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Old 08-19-2019, 05:15 AM
 
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can my newly-graduated-from-college daughter afford to live in Peapack NJ on 40k and pay back student loans? Looks like apartments are very pricey. Thanks for your help
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Old 08-19-2019, 09:53 AM
 
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Peapack-Gladstone is one of the wealthiest towns in NJ, populated chiefly by "old money" types who own large, single family homes. Thus, there are not likely to be a lot of apartments available in that pricey town.

Why/how did she come to focus on that town? If she is going to be working nearby, she could easily live in Somerville, which is only ~20 minutes away, by car. In addition to having a LOT of rentals available in and near its "walkable" downtown, Somerville is a town on the rise, with a growing population of younger folks, including artsy types.
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Old 08-19-2019, 12:48 PM
 
Location: Northern NJ/Amagansett, NY
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I agree. it is a strange place for a young single person to want to live.
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Old 08-19-2019, 12:53 PM
 
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I agree it is not the best area for a young person because there is nothing to do.

However, I have lived there, and there is reasonable priced living in that area if you look at Mt Olive, Flanders for that very reason.

Very reasonably priced apartments, or if you could get a room in a house, even cheaper.
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Old 08-19-2019, 12:57 PM
 
Location: Westfield, NJ
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Morristown could be another good area for a young person to live while working in Peapack...about 30min drive, with some local roads to chose from (instead of 287...)

About the budget part of the question: I think 40k is doable but tight, in any of the towns mentioned, in particular considering that she'll need a reliable car and pay loans
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Old 08-19-2019, 02:01 PM
 
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Quote:
Originally Posted by barbaraval View Post
can my newly-graduated-from-college daughter afford to live in Peapack NJ on 40k and pay back student loans?
Yes. She can. If she gets herself a Peapack Glad-y sugar daddy.

Otherwise, go with Somerville or Morristown.

Mt Olive or Flanders (or Hackettstown) would work too. But your daughter will probably find more 22 year-old party people in Somerville and Morristown. In NJ, the farther west you go, the more rural/remote it becomes. But if she's a country girl and that's her thing, she'll like it just fine.
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Old 08-19-2019, 03:00 PM
 
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Things will be very tight, and roommates will be suggested. Find a place in Bedminster or Morristown.
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Old 08-21-2019, 07:19 AM
 
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Originally Posted by AnesthesiaMD View Post
I agree. it is a strange place for a young single person to want to live.
Let's assume this daughter is intelligent and isn't interesting in hanging out in bars. Peapack, NJ is another very nice area.

She will find a place to rent with room mates on a $40K a year salary.
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Old 08-21-2019, 08:56 AM
 
Location: Northern NJ/Amagansett, NY
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Originally Posted by rummage View Post
Let's assume this daughter is intelligent and isn't interesting in hanging out in bars. Peapack, NJ is another very nice area.

She will find a place to rent with room mates on a $40K a year salary.
I know plenty of highly intelligent people who like hanging out in bars. Most of them are lawyers. . The two aren’t mutually exclusive.

But that is besides the point. Even if she doesn’t “hang out in bars”, Most young people dont want to hang out with a bunch of older people with families. They usually want to be around other younger, single people, and I have spent enough time in Peapack-Gladstone to know that there are not a whole lot of those there. At least not, out and about.
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Old 08-21-2019, 09:50 AM
 
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Originally Posted by AnesthesiaMD View Post
I know plenty of highly intelligent people who like hanging out in bars. Most of them are lawyers. . The two aren’t mutually exclusive.

But that is besides the point. Even if she doesn’t “hang out in bars”, Most young people dont want to hang out with a bunch of older people with families. They usually want to be around other younger, single people, and I have spent enough time in Peapack-Gladstone to know that there are not a whole lot of those there. At least not, out and about.
PEA-pack in da house!!
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