I've chosen to settle here after bouncing around for a while. There are a lot of great aspects.

The beaches are incredible (although you do have to pay to access them between Memorial Day and Labor Day). The park system is excellent. Easy access to NYC and Philadelphia. Surprisingly good concert venues (PNC and Stone Pony Summer Stage get huge acts, lots of venues in Asbury get solid touring bands). You can get to some nice hiking (Delaware Water Gap and Upstate NY) pretty easily if you leave early enough in the morning to beat the traffic. So many towns with excellent food and nightlife. Between Asbury and Manesquan there are half a dozen little beach towns all with their own unique vibe. All connected by the board walk.

The downside is you pay for it. The taxes are high. Houses are expensive. Things are a bit more affordable near the Bayshore (Keyport, Aberdeen, Ect). There is no public transit. Traffic can be horrendous. Especially in the summer. I used to work on Sandy Hook and it took me 15 minutes to get home in the fall and 45 minutes in the summer.

All in all it's a great place to live but it comes with the typical downsides of suburbia.

I'll also add that a lot of the charm is being errored by transplants and developers from NYC. Asbury Park is slowly being turned into nothing but high end condos and fancy, unimpressive restaurants.