New Jersey Real Estate and Livability Trends
In New Jersey, the rise in average taxable income from $78,951.32 in 2013 to $111,838.11 in 2021 hints at growing affluence, likely affecting property values and investment opportunities. However, with state and local income taxes jumping from $9,541.27 in 2012 to $22,846.89 by 2021, the economic burden is increasing. Median home values also saw a significant rise, from $315,900 in 2015 to... Read more
New Jersey Market Trends
New Jersey has experienced a notable uptick in median home values, increasing from $315,900 in 2015 to $401,400 in 2022, well beyond national growth rates. Additionally, residential energy tax credits have been highly variable, with significant spikes in 2017 and 2018, hinting at state policy shifts or increased homeowner interest in energy-efficient upgrades. Real estate taxes have also been... Read more
Median Value of Occupied Housing Units in New Jersey Over the Last 8 Years
Over the past eight years, New Jersey has seen a steady increase in median home values, rising from $315,900 in 2015 to $401,400 in 2022. This upward trend significantly outpaces the national growth, where median values went from $125,500 to $179,400 in the same period. For investors and potential homeowners, this trend suggests a robust and continually appreciating market in New Jersey, positioning it as a potentially valuable and stable investment relative to the broader U.S. market.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in New Jersey over the last 10 years
Active Loans 30-60 Days Past Due in New Jersey over the last 10 years in New Jersey
Perent of loans that are Active Loans 90-180 Days Past Due in New Jersey over the last 10 years in New Jersey
Residential Energy Tax Credit Per Tax Return in New Jersey Over the Last 9 Years
Over the past nine years, residential energy tax credits in New Jersey have shown significant variability, with notable peaks in 2017 and 2018 at staggering averages of $1130.43 and $3697.17 per tax return, respectively. This fluctuation could suggest changes in state policies or varying homeowner investments in energy-efficient upgrades. Such trends could be critical for investors, real estate agents, insurance agents, and potential homeowners looking to gauge the economic and environmental investments in the region. Understanding these patterns may also be beneficial for builders and property developers seeking to leverage energy incentives to attract eco-conscious buyers.
Average Real Estate Taxes Per Tax Return in New Jersey Over the Last 10 Years
Over the last decade, average real estate taxes per tax return in New Jersey have shown a steady increase, starting from $8,729.41 in 2012 and rising to $11,905.73 by 2021. This upward trend, with a notable jump in 2017 and 2018, suggests that property taxes are becoming a significant factor for investors and homeowners. Such escalation might influence decisions regarding property investments, appraisals, and insurance valuations, while also potentially affecting the overall cost of living and market dynamics in the state.
Percentage of Farm Returns in New Jersey Over the Last 10 Years
Farm tax returns in New Jersey have generally seen a gradual decline over the past decade, dropping from 0.22% in 2012 to roughly 0.18% in 2021. This could indicate broader trends in the agricultural economy, potentially reflecting consolidation in the farming industry or shifting economic viability for smaller farms. For investors and those interested in real estate, this downward trend may suggest increasing opportunities for land repurposing or development. Changes in farm returns are an important gauge of the economic health of the agricultural sector, influencing local policies and investment potential.
Economic Outlook
In New Jersey, the consistent rise in average taxable income per tax return from $78,951.32 in 2013 to $111,838.11 in 2021 suggests increasing affluence, potentially driving up property values and investment opportunities. However, this affluence is tempered by a significant rise in average state and local income taxes, which grew from $9,541.27 in 2012 to $22,846.89 in 2021, particularly surging after 2018. These factors, combined with a steady increase in total tax liability per tax return,... Read more
Average Taxable Income per Tax Return in New Jersey over the last 9 years
Over the past nine years, New Jersey has experienced a consistent rise in average taxable income per tax return, with an impressive jump from approximately $78,951.32 in 2013 to $111,838.11 in 2021. This trend peaked notably in 2021, suggesting a possible correlation with economic factors such as inflation or shifts in employment patterns potentially benefiting residents. For investors, real estate agents, and insurance agents, this data hints at a growing affluence that could impact property values, investment opportunities, and risk assessments. For those considering moving to or living in the state, it may indicate a stronger local economy and potentially higher living standards.
Average State and Local Income Taxes Per Tax Return in New Jersey Over the Last 10 Years
Over the past decade, New Jersey's average state and local income taxes per tax return have shown a significant upward trend. Starting from $9,541.27 in 2012, there was a steady climb peaking sharply at $22,846.89 in 2021. Investors, real estate agents, and those considering relocating should note the sharp rise in tax obligations, especially from 2018 onwards, suggesting increased fiscal burdens which could impact disposable incomes and the overall cost of living. This trend may potentially influence property values, insurance considerations, and broader economic assessments within the state.
Average Total Tax Liability Per Tax Return in New Jersey Over the Last 10 Years
Over the past decade, New Jersey has seen a notable increase in the average total tax liability per tax return, rising from $15,578.35 in 2012 to $22,585.46 in 2021. Though there were slight fluctuations, particularly in 2018 and 2019, the general trend indicates a steady climb. This upward trajectory could imply a rising income level or higher tax rates, which might impact decisions for potential investors, new residents, and real estate development. Understanding these trends is crucial for appraisers and insurance agents when evaluating property values and risk assessments.
Cost of Living in New Jersey
Safety trends & Data
Property crime trends in New Jersey reveal shifts over the past five years that could impact real estate decisions. Fraud cases peaked at 17,742 in 2018 but decreased to 12,297 by 2020, while larceny-theft dropped significantly from 3,307 in 2018 to 1,997 by 2022. Arson and burglary show variability, with arson peaking at 631 in 2019 then declining to 413 in 2021. These fluctuations could reflect shifting criminal activities or successful law enforcement actions, which might be essential for... Read more
Property Crime Trends in New Jersey Over the Last 5 Years
Property crime trends in New Jersey indicate notable fluctuations across different categories over the past five years. While fraud consistently reports high numbers, peaking at 17,742 in 2018 but dropping to 12,297 in 2020, there's a marked reduction in larceny-theft, plummeting from 3,307 in 2018 to 1,997 by 2022. Interesting, crime categories such as arson and burglary show variability, with arson peaking at 631 in 2019 then declining to 413 in 2021. These patterns potentially highlight shifting criminal focuses or effective law enforcement measures, which could be critical for investment and real estate decisions, alongside considerations for appraisers and insurance assessments.
Demographics
In New Jersey, the gender split skews slightly more female, with males comprising around 310.90 million and females at roughly 331.19 million. Educational attainment reveals a highly diverse population; around 1.63 million hold bachelor's degrees, closely trailed by 1.67 million high school graduates. Interestingly, a notable portion, 1.00 million, attended some college without earning a degree. Age distribution highlights a mature demographic with the majority in the 25 to 64 age range,... Read more
Race Distribution in New Jersey (2022)
Educational Attainment in New Jersey (2022)
Age Distribution in New Jersey
Citizen Population in New Jersey (2022)
Political Trends & Data
New Jersey's 2020 U.S. Presidential Election illustrated a Democratic leaning, with Democrats capturing nearly 57.3% of the vote compared to Republicans' 41.4%. Minor parties like the Libertarian and Green parties seemed to have negligible influence, each pulling in less than 1%. This trend hints at broader demographic shifts or political dynamics that could influence everything from policy decisions to community planning and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
New Jersey's 2020 U.S. Presidential Election saw Democrats capturing nearly 57.3% of the vote, while Republicans garnered around 41.4%. Libertarian and Green parties, along with other smaller parties, likely made negligible impacts with less than 1% each. These figures suggest that New Jersey leans Democrat in national elections, potentially indicating broader demographic trends or state-level political dynamics.
41.40% of voters voted for the Republican party in the 2020 Presidential Election
57.33% of voters voted for the Democrat party in the 2020 Presidential Election
0.70% of voters voted for the Libertarian party in the 2020 Presidential Election
0.31% of voters voted for the Green party in the 2020 Presidential Election
0.26% of voters voted for the Other party in the 2020 Presidential Election
School Data
New Jersey's student-to-teacher ratio has declined over the past decade, moving from around 13 students per teacher in 2014 to nearly 11 in 2022. This trend might suggest that families may find the area appealing due to enhanced educational investments and more individualized attention in classrooms. For real estate agents, this could be a compelling selling point, linking lower student-to-teacher ratios with better educational outcomes. These changes might also signal shifts in local... Read more
Student-to-teacher ratio in New Jersey over the last 10 years
New Jersey's student-to-teacher ratio has noticeably declined over the past decade, moving from around 13 students per teacher in 2014 to closer to 12 in recent years, and even dipping to nearly 11 in 2022. This trend could suggest that educational investments have potentially been geared toward more individualized attention in classrooms, which may be attractive to families considering moving into the area. For investors and real estate agents, this can be an appealing selling point, as lower student-to-teacher ratios are often linked to better educational outcomes. However, insurance agents and property developers should stay abreast of these changes as they might indicate shifts in local demographics and housing needs. With numbers consistently below the national average of 14 students per teacher, New Jersey's education system appears to be relatively strong, possibly enhancing the state's overall appeal.
