One of the best investment opportunities to look out for are New Jersey beach towns. It’s common for people to travel down to the sunny Jersey shore beaches to enjoy the sparkling waters, friendly locals, and warm sunlight.
Their persistent popularity is precisely what makes beach towns in New Jersey excellent additions to a real estate investor’s portfolio. However, there are many seaside towns to choose from in New Jersey. Thankfully, we’ve written this article as a helpful guide on the various beach towns. Below, we provide information on just what makes each of these NJ beach towns so enticing.
The coronavirus pandemic and following lockdowns help to demonstrate why New Jersey beach towns are such valuable additions to an investor’s portfolio. While their profits dipped slightly at the height of the pandemic, towns on the Jersey shore proved to be surprisingly resilient despite the challenging economic times.
Financial resilience is one of the most important traits to consider when purchasing new assets for your portfolio. It means that some of your assets will retain value, even if the economy takes a turn for the worse.
Understanding the value of New Jersey beach towns is only a part of the process. Now, you have to pick the one that best fits your portfolio. The table below displays a basic overview of the most prosperous beach towns on the Jersey shore, but it’s only part of the picture.
|Median House Price||Year Round Population||Boardwalk||Total Area (square feet)||Number of Households||Median Age of residents|
|Point Pleasant||$388k||4,573||Yes – 1 mile||1.7||1,985||45.7|
|Ocean City||$517k||10,859||Yes – 2.5 miles||10.8||5,890||53.6|
|Wildwood||$280k||4,862||Yes – 2 miles||1.4||2,251||38.0|
|Cape May||$278k||3,374||Yes – 2 miles (paved)||2.7||1,457||42.2|
Sea Bright is one of the most expensive neighborhoods to buy property in because of its history as the first Oceanfront Town. Its historical significance attracts people just as well as its beautiful locale and excellent cuisine. However, despite its value, its small size and lack of boardwalk entertainment mean that you likely won’t see a quick return on your investment.
While tourists flock to Sea Bright in the summer, you’ll only see a peak population of around 1,400 people.
Long Branch is one of the largest cities on the Jersey shores and, from the 1860s to the 1920s, was one of its most glamorous. In its past, the oceanfront town was a trendy vacation spot for the rich and famous with its visitors, including people like Diamond Jim Brady, Lily Langtree, and President Grant.
The large waterside town saw a decline after the 1920s but, with the construction of its new boardwalk and establishment of several summertime activities, it’s enjoying a modern-day resurgence. It’s also nearby to a top contender for the best NJ beach for families, Sandy Hook National Seashore.
Asbury Park has been through tough financial times in the past. During the 1930s, it was one of the most popular places to visit in Monmouth County, with a wide variety of entertainment available for vacationers to peruse. But the post-war economic decline hit the Oceanside town hard, causing a deep urban decay to overtake the once glittering city.
However, recent revitalization projects have seen some of the life return to Asbury Park, with new housing and infrastructure bringing in more visitors than ever.
Point Pleasant is attractive because of the clear separation between the beach and the town. While it has all the standard trappings of a New Jersey beach town, including a mile-long boardwalk packed with prosperous stores, the oceanside stores only serve as an addition to the heart and soul of the city proper.
The bustling downtown shopping area and activities make Point Pleasant one of the more popular vacation spots and investment opportunities.
Seaside Heights may be a smaller area, but its boardwalk comes with various games, restaurants, and rides that attract nearly 3,000 vacationers every year. Since its small population can swell to such proportions, it can offer investors a quick return of profits and a resilient financial nest egg.
Ocean City’s motto is “America’s Greatest Family Resort,” and, judging how often it voted New Jersey’s best beach town, they certainly live up to that. With 8 miles of shoreline for swimming, boogie boarding, and surfing, along with a two-and-a-half-mile long boardwalk full of stellar rides, games, and diners, purchasing property in Ocean City can easily earn back your investment and then some.
Avalon is an upscale tourist destination, evidenced by the higher property values and low population. It doesn’t see many visitors and lacks a proper boardwalk, but the higher-end stores more than make up for the missing rides and games.
Wildwood has its place in popular culture due to its unique Doo Wop style of architecture, a futuristic type of building introduced in the Atomic Age. As a result, thousands of people flock to Wildwood every year to visit the Doo Wop Preservation League and momentarily step into the past while enjoying the vast array of diners and attractions that WildWood has to offer.
Cape May is one of the five cities designated as a historic landmark in the United States. The residences within the town date back to the 1800s—some were even used as waypoints for the Underground Railroad. Today, many of those manors have been converted into charming bed and breakfasts, reliably attracting visitors from all over.
As you can tell from above, New Jersey beach towns have a lot to offer for beginner or veteran investors. While they may be expensive, their many attractions and picturesque locations are sure to attract visitors and help make your money back.
If you’re looking to buy real estate in one of these beach towns in New Jersey, then feel free to visit Cornerstone Capital at www.corcapfinancial.com. Our expert financial advisors will ensure that the purchasing process is as quick and easy as possible!