Sussex County Real Estate and Livability Trends
Sussex County, New Jersey, has seen a surge in median home values, increasing from $271,500 in 2021 to $322,300 in 2022, suggesting heightened desirability and investment potential. Average taxable incomes rose to $97,490.86 in 2021, potentially driving real estate values up. Persistent lower student-to-teacher ratios may signal robust school systems, appealing to families and contributing to... Read more
Sussex County Market Trends
Sussex County, New Jersey has recently seen a notable surge in median home values, jumping from $271,500 in 2021 to $322,300 in 2022, outpacing the national median growth. This spike suggests increased desirability and investment potential. Additionally, the area has experienced considerable fluctuations in residential energy tax credits, with peaks in 2017 and 2018 hinting at significant... Read more
Median Value of Occupied Housing Units in Sussex County, New Jersey Over the Last 8 Years
Over the past eight years, Sussex County, New Jersey, has seen its median home value oscillate mildly between $264,100 and $271,500 up until 2021, but it experienced a sharper increase in 2022, jumping to $322,300. This recent surge outpaces the national median value, which grew more steadily from $125,500 in 2015 to $179,400 in 2022. While New Jersey as a whole has consistently held higher median values than Sussex County, with a 2022 state median at $401,400, the recent uptick in Sussex indicates a growing appeal and potential for higher returns for property investors or homebuyers considering the area.
Residential Energy Tax Credit Per Tax Return in Sussex County, NJ Over the Last 9 Years
Sussex County, New Jersey has seen significant fluctuations in the amount of residential energy tax credit per tax return over the past nine years. 2017 and 2018 marked peak years, with average credits spiking dramatically to $945.83 and $3840.00, respectively, deviating sharply from prior and subsequent years. This volatility may indicate periods of substantial investment in energy-efficient upgrades or possible initiatives that incentivized such actions. Real estate agents, appraisers, and property developers could potentially find opportunity in gauging these trends, particularly if similar incentives recur, impacting property values or homeowner behavior.
Average Real Estate Taxes Per Tax Return in Sussex County, NJ Over the Last 10 Years
Over the last decade, Sussex County, New Jersey has experienced a steadily increasing trend in average real estate taxes per tax return. Starting from $7,998.71 in 2012, the tax per return saw gradual increments, peaking at $9,979.55 in 2020. Notably, 2021 marked a slight decline to $9,892.86. This uptrend, punctuated by occasional dips, might be indicative of broader economic movements and changing local fiscal policies, making it a crucial factor for potential investors and current homeowners to consider. This trend is essential for professionals in real estate, insurance, and property development, as it could affect valuations, insurance premiums, and overall investment returns.
Percentage of Farm Returns in Sussex County, NJ Over the Last 10 Years
Farm tax returns in Sussex County, New Jersey, have been gradually decreasing over the last decade, sliding from 1.50% in 2012 to 1.24% in 2021. This trend might suggest a shift in the local agricultural economy, possibly pointing towards a decline in small-scale farming or a change in land use patterns. For those looking to invest, build property, or move to the area, this could indicate potential changes in the rural character of the county, impacting land values and development opportunities. Understanding these nuances can be key for making informed decisions about agricultural investments and property development in Sussex County.
Number of Mortgages by Occupancy Type in Sussex County, NJ Over the Last 5 Years in Sussex County
Over the past 5 years in Sussex County, New Jersey, mortgage counts for principal residences have consistently dominated, with noticeable peaks in 2020 and 2021. Meanwhile, investment property and second residence mortgages have remained relatively stable in comparison. Shifts in the number of mortgages for these occupancy types can significantly impact local demand patterns, property values, and risk assessments. Understanding these trends helps investors and developers gauge market health and identify optimal investment opportunities. Real estate agents can tailor their services, while insurance agents benefit from better risk prediction. Residents may find it interesting to see how their regional housing market is evolving.
Economic Outlook
Sussex County, New Jersey has seen a general increase in average taxable income per tax return over the past nine years, reaching $97,490.86 in 2021. This trend hints at a more affluent resident base, potentially leading to higher real estate values. Since 2012, average state and local income taxes per tax return have risen from approximately $6,252.15 to around $10,843.98, possibly indicating a higher cost of living. The average total tax liability per tax return also saw a significant rise,... Read more
Average Taxable Income per Tax Return in Sussex County, NJ over the last 9 years
Over the last nine years, Sussex County, New Jersey has generally seen a steady increase in average taxable income per tax return, reaching $97,490.86 in 2021 from $75,286.68 in 2013. This upward trend, despite minor fluctuations, reflects a noticeable economic improvement in the county. For potential investors, property developers, and real estate agents, these figures may suggest a more affluent resident base and possibly higher real estate values. Those in insurance and appraisal might infer that property valuations could be on the rise, correlating with the increased income levels in the region.
Average State and Local Income Taxes Per Tax Return in Sussex County, NJ Over the Last 10 Years
Over the past decade, Sussex County, New Jersey has seen a consistent increase in average state and local income taxes per tax return. In 2012, the average was approximately $6,252.15, gradually rising every year to reach around $10,843.98 by 2021. The jump between 2017 and 2018 is particularly notable, as the figure surged from around $7,331.94 to $9,811.12. This trend could signal a rising cost of living or increased state and local tax rates, relevant for those evaluating the financial landscape of the county for investment or relocation purposes.
Average Total Tax Liability Per Tax Return in Sussex County, NJ Over the Last 10 Years
Over the last decade, Sussex County, New Jersey has seen a steady increase in the average total tax liability per tax return. Starting from around $12,328.89 in 2012, there was a significant rise to approximately $16,386.28 by 2021. This trend indicates a roughly 33% increase over ten years, reflecting broader economic factors that might interest potential investors and real estate agents. For those looking to purchase property or move into the area, this upward trend in tax liabilities might suggest rising fiscal responsibilities, while appraisers and insurance agents might find value in understanding these shifts when assessing property values and coverage needs.
Cost of Living in Sussex County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $2,048 | $1,605 | $1,790 | $2,437 | $2,120 |
| 1 adult 4 children | $2,048 | $1,310 | $1,359 | $2,437 | $2,220 |
| 2 adults 3 children | $2,048 | $1,311 | $1,558 | $2,437 | $1,855 |
| 1 adult 3 children | $2,048 | $1,070 | $1,127 | $2,437 | $1,990 |
| 2 adults 2 children | $1,614 | $1,073 | $1,326 | $2,123 | $1,443 |
| 1 adult 2 children | $1,614 | $802 | $895 | $2,123 | $1,485 |
| 2 adults 1 child | $1,614 | $848 | $1,094 | $1,103 | $1,086 |
| 1 adult 1 child | $1,614 | $548 | $663 | $1,103 | $1,027 |
| 2 adults | $1,345 | $681 | $862 | $0 | $801 |
| 1 adult | $1,135 | $372 | $431 | $0 | $663 |
Safety trends & Data
Property crime trends in Sussex County, New Jersey, show a notable rise in larceny-theft, with incidents peaking at 89.0 in 2022, up from 53.0 in 2020. Burglary cases have mostly declined from 22.0 in 2018 to 5.0 in 2021, though there was a slight uptick to 8.0 in 2022. Vandalism and motor vehicle theft statistics lack a consistent pattern, fluctuating unpredictably year to year. These crime trends could influence property values and community safety perceptions, making it critical for... Read more
Property Crime Trends in Sussex County, NJ Over the Last 5 Years
Property crime trends in Sussex County, New Jersey, over the last five years indicate a fluctuation in incidents with a notable peak in larceny-theft cases, reaching 89.0 incidents in 2022 from a low of 53.0 in 2020. Burglary incidents have generally trended downward from 22.0 in 2018 to just 5.0 in 2021, though a slight increase to 8.0 was seen in 2022. Vandalism and motor vehicle thefts showed no consistent upward or downward trends but varied significantly year to year. Investors and real estate professionals should analyze these variations to understand potential risks and opportunities in property value and community safety.
Demographics
Sussex County, New Jersey shows a balanced gender ratio in its adult population with males and females almost equal in number. The majority of residents are high school graduates, with a significant portion having some college education or higher degrees, indicating a relatively educated populace. Age distribution skews towards older demographics, with notable populations in the 45 to 64 years range, suggesting a mature community. Racially, the county is predominantly White, with smaller... Read more
Race Distribution in Sussex County, New Jersey (2022)
Educational Attainment in Sussex County, New Jersey (2022)
Age Distribution in Sussex County, New Jersey
Citizen Population in Sussex County, New Jersey (2022)
Political Trends & Data
In Sussex County, New Jersey, the 2020 U.S. Presidential Election results implied a Republican lean with roughly 59% of the vote. Democrats secured about 39%, indicating notable but not predominant support. Minor parties like the Libertarian and Green parties had minimal impact, suggesting limited influence. This voting distribution could echo larger political tendencies in rural or historically conservative parts of the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Sussex County, New Jersey, voting patterns from the 2020 U.S. Presidential Election seemed to suggest a lean towards the Republican party, which garnered approximately 59% of the vote. Democrats appeared to have captured around 39%, indicating significant but not dominant support. Minor parties, including the Libertarian and Green parties, collectively achieved marginal percentages, hinting at limited influence in this region. This distribution might reflect broader political attitudes in rural or traditionally conservative areas within New Jersey.
58.77% of voters voted for the Republican party in the 2020 Presidential Election
39.20% of voters voted for the Democrat party in the 2020 Presidential Election
1.24% of voters voted for the Livertarian party in the 2020 Presidential Election
0.40% of voters voted for the Green party in the 2020 Presidential Election
0.38% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Sussex County, New Jersey, the student-to-teacher ratio has consistently stayed between 10 and 11 over the past decade, compared to the national average of 14. This pattern hints at smaller class sizes and potentially stronger school systems, which might appeal to families seeking personalized education for their children. For real estate agents and appraisers, this could signal higher property values. Investors and builders might see a steady or increased demand for family housing, while... Read more
Student-to-teacher ratio in Sussex County, New Jersey over the last 10 years
Over the past decade, the student-to-teacher ratio in Sussex County, New Jersey has fluctuated between 10 and 11, consistently remaining below the national average of 14 students per teacher. This trend suggests smaller class sizes which could appeal to families prioritizing personalized attention in education. For real estate agents and appraisers, these ratios might indicate stronger school systems, potentially enhancing property values. Investors and builders could see sustained or increased demand for family housing in the area. Insurance agents may also find this data useful in assessing risk for underwriting in family-centric communities.
