national
New Jersey
metro
district
New Jersey
New Jersey apartments and their residents contribute $98.5B to the state economy annually, supporting 432.6K jobs.
state data - New Jersey
0.1M
Apartment Residents
Spending from New Jersey's apartment residents contributes
$85.1B
to the local economy each year (including
$12.2B
in taxes), creating
393K
jobs.
0.0K
Apartment Homes
The operation of New Jersey's apartment homes contributes
$6.4B
to the local economy each year (including
$2.8B
in property taxes), creating
10K
jobs.
3%
Share of New Jersey's Apartments Built Before 1980
The renovation and repair of apartments helps preserve New Jersey’s older more affordable units, contributing
$2B
to the local economy annually and creating
7K
jobs.
Age of Stock
Before 1959
3%
1960 - 1979
3%
1980 - 1999
2%
2000 or Later
3%
0K
New Apartments Needed Annually
Apartment demand is growing and the industry needs to keep up. However, producing enough new apartments to meet demand requires new development approaches, more incentives and fewer restrictions.
New Jersey needs to build
3K
new apartment homes each year to meet demand. Apartment construction contributes
$5.3B
to New Jersey's economy annually, creating
22K
jobs.
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