Have you made up your mind to start your own business rather than continue working for others? If that is the case, New Jersey is unquestionably one of the best states for it. It offers a lot of options for business. Additionally, it is the state in the USA with the highest population density. Due to the high number of individuals choosing to settle permanently in New Jersey, NJ movers are quite busy. You can use this to your advantage since you will have a lot of potential customers. However, how do you choose the location for your new home and business? Which New Jersey cities are the best for startups? Here are all the top places in NJ for startups.
Why should you choose NJ for your startup?
The state of New Jersey makes a lot of effort to support those who are starting their own businesses. As a result, it has established a sizable fund for that goal, making it among the greatest locations for startups. In order to start your business here, hire NJ commercial relocation services. However, it’s not simple to choose only one among all the top places in NJ for startups. You may launch your own firm in a number of cities and cross your fingers. But what distinguishes the top New Jersey cities for startups? Here are all the points.
- average annual business revenue
- a big population expansion
- annual retail sales
- percentage of companies using paid staff
- a high percentage of homeowners
- business density in relation to population
- the lowest unemployment rates
Hackensack is the first city you should consider
You will find the first city in Bergen County and that is Hackensack. It shows a roughly 4% population rise over the past five years, which is rather significant. Overall, it has a population of almost 45,000 people. Midtown Manhattan is almost 12 miles away, while the George Washington Bridge is around 7 miles away. This city is renowned for its many diverse neighborhoods. Additionally, the average revenue per company is higher than the national average. The median home value is $305,700. On the other hand, if you want to rent, the median rent is $1,500. Lastly, the median household income is $71,000. If you are interested in this city, you should start thinking about organizing your relocation as well. Make sure to get moving quotes NJ on time. You should compare moving quotes from three to five companies in order to find the most affordable one.
Morristown is also one of the best places in NJ for startups
Morristown is extremely well known as one of the best cities for startups because there are roughly 2,700 enterprises there. The average annual revenue per company is around $1.7 million. In addition to this, you can also classify Morristown as a suburb of NYC. It has a population of 19,000 people. The median home value is $480,100 which is quite expensive considering that the national average is $230,800. On the other hand, the median rental price is $1,950 which again is much higher than the national average of $1,095. However, the median household income is $111,150. It is pretty high considering that the national average is only $64,990. If you plan to move here, find a reliable moving company and hire their moving services NJ on time. It is important to organize your relocation properly as well. There is no reason to start your life in Morristown on a negative note.
Another small town good for startups is Moorestown
The small town of Moorestown is located in Burlington County. Additionally, it is a Philadelphia suburb to the east. Moorestown is also the best place to live in Burlington County. This is a good enough reason to hire movers and packing services NJ. Furthermore, the city sees significant growth in population. It was 9% in the last ten years but before that 18% for twenty years. Currently, the city has around 20,475 residents. The average yearly revenue per firm is close to $3.8 million. However, the median home value is $515,500 which is quite expensive. The average rent is around $1,250. The median household income is $156,150. Because Moorestown is close to both the city and the ocean, there are countless things to do. Moorestown has a very high level of community involvement, particularly in sports, and it is highly safe for kids.
You should give a chance to Edgewater
Another city that can be considered a suburb of NYC is Edgewater. It has around 12,990 residents. Furthermore, Edgewater is the fifth best place to live in Bergen County. The median home value is $618,500 which is extremely high. This is due to its proximity to NYC. On the other hand, the median rent is around $2,500. This all might seem expensive but the median household income is also quite high, around $130,500. It does not come as a surprise that Edgewater is popular among young professionals, especially for startups. All in all, Edgewater is a stunning city. You get to experience the stunning views of New York while living close to the Hudson River. It is a highly safe location. It boasts top-notch restaurants, shops, and schools. You can start your business here as well after moving here with the movers Edgewater NJ has to offer.
Chatham is also popular among young professionals
The third best place in Morrison County is Chatham. This city can be also considered a suburb of NYC. It has a population of 8,750 residents. The median home value is the highest so far, $808,900. However, this does not affect the real estate market. More than 82% of residents are owning their houses. On the other hand, the average rental price is around $1,850. Even though the median home value is high, the median household income follows the same trend. It is more than $202,000. Chatham offers many employment chances as well. One of the top educational districts in the entire state is the Chatham school system. However, Chatham also lacks diversity and housing options for low-income families. Nevertheless, Chatham is constructing and building a ton of affordable homes. For this reason, hire movers Chatham NJ on time and schedule your relocation.
Livingston can also be an option
Livingston is the third best place in Essex County. There are 30,059 people living in the New York City suburb of Livingston Township. The city provides people with a sparse suburban vibe, and the majority of locals are house owners. The median home value is $625,000. On the other hand, the average rent is $2,500. The median household income is $169,120. Residents of the town place a high value on education, and the district’s schools routinely rank among the best. The community facilities provided include two parks-like pools and a first-rate leisure program. High emergency services contribute to the area’s excellent safety. Don’t forget to hire one of the movers Livingston NJ has to help you out with your relocation. One of the main reasons why many young professionals are moving here would be the proximity to NYC. You can attract more customers this way.
Florham Park and Paramus
Florham Park has had 30% population growth over the last ten years. The New York Jets football team calls it home. Around 1,800 enterprises are present currently. Additionally, each firm generates an average yearly income of $3.1 million. The median home value is $615,500 while the median rent is $2,500. The median household income is $120,200. On the other hand, Paramus is around 8 miles from Upper Manhattan and 20 miles from Midtown Manhattan. With yearly retail sales of more than $5 billion, it is one of the biggest shopping areas in the nation. This place generates the most retail income than cities like Beverly Hills and Soho. It also has lower taxes than some other cities in Bergen County. The median home value is $615,000 while the average rent is $2,500. Furthermore, the median household income is $130,300.
Eatontown and Secaucus
Eatontown is also among the best places in NJ for startups. 1 600 or so companies and startups are there. As a result, it achieves an average yearly revenue per firm of $3.2 million. The citizens of this town have many benefits in terms of employment and education. The median home value is $350,700 while the average rent is $1,250. The median household income is $79,500. On the other hand, Secaucus has a number of sizable retail spaces. In the last five years, the town’s population has increased by 14%. Additionally, it has a lot of businesses in comparison to its population. A large number of companies (35%) have paid staff. The median home value is $475,600 while the average rent is $1,905. Furthermore, the average household income is $125,150.
Hanover and Red Bank
Hanover is close to the Morristown Municipal Airport and located north of Morristown. There are many significant businesses in this township. The average yearly revenue per company is $4.86 million. The median home value is $520,100 while the average rent is $2,500. In addition to this, the median household income is $125,750. On the other hand, The Navesink River, which is the region’s primary means of access to the ocean and other ports, runs through the borough of Red Bank. The city is home to a wide variety of enterprises, including those in the entertainment, retail, medical, and hotel industries. The average yearly revenue per company is $6.75 million. The median home value is $405,100 while the average rent is $1,650. Furthermore, the median household income is $79,950.
East Hanover is one of the best places in NJ for startups
One of New Jersey’s tiniest towns is East Hanover. However, it has a well-developed business plan. It is one of the top places in NJ for startups for a reason. It is because there are 1,500 enterprises there. As a result, it has the highest proportion of enterprises to its people. The businesses Nabisco and Novartis are the most well-known in the area. The median home value is $599,100. However, almost 95% of residents are homeowners. On the other hand, the other 5% rent their house for the average price of $2,600. The median household income is $128,950.The neighborhood is pleasant, kind, close-knit, and so on. This town gives off the impression that anybody can fit in. It has near proximity to shops and public amenities. Although the cost of housing is often higher it is nevertheless reasonable than in many nearby towns.
Newark is the last city on the list
The city of Newark doesn’t have the best ranking when it comes to housing or public schools. However, it is the biggest city in New Jersey with more than 285,000 residents. As you might know, you will need clients when you want to start your own business. The median home value is $255,000 which is not high when compared to other places on this list. However, the price will depend on the location in the city. More than 77% of the people are renting their place. The median rent is $1,150. The biggest problem with Newark is the median household income is less than the national average of $38,500. Since your plan is to start your own business, you can dictate your own working conditions. In any case, if you have a good idea and enough patience, you can try your hand at startups.
How to choose your new city?
You probably know that decisions like those might be challenging. Don’t solely rely on this list, though. Consider looking for more. Discover the other cities as well as the ones on this list. The ideal location in New Jersey for your company solely depends on you and your goals. After all, you may start with this list of the best places in NJ for startups. There are some great choices listed here. However, when before deciding on one city, you should see if your business idea will have an audience in a certain city. If not, it might be difficult to properly and successfully develop your company. For this reason, make sure to consider every aspect of the business market, prices, and so on before making your final decision.