Gloucester County Real Estate and Livability Trends
In Gloucester County, New Jersey, the real estate market reflects a strong local economy with average taxable income per tax return climbing from $66,688 in 2013 to $88,427 in 2021. This, coupled with rising median home values to $265,200 in 2022, could entice investors seeking cheaper alternatives to state averages. Meanwhile, the area’s reduced student-to-teacher ratio and declining property... Read more
Gloucester County Market Trends
Over the last eight years, Gloucester County, New Jersey has seen its median home value grow from $214,500 in 2015 to $265,200 in 2022, still falling short of the state average, which might appeal to real estate investors seeking cheaper alternatives. Notable fluctuations in the average residential energy tax credit per return, from $341.81 in 2013 to $5,010.81 in 2018, suggest significant... Read more
Median Value of Occupied Housing Units in Gloucester County, New Jersey Over the Last 8 Years
Over the last eight years, Gloucester County, New Jersey has seen its median home value grow from $214,500 in 2015 to $265,200 in 2022. This trend aligns with the broader pattern observed statewide, where New Jersey's median home value rose from $315,900 to $401,400 over the same period. Interestingly, while both Gloucester County and New Jersey surpass the national median home value, which increased from $125,500 to $179,400, Gloucester County's home values remain significantly lower than the state average. This may present intriguing opportunities for those looking to invest in New Jersey real estate without the premium prices seen in other counties.
Residential Energy Tax Credit Per Tax Return in Gloucester County, NJ Over the Last 9 Years
Over the past nine years in Gloucester County, New Jersey, the average residential energy tax credit per tax return has seen notable fluctuations. Starting at approximately $341.81 in 2013, there was a significant increase to $5,010.81 by 2018. Post-2018, the figures began to decline, leveling off around $1,910.40 by 2021. These variations might suggest underlying changes in energy-efficient home investments or possibly shifts in state or federal incentives, thus highlighting a dynamic market for homeowners and investors looking to capitalize on energy tax credits.
Average Real Estate Taxes Per Tax Return in Gloucester County, NJ Over the Last 10 Years
Real estate taxes in Gloucester County, New Jersey have seen a general upward trend over the past decade, hitting a peak of $8,929.06 in 2020 before a slight dip to $8,773.05 in 2021. This consistent increase could indicate rising property values or escalating municipal budgets. For prospective investors or homebuyers, this trend underscores the importance of factoring in higher property tax expenses. Real estate agents, appraisers, and insurance agents might also note the potential impacts on property valuations and insurance premiums in the area.
Percentage of Farm Returns in Gloucester County, NJ Over the Last 10 Years
In Gloucester County, New Jersey, the trend in farm tax returns shows a gentle decline over the past decade, falling from approximately 0.39% in 2012 to around 0.32% in 2021. Farm tax returns are essentially declarations filed by farm owners to report income and expenses associated with their agricultural activities, which can reflect the economic health of the farming sector in the region. This declining trend may suggest a decrease in the number of active farms or a shift in land use, providing a critical insight for investors, potential residents, and property developers about the economic shifts and agricultural viability in the county.
Number of Mortgages by Occupancy Type in Gloucester County, NJ Over the Last 5 Years in Gloucester County
Mortgage data in Gloucester County, New Jersey, reveals that principal residences consistently dominate the market, with investment properties and second residences trailing significantly. Interestingly, there was a surge in mortgages for principal residences and investment properties in 2021, possibly indicating heightened market activity or shifts in buyer behavior. These shifts could reflect changing economic conditions or evolving consumer preferences, crucial insights for investors, appraisers, and real estate agents. Understanding these trends helps prospective homeowners, builders, and insurance agents better anticipate market demands, effectively manage risks, and seize opportunities in this dynamic landscape.
Economic Outlook
Gloucester County, New Jersey's real estate market appears to be supported by a steadily climbing average taxable income per tax return, which jumped from $66,688 in 2013 to $88,427 by 2021. This increase hints at a strong local economy that might attract investors and homebuyers. Meanwhile, average state and local income taxes have also risen, hitting $9,348.00 in 2021, a shift that could influence financial planning for newcomers. Additionally, the average total tax liability has been... Read more
Average Taxable Income per Tax Return in Gloucester County, NJ over the last 9 years
Gloucester County, New Jersey has seen a steady climb in the average taxable income per tax return from approximately $66,688 in 2013 to around $88,427 by 2021. This upward trend suggests a potentially robust local economy and increasing personal earnings, which may be attractive to investors, real estate agents, and those considering relocation or property development. The growth in average taxable income could also be of interest to appraisers and insurance agents as it may correlate with property value trends and risk assessments.
Average State and Local Income Taxes Per Tax Return in Gloucester County, NJ Over the Last 10 Years
In Gloucester County, New Jersey, the average state and local income taxes per tax return have consistently risen over the last decade. Starting at $5,152.55 in 2012, this figure climbed steadily to $9,348.00 by 2021. Notable jumps occurred in 2018 and 2021, suggesting significant shifts in tax policies or economic conditions affecting taxpayers. For potential investors, movers, or real estate professionals, understanding these tax trends can be crucial for financial planning and assessing fiscal pressures in the area.
Average Total Tax Liability Per Tax Return in Gloucester County, NJ Over the Last 10 Years
The average total tax liability per tax return in Gloucester County, New Jersey has shown a consistent upward trend over the last decade. Starting at approximately $9,956.68 in 2012, liabilities gradually climbed to $11,441.26 by 2015 and $11,881.61 in 2017. Though there was a slight dip in 2018 to $11,724.95, the amount rebounded and reached $14,156.73 by 2021. For those investing or moving to the area, this trend might suggest increasing fiscal responsibilities, which can impact overall affordability and financial planning.
Cost of Living in Gloucester County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,883 | $1,524 | $1,790 | $1,828 | $1,706 |
| 1 adult 4 children | $1,883 | $1,245 | $1,359 | $1,828 | $1,818 |
| 2 adults 3 children | $1,883 | $1,245 | $1,558 | $1,828 | $1,444 |
| 1 adult 3 children | $1,883 | $1,017 | $1,127 | $1,828 | $1,581 |
| 2 adults 2 children | $1,547 | $1,019 | $1,326 | $1,601 | $1,162 |
| 1 adult 2 children | $1,547 | $761 | $895 | $1,601 | $1,175 |
| 2 adults 1 child | $1,547 | $806 | $1,094 | $863 | $970 |
| 1 adult 1 child | $1,547 | $520 | $663 | $863 | $883 |
| 2 adults | $1,282 | $647 | $862 | $0 | $759 |
| 1 adult | $1,138 | $353 | $431 | $0 | $649 |
Safety trends & Data
Property crime in Gloucester County, New Jersey has generally declined over the past five years. Burglary incidents dropped from 154 in 2018 to 66 in 2022, and larceny-theft cases decreased from 577 to 424 during the same period. While motor vehicle thefts and handling stolen property have also shown consistent reductions, issues like vandalism and fraud still require attention. These trends suggest an improving safety environment that could favor residential and commercial... Read more
Property Crime Trends in Gloucester County, NJ Over the Last 5 Years
Over the last five years in Gloucester County, New Jersey, property crime trends suggest a notable decrease in several categories. Burglary incidents dropped significantly from 154 in 2018 to just 66 in 2022. Larceny-theft, while fluctuating, also shows a general downward trend with a peak at 577 cases in 2018 dropping to 424 cases in 2022. Motor vehicle thefts and incidents of handling stolen property have seen less dramatic but consistent reductions. For those considering investment or property development in Gloucester County, these trends may reflect improving safety and potentially a more stable environment for both residential and commercial growth. However, categories like vandalism and fraud require continued monitoring as they still present variability.
Demographics
Gloucester County, New Jersey, shows a relatively balanced gender distribution, with a slight female majority. Educational attainment reveals that a significant portion of adults hold at least a high school diploma, and many have pursued higher education degrees. The age distribution highlights a considerable number of residents in the 35-64 age bracket, suggesting a potentially stable workforce. The racial makeup is predominantly White, while there are notable representations of Black or... Read more
Race Distribution in Gloucester County, New Jersey (2022)
Educational Attainment in Gloucester County, New Jersey (2022)
Age Distribution in Gloucester County, New Jersey
Citizen Population in Gloucester County, New Jersey (2022)
Political Trends & Data
In Gloucester County, New Jersey, the 2020 U.S. Presidential Election leaned slightly towards the Democratic Party, indicating a relatively competitive political landscape. The presence of Libertarian, Green, and other minor party votes suggests a modest yet tangible interest in alternative political voices, potentially influencing future election strategies for both major and minor... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Gloucester County, New Jersey, the 2020 U.S. Presidential Election leaned slightly towards the Democratic Party, which might suggest a competitive political landscape with Democrats holding a slim margin over Republicans. The presence of Libertarian, Green, and other minor party votes could indicate a modest but tangible appetite for alternative political voices in this region. This variability in party support could play a crucial role in shaping future election strategies for both major and minor parties.
48.27% of voters voted for the Republican party in the 2020 Presidential Election
50.22% of voters voted for the Democrat party in the 2020 Presidential Election
0.94% of voters voted for the Livertarian party in the 2020 Presidential Election
0.26% of voters voted for the Green party in the 2020 Presidential Election
0.32% of voters voted for the Other party in the 2020 Presidential Election
School Data
Gloucester County, New Jersey has seen a consistent decrease in its student-to-teacher ratio, now around 11 students per teacher compared to the national average of 14. This trend could make the area more appealing to families, suggesting a focus on educational quality and smaller class sizes. Real estate investors and developers might find these factors attractive, hinting at potentially higher property values and increased... Read more
Student-to-teacher ratio in Gloucester County, New Jersey over the last 10 years
Over the past decade, Gloucester County, New Jersey has shown a consistent decrease in its student-to-teacher ratio, starting from 13 students per teacher in 2014 and declining to around 11 students per teacher in recent years. This ratio is lower than the current national average, which is 14 students per teacher. For those looking to invest in, move to, or develop property within the county, this trend may suggest a focus on educational quality and smaller class sizes, possibly making the area more attractive to families. Additionally, insurance agents and real estate appraisers might consider these educational metrics as factors that can positively influence property values and demand.
