Real Estate

Hopatcong a Top Place for Homeownership, Study Shows

Website ranks borough among top-10 places to own a home in state.

As part of its state-by-state series, consumer advocacy site NerdWallet has analyzed the federal data and found the best places for homeownership in New Jersey—and Hopatcong made the top-10.

"Homeownership in New Jersey can be expensive but our analysis found affordable places across the state, including areas close to Philadelphia and New York City," said Maggie Clark, an analyst with NerdWallet. "Moderate home values and high homeownership rates make these cities a good bet for homebuyers."

The data used in this study comes from the U.S. Census American Community Survey 5-year Estimates. The specific sections used to derive each factor can be found in the "Methodology" section at the bottom of the study, along with more details about how each factor was weighted.

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South Jersey's Williamstown, a suburb of Philadelphia, topped the list while Hopatcong was ranked eighth.

"The most affordable place on our list is the borough of Hopatcong, where homeowners pay only 30 percent of their median monthly household income on their monthly mortgage and utility bills," according to NerdWallet.

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"The city, located just over 50 miles west of Manhattan, has a 92.2 percent homeownership rate, the second highest on our list. Residents here enjoy activities at Lake Hopatcong, including the annual Hopatcong Days and Lake Hopatcong Grand Prix."

What do you think about Hopatcong's top-10 ranking? Tell us in the comments.


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