New Jersey, a state located in the northeastern corner of the United States, is bordered by New York City and the Hudson River on the north, Pennsylvania and Delaware across the Delaware River on the west, and the Atlantic Ocean on the south and east. The state is nicknamed the Garden State for its large production of food and its lush forests, but it is also known for its densely populated areas, high quality of life, and vibrant cultural communities.
The state was first inhabited by Paleo-Indians, and in the 16th century Dutch and Swedish colonists established their settlements. The area was then ruled by the English, who changed its name from the Province of New Netherland to New Jersey after the island of Jersey in the English Channel. The state’s fertile lands and religious tolerance attracted many diverse people to the region, which remains one of America’s most ethnically rich states today.
During the Revolutionary War, New Jersey played an important role in the American battles at Trenton and Princeton, which helped to win independence from England. In the 19th century, the state’s economic strength grew from its position as an industrial and shipping hub. The state was home to numerous railroads and the Delaware and Raritan Canal, as well as steel, coal, glass, and manufacturing companies such as John Roebling’s wire rope factory. The population of the state increased dramatically during this era as millions of immigrants streamed into the region to work in the factories and railroads.
In the 20th century, New Jersey became the prototype for progressive reform movements in the United States. The state government streamlined the office of governor, created a more centralized state court system, and ordered desegregation in schools and the National Guard – moves that were considered radical steps well ahead of their time. A strong union presence led to worker strikes in towns such as Paterson, Passaic, and Seabrook.
Single-family housing in New Jersey is expensive, with the median home price in 2021 exceeding $494,900 and rising year over year. The state’s real estate market is highly competitive, and buyers should be financially prepared, set realistic expectations, and rely on the expertise of experienced agents. Sellers should prepare their homes carefully and consider listing at a price that is in line with current market trends.
New Jersey’s cost of living is higher than the national average, but lower than that of California and Massachusetts. Food costs are above the national average, and transportation costs remain a significant expense. However, New Jersey residents pay below the national average for utilities and healthcare. These factors make the state an attractive location for many people, despite its relatively high prices. However, the high cost of housing can push many families to the brink of affordability, and the need for affordable options is a growing concern. For renters, finding an apartment that fits their budget requires patience and diligence. As more and more families move into the state, supply is not keeping up with demand. This has led to a strained rental market, with some markets experiencing shortages and high levels of turnover.