The Census Bureau has released the latest estimates from the American Community Survey data to estimate the percent homeowners. We have crunched the numbers and the rankings are in. See the ZIPs in New Jersey with the highest percent homeowners below, and the lowest percent homeowners ZIPs. Only ZIP codes with a low margin of error are included.
Even though the housing markets have fluctuated wildly over the last decade, owning a home can be one method to building long-term wealth. A recent study by Florida Atlantic University, Florida International University, and the University of Wyoming concluded that renting can also build long-term wealth if the renter can save and re-invest any money saved by not owning a home. Of course, many renters choose to spend the extra funds on consumer goods which is the least desirable for building long-term wealth.
The New Jersey percent homeowners from the latest estimates is 63.8% and has risen 0.9% from 63.2%.
This year saw several big changes. 08319 (Estell Manor, NJ) rose from #2 to #1, 08022 (Columbus, NJ) rose from #3 to #2, 07746 (Marlboro, NJ) rose from #6 to #3, 08510 (Millstone Township, NJ) fell from #1 to #4, and 08535 (Millstone Township, NJ) rose from #7 to #5.