The most expensive homes in New Jersey are primarily in the New York-Newark-Jersey City metro area, with Deal leading at a typical home value of $4.3 million, showing a 12.6% increase in one year and 88.2% over five years. Other high-value cities include Alpine ($3 million) and Loch Arbour ($3 million). Ocean City metro also features several costly cities. Home values have generally risen significantly over five years, despite high mortgage rates.