Governor Phil Murphy welcomed 2025 by celebrating the year-over-year population growth rate in New Jersey, where the number of residents climbing to an estimated 9,500,851, according to the latest data from the U.S. Census Bureau, an increase of 1.3% or 121,209 from 2023.
According to the governor’s Office, “New Jersey experienced a 2.3% population increase — or 211,837 new residents — since April 2020, which marked the release of the Decennial Census data. This consistent growth highlights New Jersey’s ongoing upward population trend.”
“We are incredibly proud to see that New Jersey is among the top 10 states for population growth,” said Murphy. “We are also thrilled to have reached our largest number of jobs and employers in Garden State history. This Census data is a testament to the important work being done each and every day across the Administration to support our workers and continue building a stronger, fairer New Jersey.”
Not everyone agrees with Murphy’s assessment of the Garden State’s population boom as a positive development. At the very least, more people in New Jersey place greater burdens on state resources. According to The Bergen Record, “A 2023 report from the U.S. Environmental Protection Agency estimated that New Jersey will need $31.6 billion for water infrastructure improvements over the next 20 years. Housing, transportation and energy systems are also under strain.”
At the 116th annual Building Trades Council Convention in 2021, the organization’s president reminded members of a salient organizing principle: Don’t get distracted by causes outside the core mission of the Building Trades. What is the core mission? Building. “All we do is build,” said President William “Bill” Mullen.
What will the building look like and ultimately who will it serve?
InsiderNJ composed the following list as a way of identifying those players on the front lines of New Jersey’s infrastructure and development expansion, which promises to get even more complex in the coming years amid the ongoing population influx.
Download Insider NJ’s Real Estate Publication or view it below:
(Visited 138 times, 138 visits today)
Click here for the full Insider Index
New Jersey’s real estate market has always been a hot topic for investors, homebuyers, and sellers alike. With its proximity to major cities like New York and Philadelphia, as well as its beautiful beaches and diverse communities, New Jersey has long been a desirable place to live and invest in property.
In 2025, the real estate market in New Jersey is expected to continue to be strong, with steady growth in home prices and sales. According to Insider NJ’s PDF publication, there are several key trends and factors that will shape the real estate market in the state over the next few years.
One of the biggest trends in the New Jersey real estate market is the continued demand for housing in urban areas. Cities like Jersey City, Newark, and Hoboken have seen a surge in development and investment in recent years, as more people are drawn to the convenience and amenities of city living. This trend is expected to continue in 2025, with developers focusing on creating mixed-use developments that combine residential, retail, and office space.
Another key factor driving the New Jersey real estate market is the state’s strong economy. With a diverse range of industries, including finance, healthcare, and technology, New Jersey has a stable job market that attracts new residents and keeps existing ones in the state. This economic stability has helped to support the housing market, with steady demand for homes and rental properties.
In terms of pricing, home prices in New Jersey are expected to continue to rise in 2025, albeit at a slower pace than in previous years. This is due to a combination of factors, including limited inventory, high demand, and rising construction costs. As a result, buyers may face increased competition for homes, especially in popular areas like Bergen County and Monmouth County.
For sellers, this means that now could be a good time to list their properties on the market. With low inventory and high demand, sellers may be able to fetch a higher price for their homes and sell them more quickly than in a slower market. However, it’s important for sellers to work with a knowledgeable real estate agent who can help them navigate the complexities of the market and negotiate the best deal for their property.
Overall, the New Jersey real estate market in 2025 is expected to be strong and competitive, with continued demand for housing in urban areas, steady economic growth, and rising home prices. Whether you’re looking to buy, sell, or invest in property in the state, it’s important to stay informed about the latest trends and developments in the market. Insider NJ’s PDF publication can be a valuable resource for staying up-to-date on the New Jersey real estate market and making informed decisions about your real estate transactions.
