Housing is cheap there now. A good value of around $300k gets a good house on a 5-6k sqrft lot. But commuting to NYC is a pain - roughly $300 monthly train ticket for a 1 hour ride from South Amboy to Penn Station.
The can probably be a secondary house, after we bought a first one. IF, a bridge is built between these areas to connect with the city, I'm sure the property value here will rise exponentially.