realestate

New Jersey Real Estate Outlook 2025: A Comprehensive Guide

Governor Phil Murphy Celebrates New Jersey's Population Growth Rate in 2025

N
ew Jersey's population growth continues to soar, with an estimated 9,500,851 residents as of 2025, a 1.3% increase from 2023, according to the U.S. Census Bureau. This marks the state's largest population gain in recent years, with Governor Phil Murphy hailing it as a testament to his administration's efforts to support workers and build a stronger New Jersey.

    Since April 2020, the state has seen a 2.3% increase in population, adding 211,837 new residents. Murphy proudly notes that New Jersey is among the top 10 states for population growth, with its largest number of jobs and employers on record. However, not everyone shares his enthusiasm, citing concerns about the strain on state resources.

    A 2023 report from the U.S. Environmental Protection Agency estimated that New Jersey will need $31.6 billion for water infrastructure improvements over the next 20 years, highlighting the challenges posed by the growing population. As the state's development expands, questions arise about who will benefit and what the future holds for its residents.

    The Building Trades Council has long emphasized its core mission: building. President William "Bill" Mullen reminds members that their focus should remain on construction, rather than getting sidetracked by external issues. As New Jersey's infrastructure and development continue to evolve, key players are emerging to shape the state's future.

New Jersey real estate market forecast and trends for 2025, comprehensive guide.