Bergen County Real Estate and Livability Trends
Bergen County, New Jersey, has displayed strong indicators of growing affluence, highlighted by a sharp rise in average taxable income per tax return to $147,753.88 in 2021. This trend suggests increasing property values and heightened real estate demand. Median home values in the area have surged over the past eight years, outpacing both state and national levels, hinting at strong local demand.... Read more
Bergen County Market Trends
Bergen County, New Jersey has experienced a notable rise in median home values over the past eight years, outpacing both state and national trends, which might signal strong local demand and property appreciation potential. The area has also seen fluctuations in residential energy tax credits, peaking in 2018 with a substantial increase, suggesting growing incentives for energy-efficient... Read more
Median Value of Occupied Housing Units in Bergen County, New Jersey Over the Last 8 Years
Bergen County, New Jersey has seen a steady increase in median home values over the past eight years, rising from $441,100 in 2015 to $561,500 in 2022. This marks a significant growth compared to the overall state median value, which went from $315,900 to $401,400 in the same period. Nationally, the increase is even more pronounced, with median values climbing from $125,500 to $179,400. For those looking to invest or move to Bergen County, the sharper rise in home values compared to both state and national trends could indicate strong local demand and potential for property value appreciation.
Residential Energy Tax Credit Per Tax Return in Bergen County, NJ Over the Last 9 Years
The average residential energy tax credit per tax return in Bergen County, New Jersey shows noticeable fluctuations over the past nine years. Starting at $364.04 in 2013, it rose consistently to $880.83 by 2017, and then saw a significant spike to $3,272.17 in 2018, which could reflect increased adoption of energy-efficient improvements or favorable policy changes. Post-2018, the value stabilized somewhat but remained higher than earlier years, reaching $1,408.60 in 2021. This trend suggests a growing incentive for property owners to invest in energy efficiency, making it an attractive opportunity for investors, homebuyers, and real estate agents focusing on green initiatives.
Average Real Estate Taxes Per Tax Return in Bergen County, NJ Over the Last 10 Years
The average real estate taxes per tax return in Bergen County, New Jersey, have been on an upward trend over the past decade. Notably, values increased from $10,846.56 in 2012 to $14,707.09 by 2021. This consistent rise in property taxes may have implications for potential investors and current homeowners, signaling higher costs of ownership. Real estate agents, appraisers, and insurance agents should be aware of these rising tax rates as they directly impact property values, investment returns, and insurance premiums in the area.
Percentage of Farm Returns in Bergen County, NJ Over the Last 10 Years
Bergen County, New Jersey, has shown relatively low and fluctuating percentage rates of farm tax returns over the past decade, seldom shifting outside the narrow margin of 0.03%. While there has been a subtle decline from 2012’s high of approximately 0.03% to 2017’s low of around 0.02%, there’s slight upward movement noticed from 2018 through 2021. These metrics could suggest limited agricultural activity or shifts in land use in the area, which might be a key consideration for prospective investors or property developers eyeing this region. Understanding such trends can be crucial for those looking to make informed decisions about rural investments or community impact due to changing land utilization patterns in Bergen County.
Number of Mortgages by Occupancy Type in Bergen County, NJ Over the Last 5 Years in Bergen County
Over the last five years in Bergen County, New Jersey, there's been a noticeable shift in the types of property mortgages. Principal residence mortgages have consistently remained high, though they slightly dipped in 2022. Interestingly, the number of investment property mortgages saw a peak in 2021, possibly indicating a spike in investment activities during that year. Meanwhile, second residences have remained relatively low and stable but showed a minor decrease in recent years. These trends can provide a nuanced view for investors, residents, and real estate agents, suggesting fluctuating investor confidence and a relatively stable market for principal homes. Understanding these shifts can help in assessing property values, forecasting market trends, and making informed decisions on property investments or developments.
Economic Outlook
Bergen County, New Jersey has seen a steady rise in average taxable income per tax return over the last nine years, notably spiking to $147,753.88 in 2021. This might indicate a growing affluent population, hinting at increased property values and higher demand for real estate. Average state and local income taxes also surged significantly, reaching $32,842.95 in 2021, reflecting perhaps rising affluence and making the area attractive for high-end developments. Additionally, the average total... Read more
Average Taxable Income per Tax Return in Bergen County, NJ over the last 9 years
Bergen County, New Jersey has experienced a fairly consistent increase in average taxable income per tax return over the past nine years, with notable jumps particularly from 2016 to 2017 and a significant spike in 2021, where it reached $147,753.88. This trend implies a growing income base and possibly an influx of higher-earning residents or successful local economic developments. For investors, real estate agents, and insurance agents, this potential increase in disposable income could mean higher demand and property values, while appraisers might need to consider this upward trend in their valuations. Conversely, those moving to the area could face rising living costs correlating with the income growth.
Average State and Local Income Taxes Per Tax Return in Bergen County, NJ Over the Last 10 Years
Over the last decade, Bergen County, New Jersey has experienced a significant uptick in average state and local income taxes per tax return. Starting at $13,746.88 in 2012, there was a notable jump to $32,842.95 by 2021. This uptick could imply growing affluence among residents, making the area a prime target for high-end development opportunities and suggesting a strong market for real estate investment. Potential investors and developers might see the rising tax values as a sign of increased property valuations and robust community amenities, although the higher taxes could be a consideration for new residents or businesses contemplating a move to the area.
Average Total Tax Liability Per Tax Return in Bergen County, NJ Over the Last 10 Years
Bergen County, New Jersey has experienced an overall upward trend in average total tax liability per tax return over the past decade. Notably, 2021 saw a substantial jump, reaching approximately $33,328.84, compared to around $22,411.27 in 2012. This could potentially affect property values, investment opportunities, and the attractiveness of the area for new residents or businesses. Those involved in real estate, appraisals, and insurance might see these trends impacting their evaluations and risk assessments.
Cost of Living in Bergen County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,460 | $1,725 | $1,790 | $3,133 | $2,520 |
| 1 adult 4 children | $2,460 | $1,409 | $1,359 | $3,133 | $2,554 |
| 2 adults 3 children | $2,460 | $1,409 | $1,558 | $3,133 | $2,268 |
| 1 adult 3 children | $2,460 | $1,151 | $1,127 | $3,133 | $2,353 |
| 2 adults 2 children | $1,981 | $1,154 | $1,326 | $2,689 | $1,771 |
| 1 adult 2 children | $1,981 | $862 | $895 | $2,689 | $1,825 |
| 2 adults 1 child | $1,981 | $912 | $1,094 | $1,248 | $1,206 |
| 1 adult 1 child | $1,981 | $589 | $663 | $1,248 | $1,186 |
| 2 adults | $1,707 | $733 | $862 | $0 | $872 |
| 1 adult | $1,428 | $400 | $431 | $0 | $748 |
Safety trends & Data
Over the past five years, Bergen County, New Jersey, has experienced fluctuating property crime rates. Burglaries dropped from 227 cases in 2019 to 107 in 2021, while larceny-theft cases peaked at 1,666 in 2019 but fell to 615 by 2021. Arson cases hit a peak of 16 in 2022. These trends could influence real estate investments, property values, and insurance costs. Potential movers and investors should consider these dynamics when evaluating neighborhood security and economic... Read more
Property Crime Trends in Bergen County, NJ Over the Last 5 Years
Over the past five years, Bergen County, New Jersey, has seen a significant fluctuation in property crime rates, particularly in burglary and larceny-theft cases. While 2018 and 2019 recorded higher incidents with 218 and 227 burglaries respectively, there's been a noticeable decline in the following years, bottoming out at 107 in 2021. Interestingly, arson and motor vehicle theft numbers portray an erratic trend, with a notable peak in arson cases in 2022 at 16. Cases of larceny-theft reached a high of 1,666 in 2019 but dropped dramatically to 615 in 2021 before slightly increasing in 2022. This data is pivotal for real estate developers, insurance agents, and potential investors in assessing the economic and social landscape for property investments and security measures. For anyone considering a move to Bergen County, these trends could impact decisions related to property values, insurance costs, and overall neighborhood security.
Demographics
In Bergen County, New Jersey, the adult population is slightly skewed towards females with 341,269 compared to 320,590 males. Educational attainment shows a significant portion of the population holding bachelor's degrees (around 208,030) and graduate or professional degrees (approximately 140,415). Age distribution data suggests a relatively balanced spread, with notable concentrations in the 25-34 and 35-44 age brackets. Racially, the county is predominantly White (593,955), followed by... Read more
Race Distribution in Bergen County, New Jersey (2022)
Educational Attainment in Bergen County, New Jersey (2022)
Age Distribution in Bergen County, New Jersey
Citizen Population in Bergen County, New Jersey (2022)
Political Trends & Data
In Bergen County, New Jersey, the real estate market's future could potentially be influenced by its political landscape, as the 2020 U.S. Presidential Election showed a noticeable Democratic preference with 57.7% of the vote. This deviation toward a more left-leaning electorate may impact local policies, municipal support structures, and even housing demand, particularly in amenities and community services favored by Democratic voters. While Republican support was also substantial at 41.2%,... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Bergen County, New Jersey, the 2020 U.S. Presidential Election results indicate a notable lean toward the Democratic Party, which garnered roughly 57.7% of the vote. The Republican Party received about 41.2%, suggesting a competitive but clear preference for Democrats among voters. Libertarian, Green, and other parties collectively accounted for a small fraction of the total votes, underlining the dominant two-party dynamic in this area.
41.23% of voters voted for the Republican party in the 2020 Presidential Election
57.67% of voters voted for the Democrat party in the 2020 Presidential Election
0.58% of voters voted for the Livertarian party in the 2020 Presidential Election
0.28% of voters voted for the Green party in the 2020 Presidential Election
0.25% of voters voted for the Other party in the 2020 Presidential Election
School Data
Bergen County, New Jersey has seen its student-to-teacher ratio fluctuate between 11 and 13 students per teacher over the past decade, generally staying below the national average of 14. However, a spike to 18 in 2021 could raise questions about the quality of education. Lower student-to-teacher ratios may lead to better educational outcomes, potentially increasing demand for housing and impacting property values. Sudden spikes might require scrutiny and could influence perceptions of the local... Read more
Student-to-teacher ratio in Bergen County, New Jersey over the last 10 years
Over the past decade, Bergen County, New Jersey has seen its student-to-teacher ratio generally remain below the national average of 14 students per teacher, fluctuating between 11 and 13 students per teacher, with a notable spike to 18 in 2021. Such changes might impact the quality of education, classroom engagement, and overall school funding, which could be of particular interest to potential investors, insurers, real estate agents, and families considering a move to the area. Lower ratios often suggest more individualized attention for students, potentially leading to better educational outcomes, which can drive demand for housing and impact property values. Conversely, sudden increases like the one seen in 2021 may be a red flag that requires further investigation and could affect perceptions of the local education system.
