Data shows a snapshot of West Milford current economy


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By Julie Boyd Cole

The following is of economic data about West Milford collected in June:

Real EstateAccording to the New Jersey Realtor's home report for March, the median price for a single family home in West Milford was $209,500, which is a 12 percent drop over March of last year.

Supply of single family homes was down by 11 percent. There were 216 single family homes for sale in March of 2017 and 192 homes for sale in March of 2018.

Zillow.com reported there were 248 homes listed in the first week of June in 2018. There were 15 condos/townhouses listed on Zillow, 33 lots for sale, 63 foreclosures and 9 homes for rent.

Zillow price rangesIn June, prices for properties listed on Zillow were:

Single family homes: $29,500-$1,175,000

Condos/townhouses: $117,500-$314,000

Lots: $8,500-$300,000

Rentals: $1,300-$3,335 per month

According to the U.S. Census Bureau, the average home price in West Milford is $288,800.

Jobs and incomeIn the first week of June, there were 91 full-time jobs listed on indeed.com within 5 miles of West Milford.

Of those jobs, 64 were full-time position and 14 paid more than $40,000. The rest were part-time, commission-based, contract work or temporary jobs. Most paid between $20,000 and $40,000 annually.

A sample of companies that had positions listed were Dunkin' Donuts, Care.com, Rainbow International, Bellwether Behavior Health and the U.S. Postal Service.

According to the U.S. Census Bureau, the latest numbers reported for West Milford show the median household income is $101,767 and the median per capita income is $40,721.

Based on affordability calculators, the median household income can afford the median home price in West Milford.

PopulationAccording to the U.S. Census Bureau, there has been a slight growth in population in West Milford of about 2 percent for a total estimated population of 26,856. There are 9,296 households, 27 percent of the population is under 18 years old and 15 percent are over 65.

There are an estimated 1,567 veterans living in West Milford.



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