Welcome to New Jersey

Your life in the Garden State begins

|
New Jersey Self-StorageReasons to Move to New JerseyMoving to New JerseyEconomic OutlookPlaces to LiveResources

Welcome to New Jersey

New Jersey, also known as "The Garden State," has a population of 8.9 million people and is bordered by Pennsylvania, New York, and Delaware, as well as the Delaware Bay, the Atlantic Ocean, and Long Island. The Atlantic Coastal plain is covered in pine forests, salt marshes, and low hills. The New England Upland area contains flat-topped rock ridges and several lakes. New Jersey's natural resources include sand, granite, gravel used for mining.

The state is a leader in seafood production, specifically clams harvested off the coast. New Jersey's major industries include tourism, transportation, manufacturing, healthcare, and biopharmaceuticals.

The Garden State has tons to do whether you're planning to visit or stay for good, including historical sites, museums, national parks, and, of course, Atlantic City. Some of the top attractions include Plemont Bay, Elizabeth Castle, The Jersey Zoo, The SandWizard, and St. Brelade's Bay Beach.

New Jersey Self-Storage Facts

Self-storage development has been on the rise in New Jersey, along with the rest of the country as well. The development wave is a result of developers racing to meet pent up demand caused by a lack of storage facility construction after the last recession. New Jersey, especially given its place in the major metro areas of New York City and Philadelphia, has seen an abundance of new development in recent years. Still, New Jersey remains generally undersupplied based on the average amount of self-storage space per resident of the state. People moving to and from New Jersey create demand for self-storage space, as most people who use storage report that they are doing so as part of the relocation process.

Below is an overview of the current state of the New Jersey self-storage market:

Below are some statistics that provide an overview of the self-storage industry in New Jersey:

588

New Jersey is home to about 588 self-storage facilities.

32,621,181

New Jersey self-storage facilities cover 32,621,181 square feet of storage space.

3.67

New Jersey storage facilities offer 3.67 square feet of storage per person, which is much lower than the national average of 5.4 square feet per person.

Reasons to Move to New Jersey

1

Ideal location. New Jersey is close to NYC and Philadelphia, so if you're considering a move there, you'll always be just a bus ride (or car trip) away from two of the most-visited cities on the East Coast. Central Park or Liberty Bell anyone?

2

The Jersey Shore. Minus Snooki, J-Wow, and the rest of the crew. The actual Jersey Shore is gorgeous and a great place to unwind after a long day at work. Head to Point Pleasant, Seaside or the Wildwoods beaches for plenty of fun and shopping.

3

Plenty of shopping. Speaking of shopping, New Jersey is home to a host of malls and no matter where you move in the state, you'll never be more than 15 minutes away from a mall. The major shopping malls include Westfield Garden State Plaza, Tanger Outlets Atlantic City, Willowbrook Mall, Paramus Park, and The Mall at Short Hills.

4

Outdoor activities. The Garden State has lots to offer in terms of outdoor activities. From hiking through the mountains and hills and walking the nature trails to jet skiing and boating, you'll have tons to do when the weather is nice. Not to mention amusement parks, balloon and helicopter tours, cruises, swimming, sailing and more.

5

The Greenery. New Jersey is called The Garden State for a reason. And it's because of the seemingly endless amount of green patches, state parks, reserves, and trees. And with that greenery comes a large amount of fresh produce, especially tomatoes, cranberries, asparagus, blueberries, and corn. Find a local farmer's market and enjoy some of the best and freshest fruits and veggies.

6

Sports stadium. If you're a fan of the New York Jets or the New York Giants, you'll be glad you moved to Jersey when you realize that the MetLife Stadium is located in the Meadowlands of East Rutherford, New Jersey. The New Jersey Devils also have a home in Jersey at the Prudential Center in downtown Newark.

7

Atlantic City. Like to hit the slots but don't want to make the trip all the way out to Vegas? Then, you'll love Jersey because Atlantic City (the place where Monopoly was created) is a top gambling destination in the US. And if you don't feel like heading out to the casinos for whatever reason, you can always gamble online since the state legalized online gambling back in 2013.

8

You'll never have to pump your own gas. True story. In Jersey, it's actually illegal to do it yourself. So every time you go to the pump you can kick back and feel like royalty.

9

The fall season. Much like Upstate New York, New Jersey boasts a beautiful fall season. With leaves changing to beautiful colors like reds and yellows, browns and oranges, you'll love the gorgeous scenery during the fall months in NJ.

10

Diversity. Back in 2018, WalletHub named Jersey City as the second-most diverse city in America, meaning there's more of a chance you'll find your own little tight-knit group of friends that "get you."

Moving to New Jersey

New Jersey has a population of 8.9 million people. It's the 11th most populous state and is 47th when it comes to size. From 2018 to 2019, the population grew by 0.16 percent. It seems that more people have been moving out of New Jersey than moving into in the last few years. Roughly 225,000 New Jersey residents moved to another state in 2017, but only 152,000 out of state residents moved into the Garden State. Seniors are leaving the state to retire. New Jersey's population of 22- to 34-year-olds is growing somewhat slowly, probably because a decent number of millennials are leaving for job opportunities. However, some well-off millennials are also moving into the state looking for a home close to the city or a train station.

New Jersey Economic Outlook

New Jersey has a GDP of $634 billion as of 2018. If it were a country, its GDP would be similar to the Taiwan Province of China, which has a GDP of $603 billion. New Jersey's unemployment rate is 3.2 percent, as of August 2019, according to the Bureau of Labor Statistics.

Below is a breakdown of the top five sectors by real value GDP added:

$121.38 billion
Finance, insurance, real estate, rental, and leasing
$93.48 billion
Professional and business services
$54.25 billion
Government and government enterprises
$51.79 billion
Educational services, healthcare, and social assistance
$47.57 billion
Wholesale trade

New Jersey is looking at an economic growth slower than the national average through 2025. Job growth is expected to improve by 1.1 percent and 0.8 percent through 2045. Information manufacturing will continue to decline as sources of jobs and the trade and public sectors will see an increase in jobs. New Jersey's cost of living is 132.6, meaning it's more expensive to live in New Jersey than the US as a whole. On the plus side, healthcare in New Jersey is lower than the national average.

Who are New Jersey's Largest Employers?

EMPLOYER
NUMBER OF EMPLOYEES
Cognizant
Honeywell
Johnson & Johnson
Conduent
Merck

Places to live in New Jersey

New Jersey is 8,721 square miles and the 47th biggest state in the country. It has an average of 1,195 people for each square mile and its three largest cities include Newark, Jersey City, and Paterson.

Newark

Newark is the largest city in New Jersey without a population of 283,756. The city gets over 18 million visitors each year thanks to the outlet malls, museums, art exhibits, sporting events, live music events, and assortment of other activities and attractions. Whether you want to learn the art of glass blowing or head to an arena for the next soccer game, Newark has something for everyone.

Cost of living
22 percent higher than the national average
Median home price
$265,000
Average rent
$1,198 per month
Average apartment size
706 square feet

Jersey City

As the second-largest city in New Jersey, Jersey City has a population of 265,004 people. Often called Wall Street West, Jersey City plays an important role in the banking and finance industry. But it's also got a variety of attractions and activities, including Liberty State Park, the Liberty Science Center, Newport Center (for shopping), White Eagle Hall (where you can go and see a show), parks, boat and water sports, tours of NYC, museums, spas, concerts, and nightlife.

Cost of living
31 percent higher than the national average
Median home price
$487,400
Average rent
$2,950 per month
Average apartment size
834 square feet

Paterson

Paterson is New Jersey's third-largest city and more than 146,919 people call it home. It has the second-largest Muslim population in the country and a large number of things to do and see, including Garret Mountain Reservation, Lambert Castle Museum, Paterson Great Falls National Historical Park, Passaic Falls, Saddle River County Park, and Fabian 8 Cinema.

Cost of living
19 percent higher than the national average
Median home price
$273,600
Average rent
$1,242 per month
Average apartment size
738 square feet

Moving to New Jersey Resources

All New Jersey Cities