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2019 Monmouth County Profile Report

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2019 Monmouth County Profile Report MONMOUTH COUNTY 2019 PROFILE PREPARED BY MONMOUTH COUNTY DIVISION OF PLANNING Monmouth County 2019 Profile June 2019 MONMOUTH COUNTY BOARD OF CHOSEN FREEHOLDERS Thomas A. Arnone, Director Patrick Impreveduto, Deputy Director Lillian G. Burry Gerry P. Scharfenberger, Ph.D. Susan M. Kiley MONMOUTH COUNTY PLANNING BOARD Members James Giannell, Chairman Paul Kiernan Jr., Vice-Chairman Charles Casagrande Jennifer DiLorenzo Nancy Grbelja Marcy McMullen Lillian G. Burry, Freeholder Gerry P. Scharfenberger, Ph.D., Freeholder Joseph M. Ettore, PE, County Engineer Alternate Members Patrick Impreveduto, Deputy Director, Freeholder Alternate James C. Schatzle, Citizen Alternate No. 1 John Mele, Citizen Alternate No. 2 Ming Kao, PE, PP, Alternate for County Engineer CONTRIBUTING STAFF Project Manager and Primary Author Steven daCosta, AICP, Senior Planner, Division of Planning CONTRIBUTING AUTHORS Laura Kirby, AICP, Assistant Community Development Director, Division of Planning Bridget Neary, Assistant Planner, Division of Planning EDITORS Joe Barris, PP, AICP, CFM Assistant Planning Director TABLE OF CONTENTS Monmouth County 2019 Profile INTRODUCTION ....................................................................................................................... 1 LOCATION ................................................................................................................................ 1 1) DEMOGRAPHICS .......................................................................................................... 2 a) Population .......................................................................................................... 2 b) Population Density ............................................................................................. 5 c) In-Migration/Out-Migration .............................................................................. 7 d) Age Composition ................................................................................................ 15 e) Public School Enrollments .................................................................................. 18 f) Race & Ethnicity ................................................................................................. 19 2) HOUSEHOLDS …………………………………………………………………………………………………………. 22 3) EDUCATION & INCOME ............................................................................................... 24 a) Education ........................................................................................................... 24 b) Income ............................................................................................................... 25 c) Sources of Income .............................................................................................. 25 d) Unemployment .................................................................................................. 27 e) Journey to Work ................................................................................................. 27 4) RATABLE DISTRIBUTION ................................................................................................ 31 5) HOUSING ....................................................................................................................... 32 a) Housing Units ..................................................................................................... 32 b) Residential Market ............................................................................................. 38 c) New Residential Construction ........................................................................... 39 6) NON-RESIDENTIAL CONSTRUCTION ............................................................................. 40 a) Proposed Non-Residential Development ........................................................... 40 b) Retail Space ........................................................................................................ 43 c) Office Market ..................................................................................................... 48 d) Industrial Space .................................................................................................. 51 7) FACILITIES & INFRASTRUCTURE ................................................................................... 53 a) Transportation ................................................................................................... 53 b) Roads, Bridges, and County Facilities………………………………………………………………. 58 c) Gray Infrastructure ............................................................................................ 59 d) Green Infrastructure .......................................................................................... 60 e) Educational Facilities .......................................................................................... 61 8) ECONOMY .................................................................................................................... 62 a) Regional Business Outlook ................................................................................. 62 b) Major Employers ................................................................................................ 78 c) Major Taxpayers ................................................................................................ 78 d) Redevelopment Initiatives ................................................................................. 79 e) County Programs and Initiatives …………............................................................. 87 GLOSSERY OF TERMS ............................................................................................................... 94 Monmouth County Profile 2019 1 INTRODUCTION The Monmouth County Division of Planning creates, maintains, and updates a number of annual planning reports for public use. In creating the Monmouth County Profile Report, the Division of Planning provides decision makers and the public with meaningful knowledge and understanding about the complex planning issues facing Monmouth County. This annual profile serves as a comprehensive demographic and economic review of Monmouth County. Preparation of this report involves collection and analysis of data from various sources, including U.S. Census Bureau, N.J. Department of Labor, Bureau of Labor Statistics, Bureau of Economic Analysis, and others. This document seeks to showcase the County’s latest demographic trends and economic initiatives involving both the public and private sectors. The Monmouth County Master Plan recognizes the Monmouth County Profile Report as one of numerous consultative and supportive documents that should be referred to alongside the Master Plan during policy formation and program development. LOCATION Monmouth County, with a total land area of 472 square miles and 193 square miles of water bodies, ranks as the 6th largest county in New Jersey. The County is situated along the Atlantic Seaboard between New York City and Philadelphia, centrally located within the Boston to Washington D.C. regional corridor. The county is home to fifty-three municipalities, ranging in size from 0.1 square miles (Shrewsbury Township) to 62.1 square miles (Howell). Overall population density is approximately 1,330 people per square mile with town populations ranging from 190 (Loch Arbour) to 66,291 people (Middletown). Most of the population lives within five miles of either the Raritan Bay shoreline or Atlantic Ocean coastline. The County Seat is Freehold Borough, which is located in central Monmouth County at the convergence of U.S. Highway 9, State Route 33, and County Route 537. Monmouth County’s ideal seaside setting, midway between two of the nation’s largest metropolitan areas, provides the perfect location for city bound commuters as well as close getaway destinations for urbanites seeking refuge to the country or the world famous Jersey Shore. Monmouth County Division of Planning June 2019 Monmouth County Profile 2019 2 Monmouth County Municipalities 1) DEMOGRAPHICS a) Population Prior to World War II, Monmouth County was predominately rural with over 50% of its land area devoted to farming. After the war ended the population surged and by 1950 the County had added over 64,000 residents to the 1940 total of 161,238 people. The 1954 opening of the Garden State Parkway brought expanded residential and economic development opportunities along with improved access to regional employment centers. The post-war baby boom, suburban migration, and the in-migration of major employers drove population growth for the next two decades, adding over 236,000 residents by 1970; more than doubling the County’s population. Almost 50% of Monmouth’s population growth during the post-war suburbanization period (1945-1974) occurred within municipalities adjacent to the Garden State Parkway (Economic Profile of Monmouth County, 1980). In subsequent decades, the County’s population growth slowed to a more sustainable rate, averaging 51,000 per decade, reaching 615,301 by the year 2000. Monmouth County Division of Planning June 2019 Monmouth County Profile 2019 3 During the 1980’s the widening of Route 9 spurred both residential and economic growth in the western part of the County. Between 1990 and 2000, 51.2% of the County’s total population growth occurred within four Western Monmouth municipalities: Howell (16%), Marlboro (14%), Freehold Township (11%) and Manalapan (11%). While capturing a majority of the County’s population growth, these four municipalities make up
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