Land Market Insights and Pricing in New Jersey

New Jersey, despite being the fifth-smallest state in land area at 7,354 square miles, is the most densely populated U.S. state. Forests cover approximately 45% of its land, including the expansive New Jersey Pine Barrens in the southern interior. The state boasts diverse geographic features such as the Delaware Water Gap, Great Swamp National Wildlife Refuge, and the Jersey Shore. New Jersey's highest point, High Point in Montague Township, Sussex County, reaches 1,803 feet above sea level. While the state offers natural beauty, it comes with financial considerations. New Jersey has a progressive income tax system with rates ranging from 1.4% to 10.75%, generally higher than surrounding states. Property taxes are particularly steep, with the highest effective rate in the nation at 2.23%. However, the state's agricultural sector presents opportunities, ranking 3rd nationally in bell pepper production value at over $52 million. For those seeking waterfront living, Ocean County stands out with its extensive Atlantic shoreline and approximately 40 miles of barrier beaches forming the Barnegat and Little Egg Harbor Bays. The county's natural allure is complemented by a robust local economy, reflected in above-average median worker earnings of $48,583. Despite high tax rates, New Jersey's economic prospects remain promising, bolstered by its strategic location between major metropolitan areas and its diverse industrial base.