4.  Vineland, N.J.

affordable small cities vineland new jersey
4
  • Population: 157,785
  • Median home price: $131,000
  • Median income: $68,600
  • % of homes sold that are affordable*: 93.2%

Vineland lies in the south of New Jersey, nearly equidistant from Philadelphia and Atlantic City, N.J. Glass bottle manufacturing, once the dominant industry, has declined but area plants still turn out scientific glass products like beakers and test tubes, according to Alex Curio, Vineland's director of community development.

The area is a bit depressed economically; its unemployment rate of 10.5% in December was four percentage points higher than the national rate. Parts of town have been designated as an Urban Enterprise Zone, giving it tax and regulatory advantages to try to pump up economic activity. Agriculture is still an important part of the economy with working truck farms located even within Vineland's city limits.

"Land is cheap, relative to the rest of New Jersey," said Curio.

The housing stock, other than a small part of downtown Vineland, is well maintained, and there are many bargains available in the housing market, according to Curio.

First published March 17, 2014: 1:33 PM ET
Source: National Association of Home Builders/Wells Fargo Housing Opportunity Index of 275 metropolitan areas. Population data is from Census Bureau.
*The Housing Opportunity Index is the percentage of new and existing homes sold that families earning the area's median family income could afford during the fourth quarter ended December 31, 2013. Prices of new and existing homes are based on figures from CoreLogic and mortgage data is based on rates reported by the Federal Housing Financing Agency.

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