HIGH RENT DEMAND in Morris or Essex Counties in NJ (Orange: for sale, real estate)

[meilyn]

My husband and I are looking for a Multi-Family in Morris or Essex Counties. However, we are not sure what SPECIFIC areas in those counties have HIGH demand for rent. Is there a website I can go to find this info. We're both fairly new in New Jersey so we are not familiar with the place. This will be our first real estate investment. We plan on occupying one unit and renting out the other. Any response or idea is appreciated. Thanks!

[JamesBoyer]

Originally Posted by meilyn

My husband and I are looking for a Multi-Family in Morris or Essex Counties. However, we are not sure what SPECIFIC areas in those counties have HIGH demand for rent. Is there a website I can go to find this info. We're both fairly new in New Jersey so we are not familiar with the place. This will be our first real estate investment. We plan on occupying one unit and renting out the other. Any response or idea is appreciated. Thanks!

The highest demand towns are those which have actual train stations.

South Orange is the closest in you will want to be on the Morristown line.

So here is your list:

South Orange
Maplewood
Millburn (Short Hills)
Summit
New Providence
Chatham
Madison
Morris Twp.
Morristown

South Orange & Maplewood are going to be highly dependent on where in the town the property is, as far as how desireable and what sort of rent you will be able to get.

Morristown and Morris Twp. are likely to be lower end for you as well.

James Boyer

[tpajewski]

I know of a multi-family unit for sale in Rockaway. It does need a little work but if you have the time and funds to do it, it may be worth it. It is in area where a lot of people are renting.