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Real Estate Spotlight - Cumberland County, New Jersey

By
Mortgage and Lending with Jamie Russen - Greentree Mortgage NMLS ID #95705

Cumberland County, New Jersey (NJ) was formed from portions of Salem County on January 19, 1748 in the south central part of NJ State. It occupied 500 square miles of inland real estate and had a share of more than 40 miles of the Delaware Bay coastline. Throughout the county’s 266 year history, many of its characteristics have changed, some by necessity and others by preference of the local residents through their seven member Board of Chosen Freeholders who represent a population of 156,898 (2010 Census Estimates Base number), which has increased to 157,785 as updated for 2012 according to latest estimates from the Census Bureau.

Early in this county’s development, the principal industries upon which the local economy depended were glass making, food processing, textiles and maritime trades; but the county was mostly recognized for the oyster producing capacity of Port Norris, one of 5 CDPs (census designated places) in Cumberland County, which distinguished it as the “Oyster Capital of the World” and propelled the state of NJ to one of the 4 leading oyster producing states in the entire nation. It was also said about Port Norris, that it consisted of “more millionaires per square mile” than anywhere else in the nation.

Such a distinction based on wealth might be best explained by the modest sized population of this community (1,377 as of the 2010 Census), but it nevertheless sets it apart from any other locality nationwide; and of course it would be reasonable for anyone to expect property values in the Port Norris area to be among the highest in Cumberland County during its oyster-producing heyday, based also on the wealth of its residents; but while such an expectation might have been proven true back then, the highest values in the county today have been found in other locations in the county.

Based on recent data, 5 of the properties available for sale at the highest asking prices as of the writing of this article, were located in Millville City, Bridgeton City, Vineland City, Vineland City and Bridgeton City respectfully, with an average list price of $1,249,600; the highest among them being $2,888,000 for a 7 Bedroom, 10 bath, 10,818 sq ft house built in 1965 on a 2.77 acre lot.  Conversely, 5 of the properties available for sale at the lowest asking prices as of the same period were located in Millville City, Vineland City, Vineland City, Millville City and Millville City respectfully, with an average list price of $289,580 and the lowest being $115,000 for a 3 bedroom, 1 bath, 1200 sqft home which also features a fireplace, security system and a pool.

Cumberland County is home to a number of diverse communities, which includes 3 Cities, 10 Townships, 1 Borough (Shiloh) and 6 CDPs where Vineland City is the most heavily populated with 60,724 residents as of Census 2010, a positive change of 7.9 % over the 56,271 posted by the 2000 Census count. And as populations changed in this county, so has local industries which the local economy depends on. As stated on the official county website, Cumberland County New Jersey, today’s local economy relies on “a strong agricultural base with targeted industry sectors…” which include Health Care and Construction, as well as Hospitality/Tourism and Advanced Manufacturing.

And such hospitality is evident in the welcome message to this website’s visitors: Welcome To BeautifulCumberland County is the greeting one can expect – not only upon a visit to the website, but physically stepping foot in the tourism office – from representatives of this county that was ‘voted as one of the “best places to live in New Jersey” by Money Magazine’ on more than one occasion. That having been said, there is no doubt that the quality of life here will be suitable for almost anyone with a preference for a clean, healthy, wholesome lifestyle; but there’s so much more this county has to offer.

Cumberland County boasts one of the most unique locations at the “heart of the Northeast Corridor, [which is] one of the premier markets and manufacturing centers in the world” and “offers a combination of assets which are not found … anywhere else in the region.” With such a blend of industry, geography and attractiveness that helps to characterize this “un-congested” environmentally-friendly section, there is no surprise that this Cumberland is among the most ideal counties in the nation for businesses to locate.

Furthermore, county officials highlight what is considered “the area’s best incentive package, accessible and affordable sites, and the region’s most available and hardworking labor force” as icing on the cake; especially with the availability of “a quality educational system, which produces highly trained and capable students,” as well as capable employees and citizens; making “Cumberland County a great place to do business.” The combination of these positive aspects of the local economy, lifestyles, real estate and business make this New Jersey county one of the most appealing and uniquely competitive places to live, work and play.