Cedar Grove is a township located in north Essex County, New Jersey. With a population just over 12,000, this township was ranked the 4th Best Place to Live in Essex County and the 17th Best Place to Live in the state of New Jersey.
There are three sections of Cedar Grove that include the North End, South End and Central Cedar Grove. The North End consists mainly of new homes and a few businesses. Central Cedar Grove is the heart of the town and Cedar Grove’s business district. The Essex County Hospital Center is also located here. The South End is the most urban part of Cedar Grove and has homes that are close together, as well as some commercial establishments. There is a balance of commercial properties and residences, making it easy to work and live in Cedar Grove. For example, Route 23 offers many small businesses and restaurants, as well as an auto body shop, hairdresser and supermarket.
The median home value for Cedar Grove is $438,600 according to Zillow, with 96 percent of the homes being single family. The remaining 4 percent of properties are condos, making Cedar Grove an ideal choice for high-income singles, wealthy couples with children and seniors over age 65. More than 15 percent of homes have an income over $200,000, with the median income for families being $94,475.
With the demographics and home values in Cedar Grove, it’s not surprising to see that real estate here has remained steady. Home values have dropped very little, especially compared to other parts of the country. In fact, with the slow construction and low competition, the market in Cedar Grove has been in line with the expectations, and properties have increased in value since the housing recession plummeted in 2008 and 2009.
Cedar Grove is an excellent place for both singles and families to live, and with the high incomes of the residents, many carry a higher education. If you do have children, there is a solid school district in place that serves students from kindergarten through twelfth grade. The schools in the Cedar Grove Public School District include:
- North End Elementary, K-4
- South End Elementary, K-4
- Cedar Grove Memorial Middle School, 5-8
- Cedar Grove High School, 9-12
There are also two nonpublic schools in Cedar Grove: Washington Academy and
St. Catherine of Sienna School.
As for property taxes, Essex County is one of the highest taxed counties in the nation, with approximately 8.1 percent of a homeowner’s paycheck going toward property taxes. Income tax clocks in at 8.97 percent, while sales tax is at 7 percent. Even though these numbers are high, consider that the median salary is $113,092, making Cedar Grove an affluent place to live. The majority of residents make between $100 and $150K a year, as opposed to only 12 percent of the population at large.
Despite the high salaries and affluence of the neighborhood, Cedar Grove has not been exempt from the poor economy. Job growth is down and expected to climb up to 28 percent in comparison with 31 percent for the nation. Fortunately, the historical value of the homes and properties in the area help retain Cedar Grove’s value. There are few townhomes, condos or apartments to drive down property value and no large commercial businesses that bring in residents from nearby areas.
The area is served by the New Jersey Transit bus system, while automobiles travel on Route 23, Interstate 80, Interstate 280, Route 46, Route 3 and the Garden State Parkway. The town is also within close proximity to New York City and Newark.
For more information on Cedar Grove NJ visit: CedarGroveNJ.org