Thinking About Leaving New Jersey? 5 Things That Changed in 2026
Real estate agent Kevin Hill at a signpost pointing to Florida, Delaware, and staying in New Jersey on a Bergen County street
Over the last few years, I've watched several friends reach the same conclusion: they couldn't afford to live in New Jersey anymore. They sold and moved to the west coast of Florida.
Right now, another friend of mine in Ho-Ho-Kus is going back and forth about Delaware. Her reasons are the ones I hear constantly: lower property taxes, more affordable houses, being near the beach, and what she calls "a better quality of life."
She might be right. But a lot changed in 2026, and some of it cuts in directions most people don't expect. If you own a home in Bergen County or anywhere in North Jersey and you're weighing whether to stay, sell, downsize, or go, here's what you should know first.
1. The senior property tax relief you were promised got smaller
Stay NJ was supposed to be the program that let seniors afford to stay. It pays 50% of your property tax bill, calculated after your ANCHOR and Senior Freeze benefits, with a maximum benefit of $6,500. NJ Programs
Then the budget happened. Under the Fiscal Year 2027 Appropriations Act, signed June 30, 2026, the third-quarter payment is being split in two, with half paid in August 2026 and half in November 2026, and the state says recipients will end up with a lower overall benefit for calendar year 2026. New Jersey Department of the Treasury
Fewer people qualify, too. The income limit is $200,000 for the 2025 benefit year, down from $500,000 for 2024. NJ Programs
What to do: If you're 65 or older, file anyway. One PAS-1 filing, due November 2, 2026, covers Stay NJ, ANCHOR, and the Senior Freeze together. Just don't build your retirement budget around Stay NJ arriving on time and in full. The state itself says the availability of these relief programs is subject to State Budget appropriations. If staying in your home only works with the full benefit, your plan depends on Trenton, and Trenton just showed you how far that goes. NJ Programsnj
2. Mortgage rates went the wrong direction
You may not need a mortgage. Your buyer almost certainly does.
Freddie Mac reported the 30-year fixed rate averaged 6.95% as of September 17, 2026, up from 6.76% the week before. A year earlier, it averaged 6.26%. Freddie Mac
Here's what that means for a real buyer. Take an $800,000 North Jersey home with 20% down. At last year's rate, principal and interest ran about $3,945 a month. At today's rate, it's about $4,235. That's roughly $290 more every month for the same house, before property taxes and insurance.
What it means for sellers: Buyers shop by monthly payment, not list price. Homes priced for today's market still sell. Homes priced to what the neighbor got last spring sit, and then they get reduced.
3. Prices are still up, but the market may be flattening
Here's what the local numbers actually show, based on median closed sale prices from MLS data:
January through August 2026: The average monthly median was $821,625, up about 5.8% from the same period in 2025.
Since 2019: That same January through August figure is up about 81%.
The peak: June 2026 hit $876,000, the highest monthly median in ten years of data.
The warning sign: August 2026 came in at $800,000, essentially identical to August 2025 at $800,500.
One month doesn't make a trend, and monthly medians bounce around. But flat year-over-year numbers, arriving right as mortgage rates hit their highest level in months, are worth watching. If you've been waiting for "the top," you may be looking at it. Nobody can promise that, but I'd rather sell into a strong market than chase one on the way down.
Condition matters more at 7% rates. A buyer stretching to make the payment has nothing left over for a new roof, a dated kitchen, or an oil tank removal. Homes with deferred maintenance take a bigger hit in this environment, which is why the "fix it up or sell it as-is" decision deserves real numbers, not a guess.
4. New Jersey is still #1 for moving out, but read the fine print
For the eighth consecutive year, more residents moved out of New Jersey than any other state in United Van Lines' study, with 62% of its New Jersey moves heading out. United Van Lines
Before you call the movers, consider three caveats.
It's one company's data. United Van Lines handled 3,191 New Jersey shipments in the 2025 study. That's a useful signal, not a census. factcheck
Some destinations are cooling. Texas and Florida, historically powerhouse inbound destinations, are now experiencing balanced migration patterns, which the study attributes to rising housing costs beginning to constrain even traditionally attractive regions. PR NewswireNjbmagazine
People are also moving in. 21% of inbound moves to New Jersey were movers aged 18 to 34, with the state considered a "launch state" for younger families and those starting careers. Those are your buyers. Younger households want North Jersey for the commute and the schools, which is a big reason well-priced homes here still sell. PR Newswire
5. Property taxes are still the elephant in the living room
None of this changes the core issue. According to the state's official figures, the average residential property tax bill in Bergen County was $13,600 for tax year 2024, with Demarest at $24,741 and Tenafly at $23,837. nj
If your kids are grown, you're no longer using the schools, and you're writing a five-figure check every year to heat four empty bedrooms, asking whether that still makes sense is reasonable.
The two moves I hear about most: Florida's west coast and Delaware
Here's the reality check I'd give any friend, and have.
Florida's Gulf Coast
No state income tax is real, and so are the lower home prices in many areas. Insurance is the part people underestimate. In Tampa Bay (Hillsborough, Pinellas, and Pasco counties), homeowners insurance runs roughly $3,285 to $5,100 per year. Hurricane deductibles are a percentage of the home's value, not a flat amount. On a $400,000 Tampa Bay home, a 2% deductible means $8,000 out of pocket before the carrier pays anything for hurricane damage, and the region took surge and wind from back-to-back storms in 2024. LivecoveredLatent Insurance
The good news: the Florida insurance market is softening in 2026, with numerous carriers filing rate reductions and new insurers entering the state. My friends who moved are happy. They also budgeted for insurance before they bought, not after. Livecovered
Delaware
This is where my Ho-Ho-Kus friend is leaning, and it's a legitimately strong option. Delaware ranked fourth in the country for inbound moves. But "no state tax" is a myth, and it's worth clearing up. Nice News
Delaware has no sales tax. It does have an income tax. The rates are graduated, with seven brackets topping out at 6.6 percent. For retirees, the picture improves a lot: Delaware doesn't tax Social Security, and retirees 60 and older get a $12,500 pension exclusion. (New Jersey doesn't tax Social Security either, and it offers its own retirement income exclusion for households under certain income limits, so compare your actual numbers, not the headlines.) AARPBrevy Care
Property taxes in Delaware are still far lower than Bergen County, but they're in flux. The state was forced to reassess property values for the first time in decades, and homeowners throughout the state faced steep tax increases, in some cases thousands of dollars. In New Castle County, the fallout is still going: tax bills are now expected to be mailed in mid-November 2026, with payment due December 31, 2026. If you're buying in Delaware, get the current, post-reassessment tax figure for the specific property, not last year's listing sheet. WHYYNew Castle County
Is Delaware still likely to cost a Ho-Ho-Kus retiree less? For many people, yes. But "likely" isn't a plan. Run the numbers.
So should you stay or go?
The honest answer: it depends, and anyone who tells you otherwise is selling something.
Staying often makes sense if your home is paid off or close to it, your health and family are anchored here, you qualify for the relief programs, and your total housing cost fits comfortably inside your income even if Stay NJ gets trimmed again.
Selling often makes sense if your equity is sitting idle while taxes and maintenance eat into your income, the house needs work you don't want to fund or manage, or your family has already moved and you're the one making the long drive.
The mistake to avoid is deciding based on a national headline, a neighbor's sale price from 18 months ago, or a relative who swears their new state is paradise. Run your own numbers: what your home would actually net after costs, what you'd really pay to live where you're going (including insurance and taxes), and what your life looks like in five years under each scenario.
Let's run your numbers
I'm Kevin Hill, and I've been a licensed New Jersey real estate agent since 2009. I work as a hybrid agent, which means I can do two things most agents can't:
Sell your home at full retail value as your listing agent, marketing it to every qualified buyer in the market.
Buy your home directly, as-is, as an investor. No repairs, no showings, no waiting on a buyer's mortgage approval.
Most agents can only offer the first option. Most investors only offer the second. I'll lay out both side by side, with real numbers, and tell you which one puts more money in your pocket. Sometimes that's the listing. Sometimes it's the cash offer. You decide.
No obligation. No sales pitch. Just a straight answer.
Call or text Kevin at 201-214-1349 | Get your free home value analysis
About the Author
Kevin Hill has been a licensed New Jersey real estate professional since 2009, helping homeowners in Bergen County and North Jersey sell, downsize, and relocate. As a hybrid agent, he can list homes for top dollar or buy them directly as-is, which makes him a go-to resource for estates, inherited homes, properties that need work, and sellers on a tight timeline. Keller Williams Valley Realty, 123 Tice Blvd, Woodcliff Lake, NJ 07677 Connect on LinkedIn
