New Jersey faces significant population exodus due to rising costs

New Jersey is experiencing a significant population exodus, ranking first in the country for outbound moves last year. Since 2020, approximately 192,000 residents have left the state.

Major urban centers such as Newark and Jersey City are seeing losses in raw numbers, while smaller communities are also experiencing declines. Cape May County was the only county in the state to report a population loss last year, whereas growth in Ocean County is largely concentrated in Lakewood Township.

The primary drivers for this migration include high property taxes and rising housing costs. A recent study indicates that New Jersey residents must work more than 16 additional days per year compared to 2007 levels just to afford basic necessities like rent, groceries, and transportation.