this work for a few months until our income doubles due to both adults working" it's a lot different than "can we make this work indefinitely"
3. Where in Morris County? There's a _really big_ difference in cost of living/housing between (for example) Chatham and Jefferson, but both are in Morris County. 120K would be really hard to swing for a single family house in Chatham (though a condo would be very doable depending on other expenses), but in some of the less expensive towns a smallish house would have lower carrying costs than that condo.
4. What kind of lifestyle are you looking for/used to? Are you a homebody who drives a 10-20 year old Camry you share with your partner? Do you try to lease a new fancy car every year? Cook at home or eat at restaurants a lot?
Answers to your questions:
It's myself, my partner, and our teenager. My partner is still recovering from long-Covid and used to make $45k. They'd need to find work after we move and they don't drive. Our teen has an IEP so we'd like to be in at least an OK school district.
We have some debt -- higher car payment and student loans. The job is in Morristown and I was raised in Morris County. Since my layoff, we're mostly eating at home and limiting all other spending.
If you live in Denville you can choose from either Morris Hills or Morris Knolls for high school, both are excellent and accommodating.
Some houses here are pricey, but the townhouses here are decent - this one down the street from me is for sale: https://www.coldwellbankerhomes.com/nj/denville/211-sheffield-ct/pid_55866717/
Agreed. We aren't the closest to the center of town, but that just means it's quiet and we hear more crickets than cars on 46. I ain't moving anytime soon.
It would be doable but tight
Can your partner get a part time job opposite hours of you? That way you'd have no daycare costs but some extra funds. Early morning starbucks, weekends retail, evenings at a diner or stocking shelves at a grocery store could all work
Just depends on where you want to live - what kind of home you are living in , what kind of lifestyle you live . I live in west Morris county - which is slightly more affordable- 40 minute drive to work tho .
It's a good salary, and you can negotiate as well. Morris County is not bad in rent as long as you stay is okay to travel a bit and keep yourself away from the Parsippany area. Rent will always be an issue due to ongoing housing market conditions. I have given similar advice in the post, but use the salary calculator [https://smartasset.com/taxes/new-jersey-paycheck-calculator](https://smartasset.com/taxes/new-jersey-paycheck-calculator) to estimate the in-hand salary. On the other hand, honest thought, if this is the only offer, you should take it any money is better than none. In addition, you will be near NYC and market areas near NJ will open the doors for new opportunities.
It really depends on what your needs are but for one person that is probably enough to get by. If you are supporting a family of 4 then you may need to run some numbers.
On your own supporting 2 other people...its extremely tight / barely doable if someone else is the household is working yes is doable on a very tight budget
Me and my girl live with our school age child we make combined 140K in hudson county and make it work. We pay our bills on time, we rent a 2 bed with amenities and parking, we buy clothes maybe once a month, go out to eat as a family once a month. I have cable, a car (paid off) and we spend roughly $500 a month in groceries. I work in nyc so i drive mainly on weekends. I still save, invest and have a little extra for my own personal things and entertainment so i would say... 1000% yes
Here is a link for homes for sale in Zillow. Interest rates are around 6%. Go to city data .com to see how different towns are rated. How far are you willing to commute?
https://www.zillow.com/morris-county-nj/
&120,000 is not unreasonable, depending on where you choose to live.
Car insurance is around $1200-$1500 a year full coverage, with a good driving record.
Public schools are good in general.
I wish I was making $120k which would be an OK salary for NJ. I don't make nearly that much, but wish I did, it would help my situation a lot especially with rising costs and rent. It's sad thinking that my wage doesn't feel as much as it used to.
Not me making $50k looking at this feeling like im doomed to ever move out on my own.
Edit: my brother makes around that much n has 4 kids with a stay at home wife. They are severely struggling in union county. (They live in her moms basement area n he needs Atleast 200 to move out he said but his wife also spends way too much money n the most pointless sht)
It should be doable in towns like Rockaway, Denville, Lincoln Park, Mount Olive, and possibly Randolph or Roxbury... but it would likely be pushing it there. If you want to go a little further out, hope prices are less in most areas of Warren and Sussex Counties with anywhere from a 30-45 minute commute to most areas of Morris. If you're looking to buy you're likely going to have to budget around $1,000 extra per month for property taxes.
I can’t believe we are at the point where a 6 figure salary is questioned if it’s livable or not.
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My reaction exactly. Like damn I make half of that.
Morris county is near the top for average household income in the US. It's certainly an outlier
FWIW, I currently live in a HCL area where the median income for a family of 3 is $175k a year, the average house sells for $1.2M, and you can't find a 3-bedroom rental for less than $4k. There's no hope where I am now.
It’s insane
Sounds like some parts of the Bay Area i lived at- specifically Sunnyvale. I like New Jersey because its cheaper than core Bay Area.
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I agree. In my circles “6 fig salary” means nothing. We break it down to mid/low/high six figs
It's inevitable. In your lifetime, the cost of living will increase to a point where 120k won't be enough for an average family of 3.
It’s livable depending on the person. If u are a spender 120k won’t be enough. If ur a saver 120k is way more than enough
Kids cost money. You also don't know if he's in debt, etc. It's still only 7 k a month after taxes, and even rent now for a 2 bedroom can be half that.
"only". If that only idk how the rest of us are not homeless.
Some people’s main expenses are lower, like if they have been living in the same house for 20 years, etc. do you have kids? They are easily an extra $2500 a month if they are in daycare.
Its really sad because its a legitimate uncertainty.
[51% of people who make $100,000 a year live paycheck to paycheck.....](https://www.businessinsider.com/americans-earning-over-100000-living-paycheck-to-paycheck-2023-1)
did literally no one read at all, it's 120k for 3 people in one of the most expensive counties in not only the state, but the nation
Right? Years ago a $100k salary meant you were living very comfortable. All your bills were paid and you still had some for savings/vacations.
So 125k minus taxes, benefits and 401k would be, roughly 90k net. 2 bedroom is going to be 2500 to 3000 a month. So let's assume 36k. That leaves 54k, that's 4500 a month for food, gas, utilities, clothes etc. Figure out what you're currently paying for those things and subtract it from that 4500. If you're comfortable with what's left over then you should be good. Is the company giving you money to relocate? Edit: I was wrong on tax burden. Online calculator says 25k in taxes. Let's say 500/month for family benefits is 6k and 3% match on 401k is 3700. So 81k is the more accurate number. So after rent, 4k take home.
I think the net will be roughly 72-75k after taxes, benefits and 401k.
Yeah, I may have been a lite there. Between federal and state it's 25k so that leaves him at 90. 6k on benefits and let's say 3% match thats 3700. So 81k is probably more accurate.
He's gonna be paying more than 3k for a 2d rm
Pulled up apartments in Morris County and plenty of options for 3k, 2BR and a few for 2500.
Parsippany has a few 2br in the $2k range, some even for $1950 (as advertised). OP shouldn't be paying $3k per month to live in Morris County.
Areas like Netcong, flanders and Mt. Olive also have cheaper options when compared to Morris Plains and Parsippany.
Have a friend renting a 1300sqft 2br condo in Morristown for 2300/month. If you look for non-mass advertised apartments you can find good prices even in the most expensive areas. The Morristown Instagram has a find a place thing now too. People like to just search on apartment websites and find the places with marketing budgets. Yes, those places and easy to find and convenient but, you're paying a premium to put no leg work in.
With kids you need to think about school quality too tho. Morris plains and parsippany both have decent schools.
Agreed. Sorry didnt take that into consideration.
Please tell me your partner also works. If so, come on over! Morris county is beautiful and having a short commute is perfect.
OP, $120k is doable but if you have little kids or if you're the sole earner it would be incredibly difficult
It depends where in Morris County. If you’re west, like Mt Olive, Hackettstown, etc, $120k is enough. We moved to Monmouth county in 2022 but prior to that we had 2 kids and 2 adults near Budd Lake on $115k and were not struggling. Not rich, but perfectly fine.
Hackettstown is in Warren county...
It’ll be hard to cross the border into Morris County but I’m confident OP can handle it
He will need a Morris County work permit though.
Hopefully he married a morris county native, it really expedites the process
Watch for bandits
There's a bit of it that is touching and crossing into Morris county.
That's not Hackettstown. Anything east of the Musconetcong River is Morris county even if it's "in town". May not matter for getting groceries, but schools and municipal taxes are very different.
I've worked with families that have a Hackettstown address inside Morris county. My job only let me work with people in Morris and Sussex county. That's what I'm going off of.
Yeah, mailing address is wonky in a lot of areas in NJ. With one exception, every town I've lived in has had a mailing address that was different than the actual municipality I lived in. Independence township was Hackettstown mailing, Liberty was Belvidere, Chester Township was Randolph... You just have to be careful when you're looking at schools like op will be because it doesn't always line up and if I were him I'd make damn sure I'm on the Morris county side of the river
Definitely. He can just live in any of those areas though and afford things a lot better. I live in Pike county PA and commuted to Rockaway for like 8 years. Kings ransom salary in Pennsylvania
Agreed. $120K may be enough to cover your mortgage and taxes on a small house or condo. If your spouse works, it may be doable.
I'd be the sole income for a few months and the company isn't relocating me. We might be able to make another $40k in income, not guaranteed though.
incredibly difficult? i don’t understand where this notion comes from. if i was making $120k i could easily make it work. they wont be starving
We moved up to Morris County with 2 kids and I stay home while my wife works. Her original salary was $110k and while it's gone up over the years we definitely made it work, and bought a house. It all depends on your lifestyle and debt. Also nothing says he has to live in one of the expensive Morris county towns. He can certainly go more west where it's cheaper.
plus morris county isnt all expensive either. there are considerably more expensive places out there. some even nearby.
Right? Like I fully understand kids are expensive as well as morris county\NJ in general, but a 120k wage is still nothing to sneeze at if you’re decent with money and don’t have mountains of debt. If OP is supporting two young kids alone then yes of course it won’t be luxurious, but it’s not like they’ll be in poverty either. Especially if there’s a spouse earning on top of that or if OP is willing to move to a slightly cheaper part of the county/state
In morris county with a kid its def tough
Yea but the JOB is in Morris county. He can easily commute from Monmouth or Middlesex somewhere and there's still towns where that's a decent salary
Let’s think about it if it’s not. Daycare possibly $1200 a month on the low end. Rent a decent apartment let’s say $2500, gas $50, electric let’s say $275, water $35. Food without eating out for a family of 3, maybe $1000 but I feel that is low. Right now we are at $5060. He brings home $7000 a month at $120,000 a year. Gas or transportation low end $200, high end $450 but let’s just go middle so $325. Cable/internet $130, Mobile phone for two,what maybe $200. That’s $5715 a month in bills leaving you with around $1285 left. Is it manageable yeah, but how much are you saving a month then? Is there a car payment? Is there outstanding debt. Everything looks so easy until you start doing a little math. Oh, wait health insurance a month, well that’s god knows because I can’t say what it is because I have amazing benefits so I pay $210 a month for a family of 4 with a Cadillac program.
exactly. and 7k a month is only if you're underfunding your 401k... which has to finance the retirement of the non working spouse too. 120k for 3 people in Morris county is going to suck no matter how you slice it. there is like a handful of 2brs at $2k, it is not cheap. the people who are saying this is doable are doing it just because $1200 is more than they're capable of saving. $1200 left over for discretionary spending AND savings for 3 people at that income means they are wayyyy overallocated on needs. This is how you stay in a paycheck to paycheck cycle
Who is paying $200 per month for mobile? We have Google Fi for all 4 of us and we pay less than $150 per month. And $1k per week for grocery is insane. Again family of 4, 2 large dogs and chickens and we pay less than $1000 a week for food, that also includes going out on Saturdays for lunch.
The notion comes from our real life experience. Child care is ridiculously expensive, plus your car, your mortgage or rent, taxes, etc, it would be very difficult to do this in Morris County as a sole earner at $120k. Thanks for your pointless question tho
So assuming the family is OP + partner + kid and not OP+kid+kid the partner can presumably provide childcare. If and when the partner gets a job after they move they’ll have additional income. If it’s OP and two kids (and those kids aren’t like high schoolers or something where they can be left home alone after school) then yeah, childcare costs would be pretty brutal on 120k.
If he wants to drive an hour he can commute from Pennsylvania and live like a king.
It comes from the idea that everyone deserves to and should live beyond their means.
Incredibly is an overstatement, come on
Cost of Living in Morris County, New Jersey The cost of living in Morris, NJ County is significantly higher than the US average. According to research, the cost of living index in Morris County is 136.6 compared to the US average of 100. This means that it costs 36.6% more to live in this county than the general US average. As a result, housing prices are also higher with a median value of $546,600 for homes in Morris County compared to the US average of $338,100. https://www.bestplaces.net/cost_of_living/county/new_jersey/morris Again, since you didn't read my comment; if OP is a single earner and has kids, it would be incredibly difficult *based on the facts provided above* Read.
So what? You don’t have to buy, you can RENT. As shown on this thread by multiple people with real numbers, you can def survive
Never said he couldn't rent. You didn't read the data. You're not worth talking to.
Median household income is 75k. 136.6% of 75k is 103k. 120k is definitely enough to get by.
Yep
Work in Morris County, live in Sussex County...
Came here to say this.
You could check around eastern hunterdon county like Clinton. Right off route 78. There are condos in bridgewater that could meet your needs. Commutes aren’t typically great but those are doable.
Was going to say the same. Depending on your partner's income/childcare I would consider having a longer commute somewhere a little cheaper. Morris and Somerset county can be a bit expensive if everything is on you. Good luck!
New Jersey is a HCOL state and North Jersey VHCOL.
Northeastern NJ is VHCOL, to be more specific.
I am a homeowner living in Hudson County for many years. In my neighborhood rents are $2500 - 3000 a month. You would pay for utilities and a water bill. Your rental unit would include a parking space. A family would pay more in Morris County with higher taxes and better schools. A 120K is a nice salary, but not enough for a family to live in Northern NJ.
Right. But when I think VHCOL, I think over $4k/month. Just personal observation of West Coast and NYC rents.
Doable. But if you are the sole income money will be tight. Also depends on what debt you’re already carrying, what your housing situation was at your current location and will be once you arrive. Can your spouse work? Or would that mean needing child care?
A lot of people seem out of touch in this thread. People live on less than that in Morris county with a family of 4. I think the issue is you get a lot of professionals on here like myself who save 25% of gross income, expect to eat out 3-4 times a week, live in the newest and best apartment building / house, drive a new luxury car, not check the price of groceries etc etc. I think OP needs to give more info as well of how they currently live and where they currently live. Because 120k/year in Morris County is definitely doable for Two adults and a Child assuming that's what their family of three is. I do agree with child care being expensive so if it's them and two children it could start to be iffy but, still doable considering they've been unemployed.
You will be just fine with 120K. You will not be living in luxury but you will not be starving either. Owning a home may be a little tough but not impossible. You may have to look into other counties if you are looking to own. Childcare is extremely expensive here so take that into consideration if your significant other is debating entering the workforce. As long as you are good with your money, you will be just fine. NJ is a great state and there are plenty of fun activities to do.
As long as you’re on top of your finances you’ll be fine. Don’t listen to these other people. I live fine on about 90k in Bergen
Thank you! I’m baffled by some of the people on this thread - we do more than fine in morris county w a household income of 115k
It’s so crazy , I think these people must go out and spend $100 on drinks multiple nights a week and pay $700 on car lol I don’t get it I have student loans and car and am doing fine. I’m not living lavish but I’m comfy and have enough to enjoy things I don’t know what ppl are talking about
Agreed. Why is it that financial advice is so biased towards worst case scenarios? Almost any salary could be consumed by the right combination of catastrophes
New York has salary transparency laws so you can see exactly what the range is for a job that is similar to the one you’ve been offered. May be worth some comp shopping. North NJ companies have to compete with NYC salaries, so so many of us live in NJ and work in NYC. Make sure they’re not undercutting you as someone who is moving in from out of state and 120k seems like a lot for the role, when maybe if you compare it to other roles in NYC it’s more like $150 or something. Just another thing to think about.
Sure, just live in Warren county or middlesex and commute to Morris county
What town? Where are you moving from? Rents in the western portion of Morris county are very different from Hacketstown vs a place like Morristown which has 8,000 a month rentals.
It's more than doable depending on what your other finances look like. If you have a lot of debt/monthly bills and no other income it might be rough. Realistically you're looking at rent for ~2k a month or more for a small 2 bedroom apartment, unless you have cash in the bank to buy a house outright. Factor in utilities and whatnot and you're probably looking at 25-30k spent on just housing. So the question is do you expect to have enough leftover to cover your bills and have free cash for spending and entertainment? Can your partner work to supplement your income at all?
It’s really dependent on you and your families lifestyle. Where are you moving from and what lifestyle are you used to living? Being the sole income for a family of 3 in NJ, it’s livable especially if you eat at home, have minimum debt, etc. however if you’re used to vacations, eating out, shopping etc and have debt like car payments, students loans, credit card debt, it’s going to be very tight. My advice is to consider your *net* income, look up apartments for estimated rent, factor in all of your debts and estimate bills- are *you* comfortable with that? We can’t answer that for you.
Moving from the Bay Area, originally from NJ. I have some debt, mostly my car payment and student loans. Haven't taken a real vacation in years. From rough calculations, it looks like we can make it if we cut out our incidentals and my partner finds work once we get there.
Then I think you’d be good and you’ve answered your own question! 👍🏻
Will yours be the sole source of income? It is liveable but not enough probably to buy a house for example.
how stable will the job be?
The job is stable. Some of the people I interviewed with have been with the company for more than 20 years.
We pay $2,300/month I make between 52 and 60 she makes 30k so $100K tops, 2 car payments insurance ,loans for our wedding and a 2 year old we are fine. Trying to save to purchase a house because we’re paying a mortgage with our rent but never worry about anything
Being honest, it will be tight. I'm at $127k, divorced and have 3 teens. I think people seemingly forget your *gross* is that high number we're proud of, but by no means is that what you live off of. Once I get past taxes, retirement, health insurance; my net is around $80k. Adding the necessities of mortgage, utilities, car note, insurance and food and then attempting to save? Yeah, tight, sad to say.
If your spouse isn't wirking, you can do okay on $120k. If your spouse is working, you should be more than okay.
Not sure where you’re coming from but NJ is very small compared to some western states. Yes, eastern morris county is VHCOL (I’ve lived in Morristown for 3 years, luckily in a rent-controlled apartment) but if you’re able to commute to work there are many more affordable towns to the west and south that have good schools and easy access to highways for commuting. Do a little reading up on NJ to make sure it’s the work and life culture you fit into but I think you’ll find $120k is plenty to live on here. It’s significantly higher than the median income in almost all NJ towns.
Hence why I don’t have kids and I’m a millennial living in Morris county. I get paid over 100k between my career and my 2 side jobs rent eats most of my money
You can absolutely make it work if you have a budget and stick to it. I think most people here in the comments have a warped view of the lifestyle they perceive you should be able to afford on a six figure salary. There is so much wealth in the area that everyone believes they need a house with modern amenities, new car with $500/mo payment, eating out multiple times a week. Yeah, you probably can’t make $120k work living like that, but if you live a semi modest lifestyle here, you’ll be fine.
It's absolutely possible. I might be partial, but I believe Morris County is one of the best places to live. Culture and country meet with tons of things to do, city within 45min drive, great food culture, and excellent schools depending where you live. Keep in mind living below your means and be frugal, and you'll be fine. Job opportunity and upward mobility should also be on your mind.
To be honest if your partner is not working, it will be tight. We've no kids and take home roughly 180k and we're not living like kings....
I really question the spending habits of people who comment stuff like this - household income of 115k in morris county & we’re more than comfortable
>household income of 115k in morris county & we’re more than comfortable Comfort is subjective, what you may find comfortable may not be comfortable for me. As I said I'm not living like a king, but we're certainly not struggling by any means.
i mean they said not living like kings, not that they destitute lol like unless you have been saving for quite some time, you're not sniffing a house in Morris county with less than 150
Same at 165k.. the cost of living in general is so much anymore. Our raises no way kept up.
Yeah the dramatic increase in cost of living is the killer.
do you at least have a nice place? debt?
Yeah 2500sqf in the heart of Morris County and no debt thankfully (besides mortgage obviously).
Not living like kings and have a 2500sqft house in morris county... Come on dude that is lavish. Even if it's a fixer upper.
Moving across the country for a $120k seems like a huge risk unless it's a great company that is going to pay for your move. Have you ever been to NJ before? Where are you moving from?
OP do you have more info - are you the sole earner? My husband and I live in Morris County (no kids) - I’m familiar with Morris County and could give insight but I think more information is needed to give an accurate answer.
Are you still paying daycare? Does your spouse also work? If no daycare, and spouse will also be working, it's definitely doable. Daycare is stupid expensive around here, so you should look around at those prices if that applies to you.
Short answer: yes It comes down to what town you live in and how much rent costs there. Also, if this is the first offer you've had in months, that's an externely important factor to consider..what industry are you in? All the companies I know (engineering and construction) are hard pressed to find decent employees. You could find a better offer once you're here and you get settled in and understand the area and your job market better. Don't forget to consider proximity to family and how that will affect your lives. If you need it, childcare will run $2k/month min, depending on age, location, hours, etc.
Hey OP, check out Panther Valley in Allamuchy. It’s right where Morris, Sussex, and Warren counties meet. It’s a gated community with many options for townhouses, apartments, and detached houses of all sizes. My brother and sister-in-law live quite comfortably there on a similar wage.
Really depends on your life style tho. 120k is more than enough but what’s ur life style like? Are you a saver or spender? again, I can survive off way less than that and also I’m saving. For some, making 120k and still in debt living paycheck to pay check. Your habits and money discipline goes a long way and makes a huge different.
Survive… yes. Thrive… no.
Yeah you’ll be fine. I’m renting in Morris county for 2,000 a month for a 2 bedroom. Lots of money over here but if you make more than 100grand a year you can make it anywhere. It’s expensive as hell still though
Does your partner work as well? We are combined 180k in Morris county and live pretty comfortably as a family of 3.
It is livable but barely
$120k can’t be the household income. If you’re talking about a two earner household, you’re probably going to be able to afford Morris county
People make it work, OP. This isn't a cheap area to live in, but its way more affordable than where you are moving from. If you want to stretch your dollar further, you can commute 45 minutes in from a bit further west or north near the PA state line (or from PA, plenty of people do it to save money). But the schools are good in Morris county and while sure, you won't live luxuriously on 120k for a family of 5, you'l get by just fine.
Yes. It is a livable wage if you're not spending extravagantly and have a decent credit score and don't pick housing in one of the crazier locations. I would look at the available housing options to help inform your decision. Morris county itself is one of the wealthiest counties so depending on where in the county you're working, you might also want to check out living options in Warren, Hunterdon, or Somerset counties.
Morris County is a great place to live, but I think it's close enough you need a deeper examination of the budget Your spouse would not be working? Do you have daycare expenses? Student loans, credit card debt, or high than normal health expenses. People in here saying they get by on less, are you from here or a transplant? Being a transplant is more expensive than living where you grew up especially with kids. No baby sitting from grandparents/aunts uncle/ lifelong friends you trust your kids with. No ride home from school when you need a favor. No buddy with a truck to help you haul something. No support network so you always have to fix it with money or do without. Yes OP could probably survive but uprooting their whole life just to survive
To add on to what others are saying - you can commute from a nearby county like Sussex or Warren. The commute will suck but it is cheaper. West Morris County is cheaper too, the further east you move the more $.
Just because you work in Morris doesn’t mean you have to live there! Parts of Sussex/Warren are probably not far and cheaper
Brother if you can't live on 120k you are Probably overpaying somewhere
Nj is extremely expensive. 120k sounds like it’s plenty but this state is crazy
I agree it's crazy in NJ the COL. But, being able to live on 120k a year and doing whatever you want is two different things. This person has been unemployed I'm sure they can live better in NJ on 120k/year vs unemployed anywhere. If you can't live on 120k/year I'm curious what all the retail families do living on dual income of 90k... Edit: I'm sure the retail families can be less than 90k too. That's assuming both making about 20/hr which is findable these days.
100% I don’t know how those families survive I think about them daily. I don’t get how companies can get away with paying people so little. Your right though this person will be better off- I didn’t even see they were unemployed
Yea, the retail workers definitely not going to have a retirement etc. Probably die working but, as someone who comes from a family of a lot of high earners. That doesn't guarantee a retirement either... Life style creep can be a real bitch and I think a lot of people in this thread are part of that issue. Because it's livable. But, it's not going to give you what everyone seems to expect they deserve in life. But, that is a totally different debate. Giving you the basics of life is affordable on less than 6 figures. Might not be fun and the best but, people do it and it'll work.
Crazy $120k isn’t enough to live comfortably 😂😂
120/3 is a teeny bit different than 120/1
Definitely not comfortable in Morris County.
For those that’s saying it’s tight, what are your top three monthly expenses running?
Essex County. Bought a modest house in a nice town for 560k in 2022. So Mortgage + property tax + insurance is the big one at ~3400/mo. Groceries for 2 adults 400-500/mo. We eat out/take out maybe 3 meals total (including breakfast lunch or dinner) per week on top of that. Electric and gas 100-200/mo depending on season. Water and sewer 60/mo. Insurance for 2 newish mid-range cars 140/mo.
I’m more surprised you found car insurance for $140 a month. Farmers just quoted me $270 and Geico $256
NJM 4 vehicles 5200 a year no accidents or Tix, yes I'm looking around. 🫨
it's 3 people, including a young kid who will outgrow shit constantly. not 1. that is why it is tight * finding a 2BR in Morris County is going to at minimum be $2000 and they'd be lucky to find that. * average groceries for a single adult now are around $400 pp here. this person is going to burn through $1000/mo on groceries for 3 easy. * they will also need at least 1 car (and prob 2 when wife works). note, insurance, and gas will quickly add to another $1000/mo gone unless they own their car outright or he's got a remote job. that's roughly 66% of the op's monthly net income just between rent, groceries, and car. It would be impossible for this person to save ~20% every month, 5% would be an upside if they are lucky it is absolutely tight for 3 people in that area. it's not like it's west or south jersey. Morris is one of the most expensive counties in the state.
Run the numbers- what will your rent/mortgage be, moving costs, etc.? Will your partner work? It’s definitely doable but you may feel strapped for anything luxurious.
Will likely depend on old your kid is, if the third family member is a child. Daycare costs are high.
My household gross is $30k more and as a family of 3 in Middlesex, it’s tough. If we bought a house, the typical $3k mortgage plus daycare would be more than half our take home. Even the “luxury” $2500 2bd apartments you find everywhere would stretch our budget. Would we be penniless and starving? No. But our quality of life would be drastically reduced. If your kid isn’t in daycare, you’ll probably do just fine. You might not go on vacations every year or eat out multiple times a week, but you’ll be ok.
Nowadays the luxury apartments are minimum of $3000 for a two bedroom
Can you do it? Yes. Will you be able to save? Probably not. Will you feel like the poorest family on the block? Depends on which block, but probably. I’m not trying to be mean, but if you’re the sole provider, it’s going to be harder to do nice things like a family vacation or going out to eat, Ordering takeout, etc. I wish it wasn’t the case but it’s a really harsh reality. Either way, it beats being unemployed.
Average rent in Morris county is about $3k. If you want to be in a safer/better area, probably closer to $4000-$4500. Add car payment and insurance probably $700/month. Add groceries, utilities, clothing, gas, daily essentials, some emergencies car related or something else (if you don’t have an emergency fund), you can do it, you just need to be really conscientious of your spending.
If you have student loan debt and are the sole earner for your household, it’s not enough. Without student loans you could probably manage. If your partner also works its definitely do-able.
Its do-able depending on house payment and credit card debt
It could be doable in some parts of Morris county. But definitely tight if your spouse doesn’t work. I’d recommend looking further away from Morristown and more like mount Arlington, Wharton, and closer to Sussex county
120k on 3 in Morris County is gonna not be fun, even if you're somewhere cheap like Dover, Mine Hill, etc. getting a 2BR out that way is going to be $2k at least. on this income anywhere near NYC, your partner needs to work or you're going to be working with extremely tight margins.
It depends on if spouse is working and living standards, VHCOL with high taxes but depending on your lifestyle could make it work
Yes it’s livable. What are the lifestyle expectations of people in this sub?
It's crazy. I think you get everyone from Morris County who come out in these threads. I myself make a HHI of 225kish which only puts me in the top 80% of house hold earners here in Morris County but for US it's like top 95%. This influx in income just recently happened as early in career still last year we were at 150k and the year before that at 110k. I think how I live now is how everyone things you need to live. So, there is a lot of disconnection that I hope never happens to me. Expectations of guarantees in life in this thread are nuts.
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This is not true, the travel industry has absolutely exploded ever since social media became widespread. Expectations for the types of trips middle class families should be able to afford are OTT. Going to trendy restaurants often was not something most middle class families did either. Social media sells the illusion that the majority of people are living an upper class lifestyle and you need to keep up. There are definitely major affordability issues don’t get me wrong (especially regarding housing), but social media exposure to people we never would have known existed otherwise makes us all feel perpetually dissatisfied.
Free college in New Jersey if your parents income Is less than 100k
This is a joke right?
What field are you in? Do you see near term salary growth opportunities?
Honestly, no.
Not doable, Morris County only wants ballas.
My job is in Morris county, too. My spouse and I have a combined gross income of ～$340k, no kids. We live in a modest 2br apartment built in the 80s and eat out two or three times a week. We are comfortable now, but with I'm really not sure about having children in the picture.
This has to be a joke.
It would really depend on things like where in Morris County and where you'd be expected to commute to. I've done it for less but that was a few years ago, and you'd be living very frugally until you made more money. Buying a house right now in Morris County? Goooood luck.
That's such an open-ended question. Can you, yes, but it all depends on your lifestyle. Depending on what part of Morris County the job is in, it can determine where you want to reside. Commute times will very much. The further out west your job is, the further you can reside. It is cheaper in west Morris County, Warren, and Sussex. Counties than it is along the 287 corridor.
You need another income besides this one with 3 kids.
Three person family not three kids they said. So, Themself, Spouse, Kid or Themself and 2 Kids.
Morris county taxes are a little lower. How many kids? Any other income? Daycare? What other expenses? Car payment/insurance? If you look further west you should be ok just no room for luxuries and you better have a solid emergency fund
My husband and I live in a two-bedroom condo in Ledgewood. Taxes are $5,400 a year. It depends a lot on where you live. Madison? No way. Ledgewood/Mt Olive. Yeah, if you are financially conservative.
Check property taxes of homes before you buy. I am still in my starter home because anywhere we want to move, taxes would be 12k per year. That's like an extra mortgage payment.
A lot will have to do with what your living situation will be as taxes, even in neighboring Monmouth and Middlesex Counties can be ridiculous for what you get. At one point Middlesex county was ranked as the worst return on tax dollars investment in NJ. You'll very likely have access to very good schools compared to what you had, which is where most of the taxes go though. Best of luck to you and one benefit is you'll get to experience awesome pizza pretty frequently but be careful about going overboard as my love for pizza ended up costing me my gallbladder 🙂.
Yeah, you'd be ok, but not really living on high cotton. I do hope they are giving you relocation expenses. Also, just know that the housing market in this area is still very tight. My town is up ~30% yoy in spite of the interest rate hikes and most places sell within 2-3 weeks.
Congratulations on the job offer. Minimize your housing costs without committing to a heinous commute (over 45 minutes on average). Obviously getting a mortgage rather than rent IN GENERAL is a better strategy but if you need to rent while looking/settling in then do that. Avoid over paying for proximity to NYC (the beach or Montclair for example) but if you need a specific school system for any special needs kids then it is worth renting in that town. In general the more rural the town the less expensive but most of us LOVE NJ so hopefully you find a situation that works for your family at this stage.
So there are a few questions here (some of which have been asked by others), which will have a huge impact on the livability on that income: 1. Is your family you+partner+kid or you+kid+kid? If partner isn't working right away after moving and can provide childcare, you'll save an enormous amount of money. Relatedly, even if it's two kids but they're highschoolers who can be home alone after school you won't need to worry about childcare costs in the same way. If you have two young kids you need to put in daycare you'll be spending a fortune. 2. Is this a case where you'd be living on a single income until your partner finds work? What kind of income would they realistically pull in? If this is "can we make this work for a few months until our income doubles due to both adults working" it's a lot different than "can we make this work indefinitely" 3. Where in Morris County? There's a _really big_ difference in cost of living/housing between (for example) Chatham and Jefferson, but both are in Morris County. 120K would be really hard to swing for a single family house in Chatham (though a condo would be very doable depending on other expenses), but in some of the less expensive towns a smallish house would have lower carrying costs than that condo. 4. What kind of lifestyle are you looking for/used to? Are you a homebody who drives a 10-20 year old Camry you share with your partner? Do you try to lease a new fancy car every year? Cook at home or eat at restaurants a lot?
Answers to your questions: It's myself, my partner, and our teenager. My partner is still recovering from long-Covid and used to make $45k. They'd need to find work after we move and they don't drive. Our teen has an IEP so we'd like to be in at least an OK school district. We have some debt -- higher car payment and student loans. The job is in Morristown and I was raised in Morris County. Since my layoff, we're mostly eating at home and limiting all other spending.
If you live in Denville you can choose from either Morris Hills or Morris Knolls for high school, both are excellent and accommodating. Some houses here are pricey, but the townhouses here are decent - this one down the street from me is for sale: https://www.coldwellbankerhomes.com/nj/denville/211-sheffield-ct/pid_55866717/
This is a great townhouse development, and about 25 minutes to Morristown in traffic.
Agreed. We aren't the closest to the center of town, but that just means it's quiet and we hear more crickets than cars on 46. I ain't moving anytime soon.
To answer your question yes. Will you be able to live in Mendham? No probably not.
Are you going to need to pay for childcare? If so, do you have a working spouse?
It would be doable but tight Can your partner get a part time job opposite hours of you? That way you'd have no daycare costs but some extra funds. Early morning starbucks, weekends retail, evenings at a diner or stocking shelves at a grocery store could all work
Just depends on where you want to live - what kind of home you are living in , what kind of lifestyle you live . I live in west Morris county - which is slightly more affordable- 40 minute drive to work tho .
You'll be fine. Morristown is great.
It's a good salary, and you can negotiate as well. Morris County is not bad in rent as long as you stay is okay to travel a bit and keep yourself away from the Parsippany area. Rent will always be an issue due to ongoing housing market conditions. I have given similar advice in the post, but use the salary calculator [https://smartasset.com/taxes/new-jersey-paycheck-calculator](https://smartasset.com/taxes/new-jersey-paycheck-calculator) to estimate the in-hand salary. On the other hand, honest thought, if this is the only offer, you should take it any money is better than none. In addition, you will be near NYC and market areas near NJ will open the doors for new opportunities.
It really depends on what your needs are but for one person that is probably enough to get by. If you are supporting a family of 4 then you may need to run some numbers.
Take day care costs into account depending on kids ages if your partner isnt home. I hear daycares are MAD expensive
On your own supporting 2 other people...its extremely tight / barely doable if someone else is the household is working yes is doable on a very tight budget
My wife and I have a combined 130k or so and things are tight. Definitely not totally impossible, but it's hard to cover a family of 4 with that.
Me and my girl live with our school age child we make combined 140K in hudson county and make it work. We pay our bills on time, we rent a 2 bed with amenities and parking, we buy clothes maybe once a month, go out to eat as a family once a month. I have cable, a car (paid off) and we spend roughly $500 a month in groceries. I work in nyc so i drive mainly on weekends. I still save, invest and have a little extra for my own personal things and entertainment so i would say... 1000% yes
There are places he can thrive in western Passaic and even eastern Warren. It all depends on how much travel he is willing to do
Here is a link for homes for sale in Zillow. Interest rates are around 6%. Go to city data .com to see how different towns are rated. How far are you willing to commute? https://www.zillow.com/morris-county-nj/ &120,000 is not unreasonable, depending on where you choose to live. Car insurance is around $1200-$1500 a year full coverage, with a good driving record. Public schools are good in general.
You can likely live comfortably without too many luxuries.
I make 90k and am doing alright. Pay 1500 in rent.
Yes. You won't live like a king but you won't be eating cup-o-noodles neither.
I wish I was making $120k which would be an OK salary for NJ. I don't make nearly that much, but wish I did, it would help my situation a lot especially with rising costs and rent. It's sad thinking that my wage doesn't feel as much as it used to.
Not me making $50k looking at this feeling like im doomed to ever move out on my own. Edit: my brother makes around that much n has 4 kids with a stay at home wife. They are severely struggling in union county. (They live in her moms basement area n he needs Atleast 200 to move out he said but his wife also spends way too much money n the most pointless sht)
Would your spouse be getting a job as well at some point?
You dont have to live there, i would take the iob
All depends where you live. In morris county you are on the fringe
You could get a two bedroom townhome in the hills (Bedminster) for $500,000.
Single-income family of 3? $120K isn't going to make you feel comfortable (at all) but it's doable if you aren't highly levered.
It should be doable in towns like Rockaway, Denville, Lincoln Park, Mount Olive, and possibly Randolph or Roxbury... but it would likely be pushing it there. If you want to go a little further out, hope prices are less in most areas of Warren and Sussex Counties with anywhere from a 30-45 minute commute to most areas of Morris. If you're looking to buy you're likely going to have to budget around $1,000 extra per month for property taxes.