And when it comes to education, New Jersey is top of its class. New Jersey is also located close to Philadelphia, another destination for top employment and education, making it a natural choice for those who commute to the City of Brotherly Love. For those who work in the Big Apple, New Jersey offers a wide variety of quiet commuter neighborhoods that are convenient to New York City while offering a more laidback lifestyle and lots more space, both inside and out. Just outside of Philadelphia, Central New Jersey is peppered with quaint towns and suburban cities brimming with rich experiences, cultural activities, and unique retail and dining destinations, while Southern New Jersey features everything from beautiful scenery to sleepy seascapes.Ī commuter's dream, New Jersey's state-of-the-art infrastructure makes it easy to travel to and from its neighboring states via roads, rails, airports, and waterways. Central/Southern New Jersey spans the Delaware River to the Atlantic Ocean, a tapestry of agricultural homesteads, lush forests, and seemingly endless beaches.
Northern New Jersey is set between New York and Pennsylvania, contrasting abundant areas of natural beauty with thriving urban centers featuring high-rise condominiums, such as Jersey City and Hoboken. Toll Brothers New Jersey is proud to build a wide array of new luxury communities throughout the state's most desirable locations, including the northern, central, and southern regions.
#ARGUS DEVELOPER SINGLE FAMILY HOME PROFESSIONAL#
The perfect location makes it the ideal for anyone from the young professional with urban connections to the empty nester seeking low-maintenance living and an active lifestyle to build a new construction home. Geographically, New Jersey is centrally located between New York City, Philadelphia, and Washington, DC. In 2018, USA Today ranked New Jersey #6 in its "Best States to Live In" list. Through the end of July, asking rents on single-family rentals had soared nearly 13 percent year-to-date, the highest increase in five years.Īs the built-to-rent boom continues, some see the pace of growth as unsustainable amid rising land prices and supply nearing a potential glut, according to the Journal.Known as The Garden State, New Jersey is home to nearly 800,000 acres of productive farmland, but there's much more to New Jersey than its nickname suggests. One drawback for renters is that they don’t often match the savings that homeowners build via equity in their properties for many, their home becomes their most valuable asset.Īffordable rent is also becoming harder to come by.
Single-family rentals offer a flexible solution without requiring down payments or expensive closing costs, while landlords take care of maintenance and repairs. The Journal reports American Homes 4 Rent built 1,600 homes last year and expects to deliver at least 2,000 more this year.Īmericans are turning to rentals as they’re increasingly priced out of homeownership. The industry’s big players are getting in on the action too. American Homes 4 Rent eyes Zillow flop on flips.Single-family rentals soaring in hot housing market.Asking rents for single-family homes have spiked 13% since January.The fastest-growing housing sector in the country, built-to-rent homes make up 6 percent of all homes being constructed in the United States, and according to the Times, that number could double in the next decade. Single-family homes constructed to be rentals started booming in 2020, when the number of homes built soared 30 percent year-over-year, the New York Times reported.
Nearly $30 billion in debt and equity have entered the sector this year. Brad Hunter of Hunter Housing Economics claims almost 100,000 built-to-rent homes have kicked off construction this year alone, according to the Journal. Money and construction have poured into the property sector in recent months.
Data reported by the Wall Street Journal show the expected risk-adjusted return on built-to-rent investments is 8 percent on average, higher than the weighted average return of 6.1 percent across all sectors. Securities advisory Green Street tracks investment returns on 18 different property sectors. Single-family homes built for rent are proving to be the strongest market angle for investors, delivering strong returns based on sustained demand, short supply and high prices. The properties reportedly offer investors an average risk-adjusted annual return of about 8 percent.