Introduction
Prior to and after Superstorm Sandy, the Jersey Shore trend was toward a smaller housing units percentage and higher home values. The small housing units’ percentage occupied across the year, an ever-snowballing presence of pensioners among year-round residents, and the increasing usage of
Jersey Shore moving and storage services have been the trend almost fifteen years down the line. Is the shore becoming a moving and storage destination for the rich?
Almost on Superstorm Sandy’s 15
th anniversary, this latest update takes the initiative to examine a big, looming question closely. How has Jersey Shore changed, in terms of the seasonal nature vs the year-round populations, housing stocks, moving, and storage in the wake of such a huge flooding event? This update explores destinations that function as vacation rentals or second homes which are dependent on seasonal visitors instead of year-round towns, which face a unique set of issues.
While the Differential is Getting More Conspicuous Over Time, Home Moving and Storage Values in Jersey Shore are Expectedly High
The values in Jersey Shore in terms of home moving and storage aren’t just high. They’re considerably higher compared to the state average municipality’s average value. Among 28 destinations with average home values that stretched beyond the median municipal value, 25 of them recorded average values more than double the average worth in the median municipality.
That means home moving and storage have been increasing in the past years since the occurrence of Superstorm Sandy, and that's why PODS moving and storage containers have been increasing among relocating individuals.
Direct Access to the Ocean Seems to be Fueling Home Moving and Storage Values
Most of the current Jersey Shore areas, where the average residential value of the previous years isn’t higher compared to the medium municipality's, tend to have substantial inland territory.
In simple terms, most of the lower-value areas are places where few, if any, homes, moving, and storage facilities are within a shorter distance of the ocean itself. Individuals who move, store their stuff and stay down the shore still drive to the real beach.
Year-round Populations Have Trended Downward Even as the Housing Units Percentage Occupied Seasonally After Moving Has Trended Upward
Out of the 51 Jersey Shore areas, the number of year-round households has decreased by 2.60% from the year that Superstorm Sandy occurred despite the number of households statewide increasing by approximately 3.0%.
More than two-thirds (36) of the 51 areas experienced absolute reductions in the number of households and storage. An additional five increased slowly compared to the state. Many of the 10 areas in which the number of households and storage containers increased quickly compared to the statewide rate among those with inland territory. Also, in these areas, the home and storage unit values tended to be lower, and where population increase isn’t occurring in the oceanfront areas.
Increasing moving, storage, and residential values, a rising share of housing units and storage containers being occupied seasonally, and the growing presence of individuals age 65+ among year-round residents tip the odds to Jersey Shore areas becoming increasingly off-limits for year-round residence for all but wealthy pensioners. But will the working class and youths start joining them and increase the use of Jersey Shore moving and storage containers? This is a question that needs time to get a solution.
