New Jersey
This trend made North Jersey the third most competitive rental market in the nation
![This trend made North Jersey the third most competitive rental market in the nation This trend made North Jersey the third most competitive rental market in the nation](https://www.gannett-cdn.com/presto/2021/03/04/PNJM/7d0d5e5c-4239-44a1-8851-dc153cb680eb-Two_Willow.jpg?auto=webp&crop=4031,2268,x0,y604&format=pjpg&width=1200)
Renting your first apartment? 5 things you should know: Video
Make sure you know what to expect before you sign your lease.
With 13 prospective renters competing for every vacant apartment in North Jersey, the area continues to have one of the most competitive rental markets in the nation halfway through 2024.
RentCafe, in its recent Hottest Rental Markets report, named North Jersey as the third most competitive rental market in the nation, a title the region has held since the start of 2024. The area had been the hottest renting spot in the nation at the start of 2023, but finished off the year as the second.
North Jersey — including Bergen, Passaic, Morris, Essex, Sussex, Hudson and Union counties in the report — ranks just behind No. 1 Miami-Dade County and No. 2 Suburban Chicago.
What is the rental market like in North Jersey, and the Northeast?
With a Rental Competitive Index score of 82.3, North Jersey continues to have the hottest real estate market in the Northeast.
Of all of the apartments in North Jersey, only 0.60% of them are new. And North Jersey has one of the highest occupancy rates in the nation at 96%. The region also has a significant lease renewal rate of 71.7%, and apartments here typically remain vacant for about 43 days.
The report credits a trend known as “hipsturbia” for the consistent rental demand seen throughout North Jersey. The term refers to the phenomenon of younger generations, particularly millennials, flocking to live in areas with suburban charm and urban amenities after being priced out of larger cities.
“Hipsturbia is alive and well in small cities scattered across northern New Jersey — such as Hoboken, Jersey City, Newark, Union City, Passaic, Maplewood and Montclair — where renters (including millennials) enjoy walkable downtowns, just enough entertainment and relatively easy access to New York City,” the report said.
The report said this trend also contributed to the 10th place ranking of suburban Philadelphia and the 14th place ranking of Brooklyn, where hipsturbia is king. Also from the Northeast, Bridgeport-New Haven, Connecticut; and Central Jersey made the list, ranking 11th and 17th, respectively.
How has rental competitive changed across the nation?
Overall, the state of the nation’s rental market in 2024 has remained relatively the same from 2023.
Across the country, there are about eight prospective renters competing for every vacant apartment. Rentals have remained vacant for about 46 days, compared to 43 days in 2023, and new apartments still make up 0.61% of all available rentals across the nation.
Additionally, 62.% of renters renewed their leases in 2024, compared to 59.7% in 2023. And about 93.3% of apartments across the nation are occupied, compared to 94% in 2023.
Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.com.
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New Jersey
On June 1, electricity bills for most New Jersey residents will go up
![On June 1, electricity bills for most New Jersey residents will go up On June 1, electricity bills for most New Jersey residents will go up](https://whyy.org/wp-content/uploads/2023/03/electricity-utility-meter-ap-2023-03-15.jpg)
From Camden and Cherry Hill to Trenton and the Jersey Shore, what about life in New Jersey do you want WHYY News to cover? Let us know.
Most New Jersey residents will spend more on electricity starting June 1. The state’s annual electricity auction for basic generation service, or BGS, is driving the uptick. According to the New Jersey Board of Public Utilities, electric bills for most residents and small to medium-sized businesses served by the four electric distribution companies will increase on an average by at least $20.
Why is there an auction?
Per state law, electric companies are required to buy at market rate the energy they need to serve customers, who do not switch to a third-party supplier.
The companies submit proposals on how they will buy electricity through the auction. Unlike the online marketplace eBay, the prices at the auction start high and decrease with each bid until suppliers are no longer willing to offer a lower bid at which they can provide adequate service.
The cost decided at auction is sent directly to ratepayers.
Who is PJM Interconnection and how much of a factor are they?
PJM Interconnection is a regional transmission organization, or RTO, that coordinates the movement of electricity in 13 states and the District of Columbia. They are also charged with maintaining the electrical grid.
The grid operator held a capacity auction last July that saw record totals, which BPU President Christine Guhl-Sadovy said was the main driver behind the auction results.
“[The] results are the culmination of several issues: rapidly increasing demand for electricity, coupled with limited supply growth due to lagging new generation interconnection, and flawed market dynamics in the PJM region,” she said.
New Jersey
These NJ grocery stores are making it harder to buy eggs; see why
Egg prices soar in the US due to bird flu outbreak
Shoppers in the U.S. are seeing egg prices soar and purchase limits imposed due to a bird flu outbreak affecting supply.
Grocery stores across New Jersey are making it harder to snag extra eggs by enacting a purchase limit as a deadly outbreak of avian flu has caused a strain in supply, leaving grocery store shelves empty and driving up prices.
Walmart, Trader Joe’s and Costco, which have several locations across the Garden State, are the latest in a handful of retailers scrambling to keep eggs in stock while limiting purchases to curb customer hoarding.
Trader Joe’s is limiting egg purchases to one carton per customer, per day, to ensure shoppers who need eggs are able to purchase them when they shop, the grocery store said in a Monday statement to USA TODAY.
The egg crisis has been documented heavily on social media, with customers disheartened by empty shelves and skyrocketing prices. Here’s a list of the stores that are limiting their customers’ purchasing powers, or enacting slightly different rules.
Are there egg limits at Trader Joe’s?
Trader Joe’s is limiting egg purchases to one dozen per customer per day in all stores across the U.S., the grocer confirmed with USA TODAY.
Are there eggs limits at Costco?
Costco, which has over 20 locations in New Jersey, said it is limiting customers to three cartons of eggs per visit, aiming to prevent individuals from buying excessive amounts to ensure others have access to eggs, CNN reported. The store typically sells two- and four-dozen cartons.
Are there egg limits at Walmart?
Walmart said they are not imposing purchase limits nationally, except on 60-count cartons, which have been limited to two per purchase, a spokesperson for the retailer told USA TODAY on Tuesday.
Are there egg limits at Whole Foods?
Several media outlets including Tasting Table have reported Whole Foods is limiting customers to three cartons per customer.
Are there egg limits at Aldi?
Aldi, which has 63 locations in New Jersey, has not announced a company-wide policy regarding egg shortages, although egg availability appears to affect certain stores. For example, a customer turned to Reddit on Sunday to share a sign at the Aldi in Edison that limited customers to two cartons.
Why is there an egg shortage?
Eggs are becoming difficult to find due to the rise in highly pathogenic avian influenza, a strain of what is known as the bird flu. The strain has decimated the supply of egg-laying poultry since January 2022.
That, combined with factors including inflation, has directly impacted the average price of eggs. As of the end of January, the wholesale price of a large carton on eggs in the New York market rose to an average an average of $7.63 per dozen, according to the United States Department of Agriculture.
Lori Comstock is a New Jersey-based journalist with the Mid-Atlantic Connect Team.
New Jersey
Track school closings, delays in NY and NJ for Wednesday, Feb. 11
![Track school closings, delays in NY and NJ for Wednesday, Feb. 11 Track school closings, delays in NY and NJ for Wednesday, Feb. 11](https://images.foxtv.com/static.fox5ny.com/www.fox5ny.com/content/uploads/2024/01/1280/720/SCHOOL-CLOSINGS-WINTER.jpg?ve=1&tl=1)
How much snow NYC can expect tonight, tomorrow
Nick Gregory has the forecast.
NEW YORK – Schools across New York and New Jersey announced delayed openings for Wednesday morning as a winter storm is expected to bring 1 to 3 inches of snow to the Tri-State area.
JUMP TO: NEW YORK l NEW JERSEY
School closings and delays
New York
- Central Islip School District: 2 Hour Delay
- Deer Park School District: 2 Hour Delay
- East Islip School District: 2 Hour Delay
- Half Hollow Hills School Dist.: 2 Hour Delay
- Huntington School District: 2 Hour Delay
- Islip School District: 2 Hour Delay
- L.I. School For The Gifted: 2 Hour Delay
- Marlboro Central School District: 2 Hour Delay
- Wyandanch School District: 2 Hour Delay
New Jersey
- Barnegat Township School District: 2 Hour Delay
- Middletown Township School District: 2 Hour Delay
- Somerset Co. Educational Svcs. Comm. Sch. Dist.: 90 Minute Delay
- The Children’s Center Of Monmouth County: 2 Hour Delay
- Totowa School District: 1 Hour Delay
Track real-time closings and delays below:
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