The price of legal cannabis in New Jersey remains relatively high, but options for affordable purchases are emerging. As of November 14, consumers can buy an eighth-ounce of cannabis for as low as $20 at specific dispensaries, according to an analysis of menus from 76 dispensaries across the state conducted by the Asbury Park Press.
The average price for an eighth-ounce of recreational cannabis in New Jersey stands at $46.17, while medical marijuana patients pay an average of $42.34. Prices can vary significantly between dispensaries and even day-to-day.
Brute’s Roots, an independent dispensary located in Egg Harbor Township, offers the lowest price for recreational cannabis, selling an eighth-ounce of its Goodfather strain for just $23. This price is $13 less than the next cheapest option, which is Ascend’s Fort Lee dispensary in Bergen County, where an eighth-ounce of Find’s Tarts #9 popcorn buds costs $36.
For medical marijuana patients, Harmony Dispensary in Secaucus provides the most affordable option, with an eighth-ounce of various strains from its in-house brand priced at only $20. However, Harmony is set to close at the end of the month due to the expiration of its lease, following the loss of its license to cultivate adult-use cannabis.
In Hoboken, patients face higher prices, with an eighth-ounce of certain strains available for $55 at The Station, which is the first New Jersey location for Terrapin Care Station.
The pricing data indicates that more dispensaries in an area often correlate with lower prices. In North Jersey, where 15 recreational dispensaries operate across Bergen, Hudson, and parts of Essex and Passaic counties, the average price for the cheapest eighth-ounce of recreational cannabis is $45.07, while medical marijuana patients find it slightly lower at $41.36.
In Somerset and Middlesex counties, the average price for the cheapest eighth-ounce is $46.25, closely mirroring the statewide average of $44.75 for medical marijuana.
Conversely, the cheapest recreational eighth-ounce in Atlantic and Cape May counties costs about $48, largely due to Brute’s Roots offering a lower price that is $19 cheaper than the next closest competitor. In the northwestern part of the state, where five dispensaries are located, the average price for an eighth-ounce is $50.07.
Overall, the average price of cannabis in New Jersey has fallen from approximately $16.27 per gram in May 2022 to $13.06 per gram by July 2023. Despite this decline, New Jersey’s cannabis prices remain the highest on the East Coast. For comparison, the average price for cannabis in Massachusetts was $5.55 per gram on October 31, and Maryland’s average was $9.27 per gram when legal sales began in July.
The ongoing changes in the cannabis market highlight the fluctuations in pricing and availability, particularly in response to the number of dispensaries operating in a given area.
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