New Jersey real estate has various different locales throughout the state of New Jersey. There are more urban areas like that of Newark, suburban areas like Lakewood, which are close proximity to the shores; there are even large farming lands within the south of New Jersey. Each boasts their own housing markets, and region specific housing complexes, whether it be townhouses, apartments, single-family homes, or farm-houses.
New Jersey Real Estate
New Jersey real estate has taken a harsh hit because of the overall economic downturn of the United States. The densely populated state still boasts a significant number of people per square mile, but the number of houses for sale or that have been foreclosed on are extremely high in numbers. In regions where housing used to be in the upper hundred thousands, some areas have dropped to $200,000 – $300,000 and some still lower.
NJ Property Tax
NJ Property tax is another matter when it comes to looking at the State of New Jersey from a Real Estate perspective. NJ property taxes levied, vary depending on each specific town and county. In some areas, the overall amount brought in per year is all in the millions, regarding property taxes collected overall. In other locations, they are only in the hundred thousand range. NJ property tax is reevaluated ever few years because of housing developments, and overall population changes.
Lakewood Real Estate
Location wise, Lakewood can be found on the Southeastern side of New Jersey. It is one of many townships in the southern area, and has a lower range of real estate prices. This suburban area is just one of the many areas that have been affected by the economy’s downturn. Houses are starting anywhere from $115,000 and going up the scale to the moderate price of just over $300,000.
Newark Real Estate
Because of Newark New Jersey’s close proximity to New York City, it is one of the more popular residential areas for people community from New Jersey into NYC. Real Estate in Newark is primarily compact apartments and townhouse style dwellings. The range of housing prices has been anywhere from under $100,000 to $300,000 on average.