Property Investment in New Jersey
Over the past few years, families have become increasingly conscious about their home environments – we even did a study on it about a year ago.
Without doubt, with homeowners making improvements and looking for the next rung on the ladder, there’s an opportunity here for property investors to capitalize and profit.
As experts within the house maintenance industry within New Jersey, we have crunched some numbers to find the best cities and towns for property investment within the state. The tool below shows how the places stack up against each other for things like house size, house price, rental price, local realtors and Property Value per Square Foot
The data shows that investors looking to profit in New Jersey should focus on Jersey City where the rental price is high, the space to money ratio is the best in the state and the numbers of realtors operating is the third highest in the state - perfect for finding the next renter.
In second place is Edison where the only data point keeping it outside 1st place is the average rental price. Edison boasts larger house size than Jersey City but with lower rental costs it doesn’t look as attractive an investment proposition as Jersey City. Lakewood and Camden rank as the two worst places for property investors with rental costs in each ranking in the bottom four (Camden is lowest of all).
Camden also ranks at rock bottom for Property Value per Square Foot which means that house buyers are paying more for less. Trenton ranks in second worst place for this particular category and state capital Newark makes up the bottom three.
At the opposite end of the Property Value per Square Foot scale is Jersey City where investors would be paying less for more.
If you’re looking to invest in property in 2023, or beyond, make sure you do your due diligence into background research of the area, resale values, and be sure to monitor any market trends before making decisions. We are here to support you with the pest control aspect when purchasing in New Jersey.
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