The Average Cost Of An Atlantic County, NJ Home Up Almost 25% In 2021
Unless you've been living under a rock under the last year, you're not ignorant to the fact that the cost of living has increased almost everywhere in the country since the start of the pandemic.
Not that anyone in New Jersey is ignorant to how much it costs to live here, but you may be surprised to hear that over the last year alone, housing prices in South Jersey have seen a significant increase also. The whole country knows that Jersey's not cheap. For one, we have some of the highest property taxes in the country. That's what you get when you pack so many people into such a small state.
South Jersey, however, has always been less of a bear on people's pocketbooks. Another factor that sets the southern region of the state apart from the middle and northern counterparts is that people aren't as on top of each other in Cumberland, Atlantic, and Cape May Counties when compared to other parts of the state.
With that being said, it still catches your ear when you hear that homes in South Jersey, particularly Atlantic County, have increased so much in price over the last year that they've surpassed the national average. According to findings originally published by Porch.com, the average cost of homes in Atlantic County have gone up by almost 25%. The national average is an increase of just shy of 18%.
The data collected shows that in 2021, the average cost of a decent home in Atlantic County is now about $2000 shy of $270k. That's what the analysis demonstrates for the median home within the region. If homes have gone up almost 25% within the last year, then that would mean that the median home in 2020 fell within the $200k-$210k range, give or take.
That's a pretty big difference in a chunk of change people are shelling out. Of course, it's all impacted by supply and demand. Who knows? If things life starts resemble what it looked like pre-pandemic over the last few months, maybe next year's numbers won't be so high. We'll have to wait for 2022 data to see if that's the case.
Speaking of homes in South Jersey...