Camden, New Jersey
COMPREHENSIVE HOUSING MARKET ANALYSIS Camden, New Jersey U.S. Department of Housing and Urban Development Office of Policy Development and Research As of August 1, 2014 Bucks Mercer Montgomery Monmouth Pennsylvania Housing Market Area Chester New Jersey Ocean Delaware Philadelphia The Camden Housing Market Area (HMA) is coter minous with the Camden, NJ Metropolitan Division. Burlington Pennsylvania For purposes of this analysis, the threecounty HMA Camden is divided into three submarkets: Burlington County; Delaware Gloucester Camden County, which includes the central city of New Castle Camden; and Gloucester County. The HMA includes Salem Atlantic portions of the Joint Base McGuireDixLakehurst (Joint Base), which contains facilities for the U.S. Great Bay Delaware Bay Cumberland Air Force, U.S. Army, and U.S. Navy. Summary Economy annual rate of 0.6 percent during the for 4,075 new homes in the HMA next 3 years. Table DP1 at the end (Table 1). The 410 units currently The economy of the Camden HMA, of this report provides employment under construction and a portion of which accounts for approximately data for the HMA. the 13,800 other vacant units in the 12 percent of all jobs in New Jersey, HMA that may reenter the market weakened after expanding during Sales Market will satisfy a portion of the forecast 2012. During the 12 months ending demand. July 2014, nonfarm payrolls declined The sales housing market in the HMA is slightly soft but improving, with an by 1,900 jobs, or 0.4 percent, to an Rental Market average of 505,800 jobs compared estimated vacancy rate of 1.4 percent, with an increase of 6,450 jobs, or down from 1.6 percent in 2010.
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