Cumberland County Real Estate and Livability Trends
Cumberland County, New Jersey, offers intriguing real estate prospects due to a consistently upward trend in median home values while remaining more affordable than the state average. The growth in average taxable income from $45,022.74 in 2013 to $59,726.36 in 2021 hints at a strengthening local economy and adds to the investment appeal. Rising property taxes could be a consideration for... Read more
Cumberland County Market Trends
Cumberland County, New Jersey's real estate market has shown some unique trends. Median home values have generally trended upwards but remain significantly lower than the state average, suggesting more affordable entry points while still offering better appreciation potential than the national average. The energy tax credits peaked in 2018, indicating a trend towards energy-efficient home... Read more
Median Value of Occupied Housing Units in Cumberland County, New Jersey Over the Last 8 Years
Over the past eight years, Cumberland County, New Jersey has seen its median home values fluctuate but generally trend upwards, reaching $192,900 in 2022. Despite this growth, Cumberland County's median home values remain significantly lower than the state average of New Jersey, which hit $401,400 in the same year. Interestingly, while Cumberland is below the state median, it slightly outpaces the national median, which stood at $179,400 in 2022. For potential investors or residents, this could suggest a more affordable entry point compared to other parts of New Jersey, yet still offering better appreciation potential than the national average.
Residential Energy Tax Credit Per Tax Return in Cumberland County, NJ Over the Last 9 Years
Residential energy tax credits in Cumberland County, New Jersey have significantly increased, peaking in 2018 at an average of $2385.14 per tax return. The data suggests a trend towards higher investment in energy-efficient home improvements, likely driven by rising awareness and incentives. Although values dropped to approximately $1406.04 in 2019 and stabilized around $1596.12 in 2021, the overall upward trajectory hints that the county is becoming more attractive for eco-conscious homeowners and investors. This dynamic might also indicate future opportunities for real estate development and increased property valuations centered around energy efficiency.
Average Real Estate Taxes Per Tax Return in Cumberland County, NJ Over the Last 10 Years
Over the last decade, Cumberland County, New Jersey has experienced a general upward trend in average real estate taxes per tax return, starting at around $4,900.11 in 2012 and reaching approximately $6,457.11 by 2021. Notable jumps occurred between 2017 and 2018, and again from 2018 to 2019, with increases of nearly $690 and $135, respectively. Despite minor fluctuations, such as the slight decrease from 2020 to 2021, the overall trend suggests rising property taxes, which could influence decisions regarding real estate investment and property development in the area. This upward trajectory is something appraisers, real estate agents, and potential investors should closely monitor.
Percentage of Farm Returns in Cumberland County, NJ Over the Last 10 Years
Cumberland County, New Jersey, has seen slight fluctuations in the percentage of farm tax returns over the past decade, hovering around 0.70% with some decrease in recent years. This matters for potential investors and residents, as such returns reflect the agricultural health and economic activity within the county. Understanding the farm tax returns can provide insights into local economic stability, potential property values, and opportunities for agribusiness development, making it a key factor for decision-making about investment and relocation.
Number of Mortgages by Occupancy Type in Cumberland County, NJ Over the Last 5 Years in Cumberland County
In Cumberland County, New Jersey, principal residence mortgages have consistently represented the majority of mortgage activity over the past five years, peaking at 7,381 in 2021. Investment property mortgages have shown a rising trend but remain significantly lower, with the highest being 422 in 2021. Second residence mortgages are minimal, never surpassing 73. Changes in occupancy type might matter because high principal residence activity suggests a stable market driven by long-term homeowners, which is appealing for investors and those seeking a robust real estate market. Lower investment property and second residence numbers indicate limited speculative buying and vacation home markets, potentially impacting appraisals, insurance considerations, and new property development decisions.
Economic Outlook
In Cumberland County, New Jersey, the average taxable income per tax return has seen a generally upward trend, increasing from $45,022.74 in 2013 to $59,726.36 in 2021. This could suggest a growing local economy, enticing potential investors and homebuyers. Additionally, average state and local income taxes have significantly increased, with a notable rise from $3,868.77 in 2012 to $10,538.30 in 2021, hinting at rising living costs. Total tax liability has also risen from $6,575.72 in 2012 to... Read more
Average Taxable Income per Tax Return in Cumberland County, NJ over the last 9 years
The average taxable income per tax return in Cumberland County, New Jersey has shown a generally upward trend over the past nine years, rising from around $45,022.74 in 2013 to approximately $59,726.36 in 2021. This increase may suggest a growing local economy or improved earning power for residents, which could be enticing for potential investors and homebuyers. Real estate agents and appraisers might find this data useful for forecasting property values, while insurance agents could consider it when assessing the economic viability of offering services in the area. For those building property, these figures might imply an area with increasing fiscal stability.
Average State and Local Income Taxes Per Tax Return in Cumberland County, NJ Over the Last 10 Years
Average state and local income taxes per tax return in Cumberland County, New Jersey have shown significant increases over the last decade, with a notable rise from $3,868.77 in 2012 to $10,538.30 in 2021. The sharpest jump occurred between 2017 and 2018, leaping from $5,032.88 to $7,900.25, hinting at potential policy changes or economic shifts during that period. Such trends might suggest rising costs of living and could be a key consideration for investors, potential movers, and property developers assessing future opportunities and expenses in the area.
Average Total Tax Liability Per Tax Return in Cumberland County, NJ Over the Last 10 Years
The average total tax liability per tax return in Cumberland County, New Jersey has generally increased over the past decade, from around $6,575.72 in 2012 to approximately $8,365.67 in 2021. Noteworthy increments occurred in 2015 and 2017, suggesting potential economic or policy changes. This upward trend could imply rising incomes or shifting tax policies, affecting decision-making for investors, real estate agents, and residents considering property values and potential tax burdens.
Cost of Living in Cumberland County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,941 | $1,448 | $1,790 | $1,894 | $1,676 |
| 1 adult 4 children | $1,941 | $1,182 | $1,359 | $1,894 | $1,809 |
| 2 adults 3 children | $1,941 | $1,183 | $1,558 | $1,894 | $1,420 |
| 1 adult 3 children | $1,941 | $966 | $1,127 | $1,894 | $1,562 |
| 2 adults 2 children | $1,471 | $968 | $1,326 | $1,626 | $1,070 |
| 1 adult 2 children | $1,471 | $723 | $895 | $1,626 | $1,100 |
| 2 adults 1 child | $1,471 | $765 | $1,094 | $755 | $890 |
| 1 adult 1 child | $1,471 | $494 | $663 | $755 | $768 |
| 2 adults | $1,143 | $615 | $862 | $0 | $681 |
| 1 adult | $1,095 | $335 | $431 | $0 | $605 |
Safety trends & Data
Property crime in Cumberland County, New Jersey, has seen fluctuations over the past five years. Larceny-theft, although peaking at 1,066 incidents in 2018, declined to 592 by 2022. Burglary incidents notably dropped from 162 in 2019 to 35 in 2021, indicating potential improvements in prevention or reporting measures. While motor vehicle thefts have remained relatively low with slight variations, vandalism and fraud incidents show moderate stability. These trends may offer valuable insights for... Read more
Property Crime Trends in Cumberland County, NJ Over the Last 5 Years
Over the past five years, property crime in Cumberland County, New Jersey, has shown some notable fluctuations. Larceny-theft has consistently topped the charts, peaking at 1,066 incidents in 2018 but declining to 592 by 2022. Burglary rates have significantly dropped from 162 incidents in 2019 to just 35 in 2021, suggesting some improvements in prevention or reporting. Motor vehicle thefts remained relatively low but saw slight variations, whereas incidents of vandalism and fraud exhibited moderate stability. These trends could be key for appraisers, real estate agents, and investors as they reflect on the area's evolving safety landscape.
Demographics
Cumberland County, New Jersey presents a mostly balanced adult population with males just slightly outnumbering females. When it comes to education, a significant portion of the population holds a high school diploma, but there's a notable gap in those with higher education degrees. Race distribution reveals a majority White population, followed by Black or African American, while other races are less represented. Age distribution skews towards a younger demographic, particularly under 34... Read more
Race Distribution in Cumberland County, New Jersey (2022)
Educational Attainment in Cumberland County, New Jersey (2022)
Age Distribution in Cumberland County, New Jersey
Citizen Population in Cumberland County, New Jersey (2022)
Political Trends & Data
In Cumberland County, New Jersey, the 2020 U.S. Presidential Election data indicates a modest Democratic preference, with Democrats potentially garnering around 52.5% of the vote. Republicans followed closely with approximately 46.4%, making the area moderately competitive. Libertarian and Green Party candidates attracted minimal support, each securing under 1% of the total vote, highlighting the county's primary two-party... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Cumberland County, New Jersey, the 2020 U.S. Presidential Election showed a slightly higher preference for Democratic candidates, with Democrats possibly capturing around 52.5% of the vote compared to Republicans' approximate 46.4%. Libertarian and Green Party candidates drew minimal support, each securing less than 1% of the overall vote. This distribution suggests that while the county leans Democratic, it remains competitive.
46.39% of voters voted for the Republican party in the 2020 Presidential Election
52.46% of voters voted for the Democrat party in the 2020 Presidential Election
0.64% of voters voted for the Livertarian party in the 2020 Presidential Election
0.22% of voters voted for the Green party in the 2020 Presidential Election
0.29% of voters voted for the Other party in the 2020 Presidential Election
School Data
Cumberland County, New Jersey has maintained a stable student-to-teacher ratio between 11 and 12 students per teacher, below the national average of 14. This trend could suggest smaller class sizes and more individualized attention for students. For investors, real estate agents, or families considering a move, this implies a strong local education system, potentially positively impacting property values and community growth. Appraisers and insurance agents might see this as an indicator of the... Read more
Student-to-teacher ratio in Cumberland County, New Jersey over the last 10 years
Cumberland County, New Jersey has seen a relatively stable student-to-teacher ratio over the past decade, maintaining levels generally between eleven and twelve students per teacher. This is notably below the national average of fourteen students per teacher, which could suggest smaller class sizes and potentially more individualized attention for students. For investors, real estate agents, or families considering a move, this trend might indicate a strong local education system, which can influence property values and community growth. Appraisers and insurance agents might also find this information indicative of the region’s commitment to education quality, impacting the overall desirability and risk assessments of properties within the county.
