Monmouth County Real Estate and Livability Trends
Monmouth County, New Jersey's real estate market has shown notable growth, with median home values climbing from $385,100 in 2015 to $519,300 in 2022, outpacing state and national averages. Average taxable incomes have surged from $93,167.21 in 2013 to about $142,806.38 by 2021, suggesting stronger economic conditions and enhanced purchasing power. Real estate taxes have risen, affecting... Read more
Monmouth County Market Trends
Monmouth County, New Jersey's real estate market has shown robust growth, with median home values escalating from $385,100 in 2015 to $519,300 in 2022, outpacing both state and national increases. Energy tax credits have fluctuated, peaking at $4334.23 in 2018, indicating a keen interest in energy-efficient upgrades. Real estate taxes have consistently risen from $9,040.89 in 2012 to $11,954.80... Read more
Median Value of Occupied Housing Units in Monmouth County, New Jersey Over the Last 8 Years
Monmouth County, New Jersey has seen sustained growth in median home values, jumping from $385,100 in 2015 to $519,300 in 2022. This upward trend outpaces both state and national figures, where New Jersey's median home values increased from $315,900 to $401,400 over the same period, and U.S. values rose from $125,500 to $179,400. The sharp increase in Monmouth County may signal strong demand and a robust real estate market, potentially offering lucrative opportunities for investors or those looking to move to the area.
Residential Energy Tax Credit Per Tax Return in Monmouth County, NJ Over the Last 9 Years
Monmouth County, New Jersey has seen significant fluctuations in residential energy tax credits over the past nine years, peaking sharply in 2018 at $4334.23 before stabilizing to a still impressive $1158.37 in 2021. This variability suggests a growing investment in energy-efficient home improvements, likely driven by changing state incentives and rising energy costs. For homebuyers, appraisers, and real estate agents, this trend highlights the potential for increased home values tied to energy efficiency. Insurance agents might also find this relevant as energy-efficient homes are often viewed as lower risk.
Average Real Estate Taxes Per Tax Return in Monmouth County, NJ Over the Last 10 Years
Over the past decade, Monmouth County, New Jersey has seen a consistent increase in average real estate taxes per tax return, moving from $9,040.89 in 2012 to $11,954.80 in 2021. This upward trend may affect real estate investors, prospective residents, and insurance agents by potentially influencing property appraisals and insurance premiums. Real estate agents and developers might need to adjust pricing strategies and advice for clients based on these expanding tax liabilities.
Percentage of Farm Returns in Monmouth County, NJ Over the Last 10 Years
Over the last decade, Monmouth County, New Jersey has shown some fluctuation in the percentage of farm returns, averaging around 0.22%. Farm tax returns, representing agriculture-based incomes, offer insights into rural economic health and land use patterns. With noticeable peaks in 2013 and minor declines by 2020, this trend could suggest varying degrees of agricultural productivity and investment appeal over time. For prospective investors or individuals interested in property and lifestyle aligned with farming activities, these figures might hint at underlying economic shifts and could be a factor in future expectations for land value and rural development.
Number of Mortgages by Occupancy Type in Monmouth County, NJ Over the Last 5 Years in Monmouth County
Mortgage trends in Monmouth County, New Jersey show fluctuations that can signal key changes in real estate demand and market health. Principal residence mortgages hit their peak in 2020 with 55,586, reflecting perhaps a surge in home buying during the pandemic or favorable interest rates. In contrast, investment property mortgages decreased gradually from 2,928 in 2021 to 2,125 in 2022, maybe suggesting shifting investor confidence or rental market dynamics. These variations in occupancy types—principal, second, and investment residences—affect property valuations and insurance underwriting deeply, influencing decisions for investors, builders, and realtors who need to anticipate and strategize around evolving market conditions.
Economic Outlook
Monmouth County, New Jersey has seen average taxable incomes rise from $93,167.21 in 2013 to about $142,806.38 by 2021, hinting at economic growth and increased purchasing power. State and local income taxes per tax return have also risen sharply, jumping from $10,821.79 in 2012 to $25,184.33 in 2021, especially post-2017, possibly reflecting policy changes. The county's average total tax liability per tax return increased from $19,382.86 in 2012 to $31,143.19 in 2021, noting a significant rise... Read more
Average Taxable Income per Tax Return in Monmouth County, NJ over the last 9 years
Monmouth County, New Jersey has seen a notable increase in average taxable income per tax return over the past nine years. Starting at around $93,167.21 in 2013, the average income steadily rose each year, reaching approximately $142,806.38 by 2021. This upward trend could suggest economic growth and potentially greater purchasing power in the area, making it an attractive option for investors, real estate agents, and those considering relocation. Additionally, such income trends might inform appraisers and insurance agents about the evolving financial landscape in the county.
Average State and Local Income Taxes Per Tax Return in Monmouth County, NJ Over the Last 10 Years
Over the last decade, Monmouth County, New Jersey has experienced a notable rise in average state and local income taxes per tax return, escalating from approximately $10,821.79 in 2012 to around $25,184.33 in 2021. The most striking uptick occurred post-2017, hinting at policy changes or economic shifts that may have influenced higher taxation. This trend could impact potential investors and residents by signaling an increase in the financial commitment required for living or doing business in the area. Appraisers and insurance agents might also see fluctuations in valuations and premiums as a result of these tax adjustments.
Average Total Tax Liability Per Tax Return in Monmouth County, NJ Over the Last 10 Years
Monmouth County, New Jersey has seen a consistent rise in average total tax liability per tax return over the past decade, escalating from approximately $19,382.86 in 2012 to a notable $31,143.19 in 2021. This trend could indicate increasing property values, higher income levels, or changes in tax policies. Investors and real estate agents might view this upward trend as a potential sign of economic growth in the area, while appraisers and insurance agents may need to account for these higher liabilities when evaluating risk. The notable jump from 2020 to 2021 suggests significant changes possibly due to macroeconomic factors affecting local taxation.
Cost of Living in Monmouth County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,182 | $1,725 | $1,838 | $2,750 | $2,305 |
| 1 adult 4 children | $2,182 | $1,409 | $1,396 | $2,750 | $2,374 |
| 2 adults 3 children | $2,182 | $1,409 | $1,600 | $2,750 | $2,047 |
| 1 adult 3 children | $2,182 | $1,151 | $1,157 | $2,750 | $2,163 |
| 2 adults 2 children | $1,594 | $1,154 | $1,361 | $2,359 | $1,508 |
| 1 adult 2 children | $1,594 | $862 | $919 | $2,359 | $1,546 |
| 2 adults 1 child | $1,594 | $912 | $1,123 | $1,088 | $1,064 |
| 1 adult 1 child | $1,594 | $589 | $681 | $1,088 | $986 |
| 2 adults | $1,273 | $733 | $885 | $0 | $768 |
| 1 adult | $1,140 | $400 | $442 | $0 | $649 |
Safety trends & Data
Monmouth County, New Jersey, has seen fluctuating property crime trends over the last five years. Larceny-theft peaked at 1,141 incidents in 2018 but decreased to 826 by 2022. Burglary hit a high at 190 arrests in 2020, and vandalism peaked at 177 incidents in 2018. Motor vehicle theft showed a gradual increase, spiking to 39 in 2022. Frauds and forgery cases remain sporadic, presenting an underlying risk factor for investors and insurance agents. Property crime in Monmouth County shows both... Read more
Property Crime Trends in Monmouth County, NJ Over the Last 5 Years
Monmouth County, New Jersey, has seen varying trends in property crime over the last five years. Larceny-theft consistently remains the most reported crime, although its numbers have fluctuated, peaking at 1,141 in 2018 before declining to 826 in 2022. Burglary and vandalism also show notable but varying figures, with burglary arrests topping out at 190 in 2020 and vandalism arrests at 177 in 2018. Motor vehicle theft, while relatively low, has gradually increased, with a mild spike to 39 in 2022. Frauds and forgery cases show inconsistent patterns but remain noteworthy for investors and insurance agents assessing risk. Overall, property crime in the county demonstrates both volatility and sporadic increases in certain areas, highlighting areas of concern for potential residents and stakeholders.
Demographics
Monmouth County, New Jersey shows a slight female demographic majority. Educational attainment is fairly high, with graduates and those holding professional degrees making up a significant portion of the adult population. The age distribution suggests a relatively balanced spread across different age groups, though there's a notable concentration in the 35 to 64 age range. Racial demographics reveal a predominantly White population, but with considerable representation of Black or African... Read more
Race Distribution in Monmouth County, New Jersey (2022)
Educational Attainment in Monmouth County, New Jersey (2022)
Age Distribution in Monmouth County, New Jersey
Citizen Population in Monmouth County, New Jersey (2022)
Political Trends & Data
In Monmouth County, New Jersey, the 2020 Presidential Election results revealed a competitive political landscape, with Republicans gaining around 51% of the vote and Democrats nearly 48%. This narrow margin might suggest potential for shifts in voter alignment in upcoming elections, hinting at an evolving political climate. Minor parties held negligible influence, each garnering less than 1%, which could underscore the strong but competitive dominance of the two major... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Monmouth County, New Jersey, the 2020 Presidential Election saw a slight Republican edge with about 51% of the vote, compared to nearly 48% for Democrats. Minor parties like the Libertarian and Green parties seemed to have minimal impact, capturing less than 1% each. This voting pattern might indicate a competitive political landscape with potential for shifts in future elections, as the margin between the two major parties is relatively narrow.
50.72% of voters voted for the Republican party in the 2020 Presidential Election
47.94% of voters voted for the Democrat party in the 2020 Presidential Election
0.72% of voters voted for the Livertarian party in the 2020 Presidential Election
0.37% 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
Monmouth County, New Jersey has witnessed a significant drop in its student-to-teacher ratio over the past decade, shifting from almost fifteen students per teacher in 2014 to just over ten in 2023. This trend suggests more manageable class sizes and better individual attention for students, which families might find appealing when considering relocation. For real estate agents and investors, this education metric could serve as a compelling selling point, potentially making properties in the... Read more
Student-to-teacher ratio in Monmouth County, New Jersey over the last 10 years
In the last decade, Monmouth County, New Jersey has seen a notable decrease in its student-to-teacher ratio, moving from almost fifteen students per teacher in 2014 to just over ten in 2023. This downward trend may indicate schools are managing class sizes more effectively, which can be appealing to families considering relocating and beneficial for kids needing more individualized attention. For investors and real estate agents, this education metric could be leveraged as a selling point, potentially making properties in the area more attractive. With the current national average hovering around fourteen students per teacher, Monmouth County's lower ratios could also hint at higher educational support, potentially leading to better academic outcomes and possibly affecting insurance rates or property valuations positively.
