A new luxury apartment building by JMF Properties is nearing completion in Morris Plains, where plans call for 125 units and a new connection to the borough’s downtown.
Residential & Mixed Use
The construction boom in New Jersey is no more evident than in the multifamily and mixed-use sector, thanks to changing demographics and the demand for urban-style living, even in the suburbs.
Indicators for the future of the New Jersey rental market
Inflation has cemented itself as the main concern for Americans over the past year and for good reason. The United States has seen costs rise across every single sector, but few have grown faster than housing. The state of New Jersey holds the distinction of having the sixth-highest rents in the nation and has seen an astronomical rise in those rents with annual growth rates peaking at nearly 33 percent in May of 2022.
