What's working in New Jersey's favor?

The housing market is a favorite topic for the media these days. In general, the news coverage of the real estate market by New Jersey's media outlets has tended to focus on national trends. However, these news stories do not present an accurate picture of what is actually occurring here in the Garden State. There are many positive market forces contributing to the state's healthy residential and commercial real estate markets, including:

The exceptional employment opportunities afforded to New Jersey citizens draw people to the state.

• New Jersey's 2007 median household income was was $67,035, an increase of 1.3% over the 2006 median income of $66,159. According to the U.S. Census Bureau, New Jersey had the 2nd highest median income in the nation in 2007 (behind Maryland at $68,080).
  Source: US Census Bureau

People want to raise their families in New Jersey because of the excellent school systems.

• New Jersey ranked 7^th in the nation in graduation rates (behind Nebraska, Wisconsin, Vermont, Iowa, North Dakota and Minnesota).
  Source: Digest of Education Statistics, US Department of Education
  
  

• New Jersey also has seen 8 out of 10 high school graduates enter college after high school according to the New Jersey Department of Education statistics from 2005-2006.
  Source: New Jersey Department of Education

New Jersey's thriving tourism industry fueled by the Jersey Shore makes it an attractive place to live.

• In 2007, tourism expenditures in New Jersey totaled $38 billion. In terms of economic value to the state, this number is $27 billion.
  Source: NJ Tourism: An Economic Juggernaut, April 2008

New Jersey's proximity to New York City and Philadelphia makes it a convenient place to live.

• New Jersey's extensive transportation infrastructure makes it easy to commute into these cities, as well as transport goods to other areas in the nation. In fact, the New Jersey Turnpike is one of the most densely traveled roadways in the nation.
  Source: The New Jersey Turnpike Authority

While there are many positive forces working in New Jersey's favor, there is no way to quantify what the Garden State means to the roughly 8.7 million people who call it home. From bustling streets to quiet country roads, from wind-swept beaches to cranberry bogs, from lively casinos to historic battlefields - New Jersey can't be defined. Maybe that is why Money Magazine named seven towns in New Jersey to its 2007 list of "Top 100 Best Places to Live" in America (#13 Montville, NJ, #23 Hillsborough, NJ, #29 River Vale, NJ, #45 Berkeley Heights, NJ, #47 Sayreville, NJ, #58 Readington, NJ, #78 Moorestown, NJ).