South Orange Among ‘Most Expensive Zip Codes’ In New Jersey: Report

SOUTH ORANGE, NJ — South Orange was recently named as one of the “Most Expensive Zip Codes In New Jersey” in a recent report.

Earlier this month, real estate research website PropertyShark named the township as the 41st most expensive zip code in the Garden State for 2016, stating that South Orange homes have a median value of $639,625.

The top five most-expensive zip codes in the report included:

• Alpine (07620) - $2,050,000 median home value
• Short Hills (07078) - $1,430,000
• Stone Harbor (08247) - $1,110,000
• Englewood Cliffs (07632) - $1,050,000
• New Vernon (07976) - $1,037,500

See the full study and ranking list of zip codes here.

“As New York City housing costs continue to skyrocket, pushing homeownership out of reach for many people, residents are shifting their focus across the Hudson River,” the study states. “According to a Q4 2016 report from Marcus & Millichap, households and businesses alike are flocking to New Jersey, adding thousands of new jobs and fueling both single- and multi-family development in the region. As a result, the market has blossomed into one of the most sought-after destinations in the Northeast.”

Photo: Flickr Commons

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