These NJ Towns Are Among The Most Expensive In US, New Report Says

NEW JERSEY — If you are looking to move to or within New Jersey but don't want to drop a small fortune, there are eight towns you should be sure to avoid, according to a new list that ranks the local ZIP codes that have the most expensive home prices in the United States.

The list was created using Zillow data from February, which showed that the typical home value in New Jersey is $503,432 — significantly higher than the nationwide value of $347,716, NJ.com reported.

The three New Jersey ZIP codes with the highest typical home value as of February are Deal in Monmouth County at $3,443,833, Alpine in Bergen County at $2,821,657, and Avalon in Cape May County at $2,470,147, ranking #27, #51, and #70 out of 150, respectively, according to the list.

The other towns making the list are Stone Harbor, Short Hills, Allenhurst, Sea Girt, and Mantoloking.

The top three towns with the highest typical home value countrywide are Atherton in San Mateo County, California, Miami Beach in Miami-Dade County, and Beverly Hills in Los Angeles County, with values at $7,482,537, $5,817,811, and $5,379,834, respectively.

Read the full list at NJ.com.

If you've noticed a change in the New Jersey housing market recently, there's a reason. According to a recent report from Redfin, a digital real estate company, the market is returning to pre-pandemic normals; From 2023 to 2024 home prices increased 16.4 percent in the Newark area, and 12.9 percent in the New Brunswick area.

At the same time, New Jersey is among three states facing a particularly elevated risk of housing market decline, according to a recent report by data curator ATTOM based on several measures from the fourth quarter of 2023.

The report shows that New Jersey, along with California and Illinois, had some of the highest concentrations of at-risk markets nationwide, with the three states accounting for 34 of the 50 counties considered most vulnerable to potential market drop-offs.

New Jersey counties listed among the most at-risk included: Essex, Ocean, Passaic, Sussex, Union, Camden and Gloucester.

READ MORE:

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