Hudson County Real Estate and Livability Trends
Hudson County, New Jersey's real estate market has seen notable economic shifts, including a significant rise in average taxable income per tax return to $94,165.15 in 2021 and a concurrent increase in state and local income taxes to $22,532.13. These changes, alongside a drop in poverty rates and a surge in median home values from $335,300 in 2015 to $486,900 in 2022, indicate an attractive... Read more
Hudson County Market Trends
Median home values in Hudson County, New Jersey surged from $335,300 in 2015 to $486,900 in 2022, significantly outpacing both state and national figures. Energy tax credits saw sharp increases, peaking at $2,242.31 in 2018, suggesting a growing interest in energy-efficient home improvements. Real estate taxes climbed from $7,034.75 in 2012 to $9,533.35 by 2021, likely reflecting shifts in... Read more
Median Value of Occupied Housing Units in Hudson County, New Jersey Over the Last 8 Years
Over the past eight years, median home values in Hudson County, New Jersey have shown a consistent upward trend, leaping from $335,300 in 2015 to $486,900 in 2022. When compared to the state of New Jersey and national figures, Hudson County exceeds both, with New Jersey's median values increasing from $315,900 to $401,400 and national figures from $125,500 to $179,400 in the same period. This significant rise in Hudson County suggests a strong local housing market, potentially making it an attractive area for real estate investment and development.
Residential Energy Tax Credit Per Tax Return in Hudson County, NJ Over the Last 9 Years
Hudson County, New Jersey has witnessed a fluctuating yet overall upward trend in average residential energy tax credits per tax return over the past nine years. After a modest rise from $371.78 in 2013 to $509.09 in 2016, there was a significant spike in 2017 reaching $854.24, and a dramatic increase to $2242.31 in 2018. Though it dropped to $1414.39 in 2019 and saw further adjustments in subsequent years, 2021 still stands at a notable $1276.80. This trend possibly indicates increasing investments in energy-efficient home improvements, making Hudson County an intriguing area for potential investors, real estate agents, and those considering sustainable living options.
Average Real Estate Taxes Per Tax Return in Hudson County, NJ Over the Last 10 Years
Hudson County, New Jersey has seen a notable upward trend in average real estate taxes per tax return over the past decade. Starting from $7,034.75 in 2012, it has incrementally risen each year, reaching $9,533.35 by 2021. The steepest increases appear to be between 2016 and 2017, and again between 2017 and 2019, which could indicate shifts in property valuations, local tax policy changes, or both. These figures suggest rising costs that potential homeowners and investors might need to account for when considering property in the area.
Percentage of Farm Returns in Hudson County, NJ Over the Last 10 Years
Hudson County, New Jersey, has seen a minuscule and generally declining trend in farm tax returns over the past decade, starting at 0.02% in 2012 and dipping down to roughly 0.01% by 2021. Farm tax returns represent the portion of tax filings specific to agricultural income and expenditures, an indicator of farming activity within the county. This trend might suggest that farming is not a significant industry in Hudson County, which could affect considerations for those looking to invest in or develop property with an agricultural focus in the area.
Number of Mortgages by Occupancy Type in Hudson County, NJ Over the Last 5 Years in Hudson County
Over the last five years, Hudson County, New Jersey has seen varying trends in mortgage counts across different occupancy types. Principal residences consistently make up the majority of mortgages, peaking in 2021 with over 26,000 counts, while investment properties and second residences show more modest figures but noticeable change: investment properties peaked in 2021 at around 5,600 but significantly declined by 2022. These changes in occupancy types can offer crucial insights for potential investors, developers, and realtors, emphasizing market preferences and potential shifts in the local real estate landscape. This is particularly important for appraisers and insurance agents to understand property usage trends, which directly impact property valuation and risk assessment.
Economic Outlook
Hudson County, New Jersey has experienced a noticeable rise in average taxable income per tax return from $61,596.76 in 2013 to $94,165.15 in 2021, making it potentially more attractive for investors aiming at higher-income demographics. Concurrently, average state and local income taxes per tax return surged from about $9,487.77 in 2012 to $22,532.13 in 2021, impacting disposable incomes and possibly influencing property values and living costs. Additionally, the area saw its average total tax... Read more
Average Taxable Income per Tax Return in Hudson County, NJ over the last 9 years
Hudson County, New Jersey has experienced a steady increase in the average taxable income per tax return over the past nine years, rising from $61,596.76 in 2013 to $94,165.15 in 2021. This upward trend could make the area more attractive for investors and property developers seeking higher-income demographics. Real estate agents may find it pertinent to highlight this growth, while insurance agents and appraisers could use this data for risk assessments and property valuations, respectively.
Average State and Local Income Taxes Per Tax Return in Hudson County, NJ Over the Last 10 Years
Over the past decade, Hudson County, New Jersey has seen a noticeable upward trend in average state and local income taxes per tax return, jumping from approximately $9,487.77 in 2012 to $22,532.13 in 2021. The substantial increase, particularly after 2017, may be indicative of rising incomes or increased local and state tax rates. This trend is relevant for anyone considering investment or relocation, as it can impact disposable income and overall living costs. Real estate agents, potential homeowners, and builders should consider these tax implications when evaluating property values and future development opportunities. For insurance agents and appraisers, the rising taxes might signal an evolving economic landscape with potentially higher property valuations and insurance premiums.
Average Total Tax Liability Per Tax Return in Hudson County, NJ Over the Last 10 Years
Hudson County, New Jersey has experienced a notable increase in average total tax liability per tax return over the last decade, moving from approximately $11,744.27 in 2012 to around $18,466.05 in 2021. This steady rise could indicate economic growth or rising incomes among residents, relevant for investors and real estate professionals assessing the area's financial health. Additionally, appraisers and insurance agents might consider these trends when evaluating property values and risk profiles. This also matters for potential movers looking to understand the financial landscape before committing to new properties.
Cost of Living in Hudson County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,578 | $1,524 | $1,790 | $1,793 | $1,767 |
| 1 adult 4 children | $2,578 | $1,245 | $1,359 | $1,793 | $1,887 |
| 2 adults 3 children | $2,578 | $1,245 | $1,558 | $1,793 | $1,527 |
| 1 adult 3 children | $2,578 | $1,017 | $1,127 | $1,793 | $1,680 |
| 2 adults 2 children | $2,088 | $1,019 | $1,326 | $1,539 | $1,174 |
| 1 adult 2 children | $2,088 | $761 | $895 | $1,539 | $1,219 |
| 2 adults 1 child | $2,088 | $806 | $1,094 | $714 | $985 |
| 1 adult 1 child | $2,088 | $520 | $663 | $714 | $928 |
| 2 adults | $1,821 | $647 | $862 | $0 | $830 |
| 1 adult | $1,765 | $353 | $431 | $0 | $848 |
Safety trends & Data
In Hudson County, New Jersey, property crime trends have shown significant changes over the past five years. With burglary and larceny-theft hitting their lowest levels in 2021 at only 97 and 429 incidents, this marks a potential decrease in residential and business vulnerabilities. However, motor vehicle theft has stayed relatively steady, peaking slightly in 2019. Notably, the decline in fraud and embezzlement cases suggests improvements in economic crime prevention, which could be an... Read more
Property Crime Trends in Hudson County, NJ Over the Last 5 Years
Over the last five years, Hudson County, New Jersey, has seen notable fluctuations in property crime. Burglary and larceny-theft reached their lowest points in 2021, with only 97 and 429 incidents respectively, compared to previous years. In contrast, motor vehicle theft has remained relatively steady, peaking slightly in 2019. Fraud and embezzlement cases show a marked decrease in recent years, indicating potential improvements in economic crime prevention. For investors and real estate professionals, understanding these trends could be crucial for risk assessment and property valuation.
Demographics
Hudson County, New Jersey, showcases a slight female majority in its adult population. Education levels are quite varied, with the majority holding a high school diploma or higher, and a significant portion achieving bachelor's or graduate degrees. The age distribution indicates a sizeable young adult demographic, particularly between ages 25 to 34, suggesting a relatively youthful county. Racially, the area seems notably diverse, with substantial populations of White, Black or African... Read more
Race Distribution in Hudson County, New Jersey (2022)
Educational Attainment in Hudson County, New Jersey (2022)
Age Distribution in Hudson County, New Jersey
Citizen Population in Hudson County, New Jersey (2022)
Political Trends & Data
Hudson County, New Jersey's real estate market trends are likely influenced by its strong Democratic lean, as seen in the 2020 U.S. Presidential Election where Democrats potentially secured over 72% of the vote. This political inclination may appeal to buyers and investors with progressive values, potentially driving demand and property values in areas that align with similar political... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Hudson County, New Jersey saw a significant lean towards the Democratic Party in the 2020 U.S. Presidential Election, with Democrats possibly commanding over 72% of the vote. Republicans appeared to garner just over 26%, suggesting a strong Democratic preference in this area. Minor parties like the Libertarians and Greens seemed to have a minimal influence, each securing less than 1% of the votes, indicating that third-party impact was likely negligible.
26.29% of voters voted for the Republican party in the 2020 Presidential Election
72.62% of voters voted for the Democrat party in the 2020 Presidential Election
0.50% of voters voted for the Livertarian party in the 2020 Presidential Election
0.31% of voters voted for the Green party in the 2020 Presidential Election
0.27% of voters voted for the Other party in the 2020 Presidential Election
School Data
Hudson County, New Jersey has seen its student-to-teacher ratio fluctuate over the past decade, currently peaking at 17 students per teacher in 2023, compared to the national average of 14. This uptick might be a factor for potential movers, influencing decisions based on perceived education quality and personalized attention in schools. Real estate agents, investors, and appraisers might find this data crucial as it affects property values, while insurance agents could view it as an indicator... Read more
Student-to-teacher ratio in Hudson County, New Jersey over the last 10 years
Hudson County, New Jersey has shown some fluctuation in its student-to-teacher ratio over the past decade, with values ranging from a low of around 13 students per teacher to a peak of 17 in 2023. Despite some years where the ratio was close to or below the national average of 14 students per teacher, recent data indicates a significant increase. This trend could influence decisions for those considering moving to the area, as a higher student-to-teacher ratio might affect the overall quality of education and personalized attention students receive. Real estate agents, appraisers, and investors might also find this data pivotal, as quality of education is a major factor in property values, while insurance agents could see this as a marker for community investment and resource allocation.
