In the state of the garden, a minutes are being exceeded to buy a house in certain areas, with a lease to rent one.
As the accessibility of the house continues to decrease throughout the country, a growing number of new jersey suburbs are now dominated by tenants: reinforcing the classic view of suburban life.
A new analysis of the United States Census of Point2hhomes reveals that 39 suburbs of New Jersey with populations of more than 10,000 are now most tenants, a figure leading the nation.
Once a refuge for aspirants to owners who wanted to keep close links to New York City, the suburbs of the Inner Ring of the State are seeing a significant demographic and economic transformation as a lease of more residents instead of buying.
Places like Harrison, Union City, West New York, Passaic and Elizabeth are among the first 20 suburbs in the country with the highest actions in rental homes.
In Harrison, near Newark, more than 81% of households are occupied by tenants; In Union City, it is almost 80%. The trend is not just where people live, but how.
The change reflects both a crisis of accessibility and the changing attitudes of housing ownership, according to the National Association of Housing Builders, which said that about 75% of American households cannot afford a new average house in 2025, which now exceeded $ 460,000 with a mortgage rate of 30 years to 6.5%.
In New Jersey, the change is particularly strong.
Of the 15 national suburbs from most owners to most tenants between 2018 and 2023, four are in New Jersey, more than any other state.
Bound Brook, for example, saw that its rental population jumped from less than 50% to more than 58%.
North Arlington, East Franklin and Secapus also made the list, each with a similar transformation.
In the meantime, Elizabeth and Paterson added more than 3,500 tenants each for the last five years, with the first 10 suburbs of the country for the absolute growth of tenants’ homes.
The movement is not only based on increasing home prices; It is also a response to the decrease in urban income, especially taking into account New York near New York.
Younger generations, especially millennials and Z -gene, go to suburban rentals as a medium -sized land: near traffic, but far enough from the rents that water their eyes on the other side of Hudson.
The developers have responded in kind.
In places like Union Township and Elizabeth, half -height apartment buildings have been collected near the train stations, taking care of travelers and remote workers.
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Image Source : nypost.com