This Is the No. 1 Housing Market in New Jersey-and Home Values Have Nearly Doubled in 5 Years

"Located about halfway between New York City and Philadelphia, Lakewood is a historic town with parks, museums, and a population that has exploded over the last few decades; it's now the fourth-largest town in the state. As of October 2025, the median home value in Lakewood is $733,729, which is 6.7 percent higher than the previous year and a jaw-dropping 97.5 percent higher in the last five years."

"But if your heart is set on purchasing a home in New Jersey-and you're hoping to see a significant return on your investment-GOBankingRates has a few more options for you. Ventnor City on Absecon Island experienced a 92.4 percent change in home value over the last five years, and Spring Lake along the Jersey Shore, where current home values are north of $1.6 million, saw a 74.2 percent home value change over the same period."

"Payscale notes that housing costs in Lakewood are 44 percent higher than the national average, and Redfin describes the housing market as "somewhat competitive." In general, New Jersey is one of the more expensive states in the country, with a cost of living 15 percent above the national average. Accounting and auditing firm PricewaterhouseCoopers (PwC) recently listed Northern New Jersey, alongside Jersey City, Brooklyn, and Manhattan, as one of the top ten "markets to watch" in 2026."

Analysis of the 7,500 largest U.S. housing markets identified cities with one-year and five-year home-value changes above the national average. Lakewood, New Jersey, registered a median home value of $733,729 in October 2025, rising 6.7 percent year-over-year and 97.5 percent over five years. Housing costs in Lakewood run about 44 percent above the national average, and local listings are described as "somewhat competitive." Additional high-growth New Jersey markets include Ventnor City (+92.4%), Spring Lake (+74.2%, with values north of $1.6 million), Hoptatcong (+65.7%), and South Orange (+60.2%). Northern New Jersey appears on PwC's 2026 list of markets to watch.

Read at Travel + Leisure