Real Estate Blog: Madison No. 7 NJ Community for Retirees
Wednesday, April 16, 2014 • 2:34pm
MADISON, NJ - The real estate blog Movoto has ranked Madison Borough as the No. 7 community in New Jersey for retirees.
According to Chad Stiffney of Movoto, "We looked at the 110 places with a population of at least 10,000. We then ranked them based on cost of living, crime rates, weather, ease of travel, and amenities. Madison came in as the seventh-best place."
For its criteria, Movoto started with a list of all places in the New Jersey with at least 10,000 people, which, in this case, was a total of 110. Next, Movoto collected data for four different criteria from the U.S. Census (2010) and business listings. The four criteria we used were:
- Cost of living (higher being better, since you’ve saved for it)
- Crime rate (lower is better)
- Amenities (libraries, physicians, arts & entertainment, restaurants, shopping, adult education)
Weather (average summer temperature and air quality score)
Madison's crime rate is 667 crimes per 100,000 people, and the cost of living is No. 9 on Movoto's list.
"If you want culture in your own backyard, that’s no problem either, considering that the borough is home to the only Shakespeare theater company in New Jersey," the website says.
Neighboring Florham Park came in at No. 6 on Movoto's list. It was the only other ranked community in Morris County. See the entire list here: