Originally named Dover, what is now known as Toms River is a very livable city with over 91,000 residents. Nicely recovered from prior environmental issues, Toms River has become one of the more popular seaside communities on the East Coast. With its many cultural events, venues, shopping and great beaches like Normandy, Monterey, Ocean and Chadwick, it's unsurprising that Toms River is a favorite place for families to settle.
Toms River, NJ is a great place for affordable rent-to-own homes! With a median household income of over $80,145 and a median rent of $1,455, the Toms River, NJ rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Toms River, NJ. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Toms River, NJ is seeing rapid growth and Toms River, NJ's' housing market remains not optimal with an average home price that is 35% above the 2022 national average. Toms River, NJ is part of Ocean county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2022 for county Ocean is 1.47% which is above the national average, which is 0.99%.
Toms River, NJ has a walk score of
Toms River, NJ has a bike score of
The state tax rate is 1.4 to 10.75% on top of the federal tax rate of 10 to 37%.