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Residential and Commercial Growth in Barnegat, NJ

By
Real Estate Agent with Keller Williams Shore Properties 1005238

New Homes in Barnegat continuing to be built. 

Experts project Ocean County's population will grow at nearly triple the rate of the rest of the state through 2016.Barnegat, NJ

A study by the state Department of Labor and Workforce Development's Division of Labor Market and Demographic Research found that the county's population increased from 208,470 in 1970 to an estimated 573,678 in 2009. This 175.2 percent increase in population far exceeded the state's growth rate of 21.5 percent during that same period.

The study also projected that Ocean County will continue to grow at a faster rate, at 11 percent, than the state's 4.6 percent in the decade between 2006 and 2016. And by then, the study said, it will be the fifth most populous county in the state.

If any substantial future growth does happen in southern Ocean County, much of it would likely happen in Barnegat Township.

Since 1970, the township's populations has jumped from 1,539 to 22,643 - an increase of 1,371 percent. And the township still has 2,500 to 3,000 housing units already approved that have yet to be built.

Even through the economic downturn, 120 to 150 homes a year have been built. Development is still very active in Barnegat and in all likelihood will continue.

There are restrictions on development in Barnegat, such as ordinances regulating building height - to prevent high rises - and state restrictions on where growth can occur. The township's state-regulated "growth zone" encompasses the Ocean Acres section of the township and some land west of the Garden State Parkway and recently opened parkway entrance/exit at Exit 67 has already started attracting new businesses, such as a CVS, Wawa and is expected to attract even more commercial businesses.

If you're interested in buying, selling or investing in Real Estate in Barnegat, Ocean County or along The Jersey Shore, click on TheJerseyShoreHomeFinder.com and get free access to thousands of home listings.   If you'd like to keep up with the very latest real estate market conditions in your neighborhood or anywhere in Ocean County and on The Jersey Shore, click here.  

Looking for something do this weekend in Ocean County or just want to keep up with current events? The Jersey Shore News will keep you informed with local community information and happenings.

Karl Hess - Ocean County, NJ and Jersey Shore Homes and Real Estate - Get free access to all listings with photos in Ocean County including waterfront, beachfront and water-view homes on The Jersey Shore  

 

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Nor Yeretsian
Envoy Capitol Realty Inc. - Toronto, ON
Envoy Capitol Realty Inc., Brokerage Toronto

Nice post Karl.  Its all about Demand chasing Supply - and it looks like the Demographics are in Ocean County's favour. This is Good News !

Cheers

Nor Yeretsian

Nov 18, 2010 11:16 PM