The Great New Jersey Exodus: Why Residents Are Leaving the Garden State Every 14 Minutes
the staff of the Ridgewood blog
Ridgewood NJ, Is the “Garden State” becoming the “Goodbye State”? New data reveals a startling trend: New Jersey has secured a spot in the top five states people are fleeing most frequently. As the cost of living reaches new heights, many residents are asking themselves if they can afford to stay.
According to a study by the National Taxpayers Union Foundation, the pace of the departure is staggering—one resident leaves New Jersey approximately every 14 minutes. —
The “Tax Torture”: Why New Jerseyans Are Packing Up
For many, the decision to move isn’t about the weather or the culture—it’s about the wallet. New Jersey consistently ranks as one of the most expensive states in the U.S. due to two primary factors:
1. Sky-High Property Taxes
The Tax Foundation reports that New Jersey has the second-highest effective property tax rate in the nation. For homeowners, this means paying a significant premium for every $1,000 of their home’s value.
“I’m willing to pay if I have to, but it’s just too expensive to live here,” says Sammy Dimes of Old Bridge. “Property tax went up, and you don’t see the results.”
2. Aggressive Income Tax Rates
It isn’t just homeownership that’s costly. New Jersey also ranks fourth in the country for the highest maximum individual income tax rates. Because the state uses a graduated tax system, high earners find themselves handing over a larger percentage of their paycheck compared to neighbors in more tax-friendly states.
Is Retirement in NJ a Thing of the Past?
The “Exodus” isn’t just affecting young professionals; it’s hitting those looking toward the future. Many residents, like Tony Hansen, note that while they love their communities, the math simply doesn’t add up for the long term.
“Everything’s going up, and other states are making it easier for residents to live,” Hansen told News 12. “We definitely don’t see ourselves retiring in Jersey because of that.”
Where is Everyone Going?
While the IRS data shows people are leaving, they are largely flocking to states with:
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No state income tax (like Florida or Texas)
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Lower property tax burdens (like the Carolinas)
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Lower overall cost of living
The Bottom Line
New Jersey offers decent schools, beautiful beaches, and proximity to major hubs like NYC and Philly. However, for a growing number of taxpayers, the “price of admission” is becoming too high to justify.
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This is nothing no this has been going on for over 10 years now.
We moved down south GA and now saving 10k on property taxes alone!
We get dinged on the property taxes for sure.
I have a home in another state as well with lower property taxes, however they do ‘ding’ me on ‘personal property taxes’ on cars, motorcycles, boats and furniture. It still is cheaper than NJ until I get my homeowner insurance bill, which is more than my Ridgewood property taxes.