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RussianBergen county news with an emphasis on aspects affecting real estate, residency and community issues.
Bergen County is favored by immigrants and women
Highlands Act in a court case
River Edge offers good luxury housing
Affordable housing in Bergen County is still a distant dream
Population declines in New Jersey
Bergen County is favored by immigrants and women
In an interesting research, it was revealed that the maximum number of people buying homes in Bergen County and New Jersey were either immigrants or women. Many legal immigrants come to North Jersey for better prospects and make up a large chunk of the population in the region. In Bergen County alone, out of a population of 884,000, foreign-born residents account to be at 222,000. Among these, 88,000 came from Asia, 68,000 from Europe and 59,000 from Latin America.
However current statistics also reveal that many such immigrants are moving out of the region due to the increasing costs of living. For example, in Bergen County itself, 34000 people approximately migrated to other states within a five-year span from 2000 to 2005. Many of these immigrants seek duplex homes or multifamily homes, reported the survey conducted by the Otteau valuation Group.
Besides these immigrants, single women form another major chunk of homebuyers. As per the Center for Women’s business research, women owned businesses grew by 63% (between 1997-2006) and home purchases by women stand at 22% in New Jersey. Condominiums are a top favorite among women buyers and approximately 40% of these purchases are made by women. Home purchases by single men however stand at 9% only.
In new developments, a lawsuit was filed against the Highlands preservation Act, stating that it prevents affordable housing from being constructed. Kaplan Co, a major developer for housing, filed the complaint at Warren County Superior court. The case stated that the developer was being prevented from constructing 132 age restricted homes in the 47 acre region of Old Allamuchy road in Independence township. These constructions were also to include 14 affordable units.
This complaint has been placed under ‘builders remedy’ that allows developers to do constructions that allow for affordable housing. Currently a hundred such builder remedy cases are seen to be registered against municipalities in the region. However this is the first time that builder like Kaplan has decided to file the case against the State Government. The Highlands preservation act also known as the Highlands Water Protection and Planning Act was put in place in the year 2004 in order to protect the over 800 acres that supply drinking water to various residents in Bergen County and the neighborhood.
River Edge offers good luxury housing
River Edge in Bergen County is a wonderful place to live in, say many residents of the region. This area has good schools, parks, facilities and great housing too. Moreover the region is well connected with two railway stations and frequent buses to New York. The over 2500 houses that dot the region were all constructed during the post war years and still retain their original charm and construction details.
For those skeptical about purchasing homes in Bergen County region due to an unsettled market, rental options are also available at River Edge. Statistics indicate that the region has approximately 3000 occupied and purchased homes, and approximately 1000 homes are also offered for rent. The northern part of town has excellent modern constructions including condominiums. A recent development includes the construction of nine luxury townhouses that are coming up as part of “The view at River Edge” project. The southern side has excellent complexes too, and is further poised for development to include more housing units, both for purchase and rent. Roads will be widened in the southern part of town and retail buildings will come up at the Huffman-koos furniture site.
Affordable housing in Bergen County is still a distant dream
If you are looking for low cost housing, then New Jersey may not be the best option for you. Statistics reveal that the cost of housing in the region is extremely high, noted to be at 52% above the national average. The cheapest private homes in New Jersey are noted to be over $300,000 while rental homes are not available to suit everyone’s needs.
However plans to provide more affordable housing through the support of non profit organizations is underway. Affordable housing has been defined as units for persons earning 80% or less of the region’s median income can afford to rent or buy. In Bergen County, forty-one towns have filed their plans with Council On Affordable Housing (COAH) in this regard. The COAH also added that Bergen County municipalities themselves are obliged to provide for approximately 5000 affordable housing units. As the prospects for affordable housing seem to improve in plan, much still needs to be done in action. Also, not many officials agree to the housing patterns offered by these plans. Some like Richardson stated that, her ward doesn’t need, “more projects for poor people bunched together”. With the rising costs of land and demand for single-family homes, affordable housing needs a much-needed push to be implemented.
Population declines in New Jersey
Facts and figures showcased that population data showed a decline in Bergen County and many other towns in the neighborhood. However despite all declines, Bergen County continues to rank as the most populated amongst the 21 counties of New Jersey. Essex, Middlesex and Monmouth rank second, third and fourth respectively.
The data collected for the year 2005-2006, showed that population across the state has declined slightly mainly due to increase in taxes, less developments and an ageing population. The sizes of households are also seen to go down as children grow up and leave home. Many also feel that an increase in property taxes is a growing factor in making people consider other neighborhoods. However a few experts downplayed this factor, by adding that along with rises in property taxes, per capita incomes have also risen. A few regions are now taking up redevelopment projects to attract new residents.
Buy a Home in Bergen County
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