Best Places To Buy A House In New Jersey For 2020


Using science and data, we can tell you which places in New Jersey have seen home prices rising and people flocking over the past year.

Editor’s note: This is not investment advice and we are not financial advisers. Article updated for 2020.

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There's a the age old question everyone thinks about when they decide to move to a city in New Jersey:

Should I buy a place or rent? Well, we aren't here today to solve that problem for you exactly. We are just assuming you'll do the right thing and a buy a place. And while we are happy to tell you the best place to live in New Jersey, this analysis is going to tackle the question of the best place to buy a house as an investor. That is we are going to try and determine the up and coming cities in the Garden State.

To do that we are going to look at places in New Jersey that are growing faster than average, but where home prices are below average. In every day terms, the "deals". The best deal in New Jersey at the moment? That would be Wildwood according to our analysis.

Here's a look at the top ten places to buy a home in new jersey for 2020:

  1. Wildwood (Photos | Homes For Sale)
  2. Englewood Cliffs (Photos | Homes For Sale)
  3. Somerdale (Photos | Homes For Sale)
  4. Hight (Homes For Sale)
  5. Mount Arlington (Photos | Homes For Sale)
  6. Union Beach (Homes For Sale)
  7. Morris Plains (Homes For Sale)
  8. Belmar (Photos | Homes For Sale)
  9. Oceanport (Photos | Homes For Sale)
  10. Manasquan (Photos | Homes For Sale)

What's the best place to buy a home in New Jersey for 2020? According to our analysis, would the the ideal place to buy a home looking into the future.

The methodology that wen't into this can be a bit complicated, so we'll break it down for you in as much detail as we can below. If you're not worried about finding a deal on good places to live, check out the most expensive places to live in new jersey and, for those of you on a budget, the cheapest places to live in new jersey.

For more New Jersey reading, check out:

The 10 Best Cities To Buy A House In New Jersey For 2020

Wildwood, NJ

Source: Public domain
Overall SnackAbility

6
/10

Population: 5,073
Median Home Price: $224,700
Population Change: -1.2%
Home Price Change: 1.4%
More on Wildwood: PhotosHomes For Sale | Data

Wildwood was originally incorporated as a borough by an act of the New Jersey Legislature on May 1, 1895, from portions of Middle Township, based on the results of a referendum held the previous day. On January 1, 1912, Wildwood was incorporated as a city, replacing both Wildwood borough and Holly Beach City.

Englewood Cliffs, NJ

Source: Public domain
Overall SnackAbility

10
/10

Population: 5,356
Median Home Price: $1,041,200
Population Change: -1.5%
Home Price Change: 4.6%
More on Englewood Cliffs: PhotosHomes For Sale | Data

Somerdale, NJ

Overall SnackAbility

8
/10

Population: 5,407
Median Home Price: $168,800
Population Change: -0.2%
Home Price Change: 2.0%
More on Somerdale: PhotosHomes For Sale | Data

Source: Public Domain
Overall SnackAbility

7.5
/10

Population: 5,413
Median Home Price: $278,000
Population Change: -2.1%
Home Price Change: 1.4%
More on Hight: Homes For Sale | Data

Mount Arlington, NJ

Overall SnackAbility

9.5
/10

Population: 5,507
Median Home Price: $332,900
Population Change: 1.9%
Home Price Change: 12.2%
More on Mount Arlington: PhotosHomes For Sale | Data

While Mount Arlington is now mostly a suburban residential community, it was once a thriving resort community. In the era before the world wars and the advent of air travel, it was a welcome respite for the residents of nearby New York City and Newark.

Overall SnackAbility

9
/10

Population: 5,549
Median Home Price: $263,100
Population Change: -1.5%
Home Price Change: 1.3%
More on Union Beach: Homes For Sale | Data

Overall SnackAbility

9.5
/10

Population: 5,625
Median Home Price: $505,700
Population Change: 0.4%
Home Price Change: 2.8%
More on Morris Plains: Homes For Sale | Data

Belmar, NJ

Overall SnackAbility

8.5
/10

Population: 5,647
Median Home Price: $600,800
Population Change: -1.3%
Home Price Change: 7.3%
More on Belmar: PhotosHomes For Sale | Data

Oceanport, NJ

Overall SnackAbility

9.5
/10

Population: 5,724
Median Home Price: $453,200
Population Change: -0.7%
Home Price Change: 2.6%
More on Oceanport: PhotosHomes For Sale | Data

Manasquan, NJ

Overall SnackAbility

9.5
/10

Population: 5,800
Median Home Price: $654,200
Population Change: -0.4%
Home Price Change: 0.7%
More on Manasquan: PhotosHomes For Sale | Data

How do you determine the best places to buy a home in new jersey for 2020?

We were in real estate for almost five years and have been working on this site for another three. Suffice is to say, we've put a lot of thought into what goes into finding a good place to buy a home.

So all that thinking has come to this moment where we get to spell out how we'd approach finding an up-and-coming place to live in New Jersey. Put differently, the analysis will try to find places in New Jersey with undervalued homes relative to pent up demand.

To do that we looked at the most recent American Community Survey Census data for 2014-2018 and compared it to the previous vintage (2012-2016). Specifically, we used the following criteria:

  • Y-o-Y Change In Population (People want to live here)
  • Y-o-Y Change In Median Home Prices (People are willing to pay for it)
  • Home Prices Relative To The State Average (It's still kinda cheap)

We want places that are growing, have seen home prices increase in recent years, and are still "cheap" for New Jersey with the following caveats:

So of the 0 cities and towns in New Jersey, only 187 places made it through our initial filters to even be considered.

We then ranked each place from 1 to 187 for the criteria mentioned above with 1 being the best for that criteria. We averaged the rankings to create a "best place to buy" index with the place having the lowest index being the best. You can download the data here.

Turns out that Wildwood is the best potential gem in the not-so-rough in the Garden State.

Read on for more on these places.

There You Have It - The Best Places To Purchase A House In new jersey for 2020

There's our analysis of the best places to buy a house in New Jersey. And, to be clear, we aren't necessarily saying these places are the best places to live, just that it looks like they might be in a couple of years based on the data.

In fact, every place in the following table meets our criteria, so even though it may not look super long, remember we started off with all 0 places in the state.

So if we'd could rent or buy in these cities, we'd definitely buy.

For more new jersey reading, check out:

Detailed List Of The Best Places To Buy A Home In New Jersey

City Rank Median Home Price Population Change Home Price Increase
Wildwood 1 $224,700 -1.2% 1.4%
Englewood Cliffs 2 $1,041,200 -1.5% 4.6%
Somerdale 3 $168,800 -0.2% 2.0%
Hight 4 $278,000 -2.1% 1.4%
Mount Arlington 5 $332,900 1.9% 12.2%
Union Beach 6 $263,100 -1.5% 1.3%
Morris Plains 7 $505,700 0.4% 2.8%
Belmar 8 $600,800 -1.3% 7.3%
Oceanport 9 $453,200 -0.7% 2.6%
Manasquan 10 $654,200 -0.4% 0.7%
Woodcliff Lake 11 $790,400 -0.9% 2.7%
Norwood 12 $631,000 -0.8% -1.3%
Roseland 13 $500,800 -1.0% 1.6%
Prospect Park 14 $263,000 -1.6% 1.2%
Little Silver 15 $595,100 -0.9% -1.7%
Old Tappan 16 $749,400 -1.3% -1.4%
Paulsboro 17 $112,700 -0.6% -0.8%
Fair Haven 18 $708,100 -1.2% 3.2%
Jamesburg 19 $267,900 -1.5% 0.1%
Watchung 20 $719,400 1.2% 0.3%
Margate City 21 $485,700 -2.0% 0.7%
Carlstadt 22 $375,000 -1.2% -1.5%
Rockaway 23 $341,800 -1.1% 0.9%
Washington 24 $210,600 -0.6% 0.7%
Wharton 25 $294,400 -1.1% 0.2%
North Caldwell 26 $722,400 -0.2% -1.2%
Barrington 27 $202,900 -1.0% -0.3%
Allendale 28 $710,600 -0.9% 4.2%
Rumson 29 $1,123,900 -1.0% 7.2%
Mountainside 30 $634,800 -1.3% 2.5%
Linwood 31 $284,100 -1.9% -0.4%
Stratford 32 $182,900 -0.7% 0.7%
Mil 33 $342,100 -1.1% 1.8%
Keyport 34 $258,600 -1.0% 0.8%
Palmyra 35 $170,800 -1.0% -1.4%
Midland Park 36 $498,500 -1.0% 2.0%
Dunellen 37 $280,200 -1.5% 0.1%
Haddon Heights 38 $287,600 -0.5% 2.9%
Berlin 39 $237,700 -0.9% 2.3%
Glen Ridge 40 $644,900 -1.2% 3.4%
Fanwood 41 $450,200 -0.6% 3.9%
Emerson 42 $486,100 -0.7% 4.4%
Bernardsville 43 $743,600 -1.2% 5.6%
Butler 44 $348,100 -1.0% 1.0%
Raritan 45 $335,200 0.5% 1.2%
Newton 46 $210,300 -0.5% 1.9%
West Long Branch 47 $419,700 -0.3% 1.8%
Caldwell 48 $456,000 -0.8% 5.8%
Bloomingdale 49 $297,000 -0.4% -0.6%
Oradell 50 $599,700 -1.1% 3.4%
Kenilworth 51 $346,000 -0.9% -0.4%
Upper Saddle River 52 $884,500 -1.2% -3.9%
Absecon 53 $198,300 -1.0% 1.1%
Spotswood 54 $292,400 -1.8% -0.6%
Boonton 55 $377,900 -1.0% 2.8%
Runnemede 56 $165,000 -0.8% -1.6%
Haledon 57 $268,800 -1.2% 1.8%
Northfield 58 $223,800 -1.6% -0.2%
Bogota 59 $326,900 -0.9% 3.4%
Montvale 60 $615,800 -0.0% 1.0%
North Haledon 61 $429,200 -1.4% 1.2%
Clayton 62 $197,400 0.8% 6.2%
Closter 63 $658,000 -1.4% 5.2%
Audubon 64 $206,700 -0.9% -1.0%
South Amboy 65 $276,400 -1.3% -0.9%
Cresskill 66 $656,300 -0.9% 10.3%
Park Ridge 67 $585,600 -1.1% 7.3%
Matawan 68 $339,200 -0.8% 1.1%
Pitman 69 $181,200 -0.6% -1.5%
Chatham 70 $739,100 -1.4% 1.1%
Brigantine 71 $351,300 -2.2% 0.7%
Leonia 72 $495,900 -0.9% 3.1%
East Rutherford 73 $389,300 0.3% 2.3%
Hackett 74 $273,600 -0.7% 0.4%
Maywood 75 $380,500 -1.4% 2.0%
Keansburg 76 $190,500 -0.8% 2.9%
Burlington 77 $157,200 -0.2% -1.4%
Woodbury 78 $161,700 -0.5% -2.2%
Waldwick 79 $440,800 -0.4% 1.6%
Kinnelon 80 $541,600 -1.1% -3.0%
Ventnor City 81 $268,600 -1.9% -7.4%
Manville 82 $253,800 -1.5% 0.8%
Bound Brook 83 $276,500 -1.7% 2.1%
Lincoln Park 84 $331,600 -1.2% -0.9%
Hillsdale 85 $552,100 -1.2% 5.6%
Pine Hill 86 $140,100 -0.7% 1.3%
Somers Point 87 $218,000 -1.7% 0.2%
Little Ferry 88 $316,600 -1.1% -2.1%
Totowa 89 $377,200 -0.0% 1.9%
Franklin Lakes 90 $955,000 -0.6% -2.1%
Pompton Lakes 91 $305,000 -1.4% 0.6%
Westwood 92 $447,100 -0.9% 1.4%
Ocean City 93 $582,100 -1.1% 2.5%
Beachwood 94 $230,600 0.2% -1.2%
Gloucester City 95 $122,300 -0.8% 4.0%
Ridgefield 96 $436,200 -1.1% -2.5%
Haddonfield 97 $508,100 -0.5% 3.2%
Bellmawr 98 $166,800 -0.6% 0.8%
Guttenberg 99 $305,500 -2.5% 11.9%
River Edge 100 $492,100 -1.0% 1.1%

How Is The Area In ?

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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