Wenonah is home to the best residential real estate investment market in New Jersey.
The 08090 zip code in Wenonah presents the greatest opportunity for the best real estate investments among the 1,680 individual real estate markets in New Jersey we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
5 best places to invest in New Jersey
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Wenonah | 100 | 2.9 | 67.98% |
| 2 | Vernon | 94.8 | 3.2 | 67.03% |
| 3 | Mantua | 94.2 | 3.0 | 67.44% |
| 4 | West Berlin | 94.1 | 3.6 | 72.35% |
| 5 | Stanhope | 93.5 | 3.1 | 62.55% |
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1. Wenonah
We've identified the 08090 zip code in Wenonah as New Jersey's best real estate investment market. Here's why.
🔎 Key data about Wenonah
| Data point | Value | Rank in state (of 1,680 markets) |
|---|---|---|
| Zip code | 08090 | N/A |
| InvestScore | 100 | Highest |
| Typical property value | $323,309[1] | 57th lowest |
| Five-year appreciation | 67.98%[2] | 82nd highest |
| Household income | $111,058[3] | 196th highest |
| Affordability ratio | 2.9 | 2nd most affordable |
| Five-year population growth | 20.0%[4] | 10th highest |
| Unemployment rate | 3.9%[5] | 72nd lowest |
| Property taxes | $7,062[6] | 84th lowest |
| Educational attainment | 35.1%[7] | 273rd highest |
Wenonah (zip code 08090) is the best residential real estate investment market in New Jersey. It has the 82nd highest property value appreciation among markets we evaluated, with a 67.98% appreciation of the typical property over the last five years.
Wenonah is the 2nd most affordable market among the 1,680 New Jersey markets we evaluated, with an affordability ratio of 2.9.
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2. Vernon
The 07462 zip code in Vernon is the runner-up spot for the best real estate investments in New Jersey.
🔎 Key data about Vernon
| Data point | Value | Rank in state (of 1,680 markets) |
|---|---|---|
| Zip code | 07462 | N/A |
| InvestScore | 94.8 | 2nd highest |
| Typical property value | $291,678[8] | 34th lowest |
| Five-year appreciation | 67.03%[9] | 92nd highest |
| Household income | $92,596[10] | 277th highest |
| Affordability ratio | 3.2 | 8th most affordable |
| Five-year population growth | 2.3%[11] | 206th highest |
| Unemployment rate | 2.9%[12] | 15th lowest |
| Property taxes | $6,202[13] | 40th lowest |
| Educational attainment | 30.4%[14] | 311th highest |
The 07462 zip code in Vernon features a typical property value of $291,678, the 34th lowest in the state.
Property values have appreciated 67.03% over the past five years, the 92nd highest increase among evaluated markets in the state. Vernon homes have an affordability ratio of 3.2, the 8th most affordable in the state.
3. Mantua
The 08051 zip code in Mantua comes in at No. 3 in our ranking of the best residential real estate investment markets in New Jersey.
🔎 Key data about Mantua
| Data point | Value | Rank in state (of 1,680 markets) |
|---|---|---|
| Zip code | 08051 | N/A |
| InvestScore | 94.2 | 3rd highest |
| Typical property value | $289,663[15] | 32nd lowest |
| Five-year appreciation | 67.44%[16] | 88th highest |
| Household income | $95,577[17] | 265th highest |
| Affordability ratio | 3.0 | 3rd most affordable |
| Five-year population growth | 16.9%[18] | 19th highest |
| Unemployment rate | 6%[19] | 236th lowest |
| Property taxes | $6,694[20] | 71st lowest |
| Educational attainment | 34%[21] | 282nd highest |
With a typical property value of $289,663, Mantua's 08051 zip code features the 32nd lowest property values in the state.
Mantua homes have an affordability ratio of 3.0, the 3rd most affordable among the markets we evaluated.
4. West Berlin
The 08091 zip code in West Berlin ranks No. 4 among New Jersey's residential real estate investment markets.
🔎 Key data about West Berlin
| Data point | Value | Rank in state (of 1,680 markets) |
|---|---|---|
| Zip code | 08091 | N/A |
| InvestScore | 94.1 | 4th highest |
| Typical property value | $319,189[22] | 55th lowest |
| Five-year appreciation | 72.35%[23] | 64th highest |
| Household income | $87,593[24] | 64th highest |
| Affordability ratio | 3.6 | 62nd most affordable |
| Five-year population growth | 7.8%[25] | 69th highest |
| Unemployment rate | 2.7%[26] | 14th lowest |
| Property taxes | $7,154[27] | 90th lowest |
| Educational attainment | 24.5%[28] | 352nd highest |
Property values in West Berlin's 08091 zip code have seen the 64th highest increase among evaluated markets in the state, with an appreciation of 72.35% over the past five years.
West Berlin's affordability ratio of 3.6 makes it the 62nd most affordable among the 1,680 markets we evaluated.
5. Stanhope
The 07874 zip code in Stanhope rounds out our top five residential real estate investment markets in New Jersey.
🔎 Key data about Stanhope
| Data point | Value | Rank in state (of 1,680 markets) |
|---|---|---|
| Zip code | 07874 | N/A |
| InvestScore | 93.5 | 5th highest |
| Typical property value | $396,002[29] | 93rd lowest |
| Five-year appreciation | 62.55%[30] | 119th highest |
| Household income | $125,732[31] | 119th highest |
| Affordability ratio | 3.1 | 7th most affordable |
| Five-year population growth | 4.0%[32] | 143rd highest |
| Unemployment rate | 3.3%[33] | 31st lowest |
| Property taxes | $8,278[34] | 137th lowest |
| Educational attainment | 38.8%[35] | 235th highest |
Property values in Stanhope's 07874 zip code rose 62.55% over the last five years, ranking the city 119th highest among evaluated markets in New Jersey.
Stanhope homes have an affordability ratio of 3.1, the 7th most affordable among the markets we evaluated.
Investing in residential real estate can be one of the best passive real estate investments in New Jersey.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in New Jersey
To determine the best real estate investments in New Jersey we evaluated 1,680 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in New Jersey.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.
🚨 Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.
