Real Estate Directory - New Jersey

Population: 8,638,396 (all 2003 figures)
Capital city/population: Trenton 85,314
Largest cities/population:

  • Newark - 277,911
  • Jersey City - 239,097
  • Paterson - 150,782
  • Elizabeth - 123,215

New Jersey is the 47th largest state, with a total area of 8,722 square miles. It has a humid climate with cold winters and warm summers. Average annual temperature ranges from 49ºF to 55ºF, depending upon location. Ocean breezes keep coastal regions warmer than the higher, inland sections. Average annual precipitation varies from 40” – 51”. New Jersey achieved statehood on December 18, 1787. It has the highest population density in the nation, with an average of 1,030 people per square mile, 13 times the national average. It also has the highest percent of urban population in the nation, with almost 90% of the people living in urban areas. New Jersey also holds the record for having the densest system of highways and railroads in the nation.

HOUSING

Newark – Average home price is $139,000, with almost 22% of homes being owner-occupied. Rental units comprise 70% of the city’s 8,779 total housing units. Newark is home to libraries, museums, and sports arenas, while having a great assortment of restaurants.

Jersey City – The real estate market has realized price increases over the past five years. List prices are still above those reached in 2004. New home sales increased 13% at the end of 2005. This city is a good seller’s market, with new construction also on the rise. The condominium market is also strong, with new building taking place around the city.

Paterson – The amount of recent residential listings has decreased compared to the amount of sales. Average selling price rose $20,000 from October to November of 2005. This community is close to major highways and shopping; its historical image is ready for renovation.

Elizabeth – The city has over 6,300 housing units, with an average home price of $161,986. Almost 28% of this total is owner-occupied; rental units comprise 66% of the total, renting for an average of $624. This town has a rich history. Its close proximity to major highways and airports makes it a regional hub for the east coast. Its port terminal supports over 150,000 jobs and is the world’s largest containership port and the largest foreign trade zone in the nation.

BUSINESS/ECONOMY

Principal industries include services, trade, and manufacturing. Principal manufactured goods include chemicals, electronic/electrical equipment, non-electrical machinery, and fabricated metals. Agricultural outputs include nursery/greenhouse products, hay, corn, soybeans, peppers, tomatoes, blueberries, peaches, and cranberries. Total state product for 2003 was $397 billion, with a per capita income for that year of $40,427.

SCHOOLS

New Jersey has implemented the Professional Standards and Learning Unit to support professional standards for teachers, school leaders, and other state and federal educators. These standards support quality initiatives, including: professional development, state action leadership committees, teacher mentor programs, and the instructional leadership program. At the public level, student-teacher ratio for 1994 was 13:8, with an average teachers’ salary for 1995 of $47,910.

State supported universities include Rutgers, and the State University – New Brunswick. Nine state colleges include Kean – Union, Trenton – Glassboro, Montclair – Upper Montclair, Jersey City, William Paterson – Wayne, Ramapo – Mahway, Stockton – Pomona, and Thomas Edison – Trenton. Princeton University – Princeton has been nationally known since colonial times, when it was founded as the College of New Jersey.

HISTORY

History of the state dates back to Dutch and Swedish communities established before the English arrived. Small colonies were located at the present sites of Hoboken, Jersey City, and Gloucester City. Land disputes began and continued until late in the 1740s.

Due to its strategic position, New Jersey was a concern in the American Revolution. Almost 90 battles were fought in the state. After the war, New Jersey was the third state to ratify the new Constitution. The textile and agricultural industries grew as roads improved, canals chartered, and railroads completed.

In 1947, a new constitution was accepted to replace the previous one of 1844. This reform also streamlined the government, and court and labor systems. As urban centers grew, plans for urban renewal and economic development projects became necessary. Many manufacturing jobs were lost during the next years, but replaced by service and trade jobs. The state was hurt by recession in the early 1990s, but recovery was realized by the end of the decade.

RELIGION (2003)

  • Christian – 77%
    • Roman Catholic – 39%
    • Protestant – 36%
      • Baptist – 9%
      • Methodist – 6%
      • Presbyterian – 4%
      • Other Protestant or general Protestant – 17%
    • Other Christian – 2%
  • Jewish – 5%
  • Muslim – 1%
  • Other Religions (e.g. Hindu, Sikh) – 1%
  • Non-Religious – 16%

DEMOGRAPHICS (2003)

  • White Non-Hispanic - 66.0%
  • Black - 13.6%
  • Hispanic - 13.3%
  • Asian - 5.7%
  • Native American (U.S. Census) - 0.2%
  • Mixed race - 2.5%