Real Estate Relocation Guide To New Jersey

Relocating from Chicago to New Jersey is a major move. You’re crossing state lines and heading 780 miles to find a new home in a different community. By familiarizing yourself with the local real estate market, whether your destination is Newark or Jersey City you can get a good idea of the New Jersey landscape and locate the best area for you and your family.

We’ll start with the big picture… New Jersey has an estimated population of 8.7 million* and around 7,400 square miles of land. The total number of housing units is 3,472,782, of which about 2.1 million are owner-occupied and 1 million are inhabited by renters. Roughly 337,000, or 9.7 percent, of the residences in the state are vacant. The median home value in New Jersey is $366,600 and the median household income is $64,470. For an idea of how this sizes up with national averages – the median home value in the U.S. is $185,200 and the median household income is $48,451.

Statewide figures provide a good overview of New Jersey, but when you’re planning to relocate to the region, knowing what types of housing are available is the most important thing. So here’s a breakdown of what New Jersey real estate has to offer…

About 42,000 homes in New Jersey are new construction, developed in 2005 or after (another 199,000 were put up between 2000 and 2004). New Jersey has its share of vintage charm as well with 675,300 residences built prior to 1940. The total number of detached, single-family houses across the state is 1.8 million, and there’s also a good selection of multi-unit residences and condos. Most homes have 3 bedrooms, but size varies greatly depending on where you look. And, in case you’re wondering about how your budget will pan out in The Garden State, monthly mortgage costs in [Alabama] generally hover between $1,000 and 2,000+.

Relocation Resources

Barbara Fasy_Ocean_City_Real_Estate
Ocean City, NJ Real Estate - Cape May County Real Estate

Fasy Real Estate
We manage and specialize in the selling and renting of one bedroom condominiums in Ocean City, NJ. Trust your buying, selling, and renting to our experienced and friendly staff. Your second home is our first priority."Quietly successful for over 89 years!"

Kara Homes
If you are looking to buy or invest in real estate in New Jersey, our communities of beautiful single-family homes and spacious townhomes, offer you value that can't be beat. You not only get an elegant, stylish, luxurious new home; you also get to live in superbly designed communities featuring excellent school districts close by and within easy commuting distance from the major metropolitan areas.

Holmdel Real Estate, Colts Neck Real Estate, Monmouth County Homes for sale -Louis Critelli
Real Estate and Homes for sale in Holmdel, Colts Neck, Manalapan, Marlborb, Spring Lake, and Monmouth County. Check out buyers and sellers tips or apply online.

Home Sale in New Jersey
New Homes for sale throughout New Jersey. Single Family homes, Town Homes

*All statistics are from the 2006 American Community Survey as shown on the U.S. Census Bureau website.
Sources: factfinder.census.gov and www.city-data.com