# New Jersey housing costs, migration, and retirement strain > Live situation record from CLSTR: https://clstr.news/situations/new-jersey-housing-costs-and-population-migration > Updated: 2026-10-09T05:24:28.000Z. Sources: 12. Developments: 6. New Jersey continues to face significant economic pressures related to housing and the cost of living. Data from 2026 indicates substantial year-over-year rent spikes across various regions, including Mercer, Bergen, and Essex counties, as well as parts of the Shore region. These rising housing costs, alongside high property taxes, have contributed to a significant population exodus. The state ranked first in the country for outbound moves last year, with approximately 192,000 residents leaving since 2020. While major urban centers like Newark and Jersey City have seen raw number declines, Cape May County was the only county to report a population loss in the most recent year. Newer data highlights how these economic factors are specifically impacting retirement longevity. A $1.2 million nest egg is projected to last approximately 24.69 years in New Jersey when combined with Social Security, a duration significantly shorter than in states like Oklahoma or Alabama. This disparity is influencing migration; for example, in 2024, 38,500 residents left New Jersey for Pennsylvania, outnumbering those who moved to Florida, as Pennsylvania is viewed as offering a longer-lasting retirement fund for the same level of savings. A Rutgers-Eagleton Poll indicates widespread financial strain, with 77% of residents rating the state economy as either ‘poor’ or ‘fair.’ Approximately 65% of residents struggle with housing costs, 66% face challenges with gasoline and transportation, and 63% report healthcare costs as a burden. The intensity of hardship has risen since March, with 45% finding education expenses ‘very difficult’ to afford and 46% describing childcare as ‘very difficult’ to manage. Low-income households are particularly affected, with over 80% of those earning $50,000 or less reporting struggles with housing, groceries, and utilities. ## Claims - A $1.2 million nest egg lasts 24.69 years in New Jersey with Social Security and 16.44 years without it. (single source) - In Oklahoma, a $1.2 million nest egg lasts 44.59 years with Social Security. (single source) - In 2024, 38,500 people moved from New Jersey to Pennsylvania. (single source) - Financial expert Barry Bigelow recommends having 10 to 12 times your annual salary saved by age 65. (single source) - The 4% withdrawal rule suggests covering expenses by withdrawing 4% of retirement savings in the first year. (single source) ## Timeline ### 2026-10-09: New Jersey residents report widespread economic strain A Rutgers-Eagleton Poll shows 77% of New Jersey residents rate the state economy as poor or fair, citing rising costs for housing, transportation, education, and groceries. 2 sources. https://clstr.news/cluster/new-jersey-residents-report-widespread-economic-strain ### 2026-09-29: New Jersey faces rising living costs and significant layoffs New Jersey faces rising living costs, with coffee prices reaching $3 averages, alongside significant job losses totaling over 13,000 layoffs announced by late September 2026. 3 sources. https://clstr.news/cluster/new-jersey-faces-rising-living-costs-and-significant-layoffs ### 2026-09-28: Retirement trends: Migration shifts and nest egg longevity New data shows New Jerseyans are increasingly moving to states like Pennsylvania for better retirement longevity, as high costs impact how long a $1.2 million nest egg lasts. 4 sources. https://clstr.news/cluster/retirement-trends-migration-shifts-and-nest-egg-longevity ### 2026-09-26: New Jersey cost of living exceeds national average New Jersey's cost of living remains significantly higher than the national average, driven by the nation's highest property taxes, elevated housing costs, and expensive auto insurance. 5 sources. https://clstr.news/cluster/new-jersey-cost-of-living-exceeds-national-average-by-12-percent ### 2026-09-25: New Jersey faces significant population exodus due to rising costs New Jersey leads the U.S. in outbound migration, with 192,000 residents leaving since 2020 due to high property taxes and rising costs of living. 3 sources. https://clstr.news/cluster/new-jersey-faces-significant-population-exodus-due-to-rising-costs ### 2026-09-21: New Jersey towns see significant rent spikes in 2026 New Jersey saw significant apartment rent increases through 2026, with the sharpest spikes occurring in Mercer, Bergen, and Essex counties and parts of the Shore region. 2 sources. https://clstr.news/cluster/new-jersey-towns-see-significant-rent-spikes-in-2026 --- Cite as: New Jersey housing costs, migration, and retirement strain. CLSTR, https://clstr.news/situations/new-jersey-housing-costs-and-population-migration