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Buying a business: New Jersey vs Pennsylvania

Two markets side by side — inventory, pricing, and what you actually pay per dollar of cash flow, from live Waterfall data.

New Jersey

1,436 active listings
Active listings1,436 Edge
Median asking$300,000 Edge
Median cash flow$150,000
Typical multiple2.0×
Owner-earnings yield~50%
Median revenue$539,480
VS

Pennsylvania

984 active listings
Active listings984
Median asking$350,000
Median cash flow$172,000 Edge
Typical multiple2.0×
Owner-earnings yield~49%
Median revenue$678,000

Who wins?

New Jersey has 46% more businesses on the market than Pennsylvania (1,436 vs 984). New Jersey is cheaper at the median asking price. Both markets price at about the same 2.0× cash-flow multiple, so you pay a similar earnings premium either way — the difference is selection and entry price, not valuation.

MetricNew JerseyPennsylvania
Active listings1,436984
Median asking$300,000$350,000
Median cash flow$150,000$172,000
Typical multiple2.0×2.0×
Owner-earnings yield~50%~49%
Median revenue$539,480$678,000
Related comparisons

See the full New Jersey market or the Pennsylvania market, or set a Buy Box across both and let the matches come to you.

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