So, why Ridgewood of all places in the U.S.? Because its zip code of 07450 showed up as number three on Realtor.com’s “Hottest Zip Codes of 2023” (Realtor.com is our partner site). This list of the top 10 hottest zip codes shows where homebuyers find value in the vicinity of high-priced metros. And, in case you’re wondering, number one is Gahanna, OH, and number two is Southington, CT.
What Are Realtor.com’s Hottest Zip Codes of 2023?
These hot zips offer a considerable bang for your buck with larger-than-average homes at lower-than-average prices. This alone makes moving to cities, like Ridgewood, NJ, worth it for some. According to Niche, Ridgewood is the number two best suburb to live in New Jersey (after Ho-Ho-Kus). Ridgewood gets an overall grade of A+, with the highest marks for public schools, nightlife, and family-friendliness.
Typically, wherever you decide where to live, you’re looking for a place that fits your personality, life circumstances, preferences, and interests. Factors to consider before moving include the cost of living, real estate markets, things to do in that area, and so much more. These are the criteria we’ve used to look at Ridgewood, NJ, and the other cities featured on Realtor.com’s Hottest Zip Codes of 2023.
What Are the Pros of Living in Ridgewood, NJ?
There are so many things to love about Ridgewood, NJ. It’s consistently rated as one of the best places to live in New Jersey. As a resident of Ridgewood, you’ll enjoy a family-friendly suburban feel, a safe environment with a low crime rate, a historic downtown area, a quick commute to New York City and the neighboring cities and towns, access to top-notch restaurants, bars, cafes, parks, and shops, highly rated schools, and the surrounding natural beauty.
Here’s some information on where Ridgewood is located and how big it is. Ridgewood is an almost-six-square-mile village in northeastern Bergen County, New Jersey, located approximately 20 miles northwest of Midtown Manhattan.
The land was originally inhabited by the Lenni Lenape Native Americans, then by the Dutch settlers who started building their homes in the area in the 1700s. When the railroad was built, the place became a popular summer recreation destination, where wealthy New Yorkers built their estates. Many became year-round residents. Today’s Ridgewood is home to a thriving culinary scene, a top-rated school system, a hospital, several stunning parks, many historic homes, and more.
Ridgewood’s neighborhoods include downtown (or, simply, “Town”), centered on East Ridgewood Avenue and home to several historic buildings, Scrabbletown, the Old Country Club, Upper Ridgewood, Salem Ridge, Floral Park, and The Lawns. There’s also an area called The View, located on and to the west of Ridgewood’s highest point, an unnamed ridge known for its skyline views of New York City.
Ridgewood has a population of only 26,168, according to the latest available U.S. Census data (as of July 2022).
Do you think that moving to Ridgewood, NJ, is in the cards for you? Then, here is a rundown of what you need to know before moving.
The Cost of Living in Ridgewood, NJ
The cost of living in Ridgewood is high. At 177, it’s 77% higher than the national average and 56% higher than the state’s cost of living of 121. This is determined by comparing the cost of living in Ridgewood to the costs of living in other cities around the United States. If a city’s index score is higher than 100%, then the cost of living is above average. When the index score is lower than 100, you’ll find a below-average cost of living.
Goods and services, groceries, transportation, and utilities are all higher in Ridgewood than the national average. The housing costs are 337%, compared to the national average of 100%. The only cost that is lower than the national average is healthcare (97%).
The Job Market in Ridgewood, NJ
Ridgewood’s economy is pretty robust, with an unemployment rate of 5.5%. (The U.S. average is 6.0%.) Ridgewood has seen the job market decrease by 0.5% over the last year. Future job growth over the next 10 years is predicted to be 25.9%, which is lower than the U.S. average of 33.5%. Some of the best places to work at in Ridgewood, NJ, include the Valley Hospital, the school system, the locally based law and architectural firms, and Digital Convergence Technologies. Ridgewood’s many residents commute to other cities for work, however.
Salaries in Ridgewood, NJ
The median household income for Ridgewood is $194,256. It’s higher than the median household income for New Jersey ($83,572) and higher than the national median household income of $70,784 (all 2021 numbers, the latest available).
The median salary in Ridgewood works out to be approximately $79,000. The state’s minimum wage rate is $14.13, which is higher than the federal rate of $7.25 per hour.
Buying a Home in Ridgewood, NJ
Housing in Ridgewood, NJ, can set you back a cool mil or two. In August 2023, the median listing home price for Ridgewood was $1,002,000, trending up 20.7% year-over-year. There were 26 active listings, with 28 median days on the market. The median listing home price per square foot was $475. Currently, Ridgewood home prices fall within the range of $499,000 and up to two million.
Renting a Home in Ridgewood, NJ
There are more rentals than properties for sale in Ridgewood. Last time we checked, there were 31 apartments and houses for rent. Realtor.com lists the average rental price as $3,200 per month. This cost is considerably higher than the median asking monthly rent of $1,759. According to Realtor.com, as of August 2023, the studio rental cost was $1,445 per month, and a one-bedroom was $1,642.
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The Ridgewood Public School District has several highly rated schools, including Ridgewood High School and Bergen County Academies. Niche rated Ridgewood as number five on the list of best public schools in New Jersey. This alone is a big draw for families to want to live in Ridgewood.
There are 25 schools in total, including private schools. GreatSchools rates Ridgewood’s public schools in a high range of 9 and 10 out of 10. The GreatSchools rating is based on a variety of school quality indicators, including test scores, college readiness, and equity data. Niche.com gives Ridgewood an A+ grade.
To find top-rated schools in Ridgewood, NJ, you can use Moversnearyou.info’s School Ratings Tool, which features GreatSchools ratings and other helpful information.
There are over 180 colleges and universities within 50 miles of Ridgewood, the closest one being Bergen Community College in Paramus, NJ. One of the top-rated universities close by is Columbia University in New York City. Also in New York City is the largest university in the area, New York University.
The Taxes in Ridgewood, NJ
The minimum combined 2023 sales tax rate for Ridgewood, New Jersey, is 6.63%. This is the total of state, county and city sales tax rates. The New Jersey sales tax rate is currently 6.625%. The County sales tax rate is 0%. The Ridgewood sales tax rate is 0%.
The average property tax is 2.73%, which is higher than the state’s 2.52%. Both are higher than the average property tax rate in the United States, which is 1.1%.
Getting Around in Ridgewood, NJ
Ridgewood, NJ, gets a low walk score of 42, which is considered “a car-dependent city.” This means that most errands require a car. The bike score is a low 41, meaning Ridgewood doesn’t have many bike lanes and minimal bike infrastructure in general.
Public transit options include 13 bus routes and two rail lines. The transit score is also on the low side at 43.
As for the average one-way commute, it is 38.5 minutes in Ridgewood, which is longer than the national average of 26.8. Residents predominantly drive to work, but a fair number take a train. There is no direct train from Ridgewood to Manhattan, NY, so most people commuting to New York City take the NJ Transit to Secaucus and then take the train to Penn Station. Another option is by bus from Ridgewood straight to Manhattan.
The Weather in Ridgewood, NJ
In Ridgewood, NJ, the summers are warm, humid, and wet; the winters are very cold and snowy; and it is partly cloudy year round. Over the course of the year, the temperature typically varies from 23°F to 85°F and is rarely below 9°F or above 93°F. The best time to visit for warm-weather activities is from mid-June to late September.
Things to Do in Ridgewood, NJ
Though small, Ridgewood has abundant amenities that are especially well-suited for families. This includes numerous parks with playgrounds, picnic areas, concert stages, fields for soccer, baseball and softball, and hiking trails.
For example, Graydon Park also has a roller rink and a pool while Veterans Field, located next to the library and police station, has four baseball and softball fields and hosts home games for the Ridgewood High School baseball team. The hill in Citizens Park is used for sledding in the winter, and Ridgewood Wild Duck Pond, which is part of Bergen’s Saddle River County Park, has a pond that’s used for fishing and ice-skating, a fenced-in dog park, a six-mile bike path, and more. Saddle River County Park is a sprawling space that contains five parks within it. As you can imagine, amenities abound.
Ridgewood’s notable attractions include the James Rose Center, a non-profit landscape architecture and community center with beautiful gardens, Schoolhouse Museum (built in 1872 as a one-room schoolhouse), and several art galleries (The Stable and the Convey Art Gallery, in particular, have many positive reviews).
Not surprisingly, Ridgewood enjoys a thriving culinary scene. Most restaurants, cafes, bakeries, and bars are clustered downtown, but you’ll find some elsewhere, just not in high concentration. From high-end Italian to tapas, ramen, sushi, and pub grub — you can easily find it all in Ridgewood. Some non-so-hidden jems include the “seed-to-cup” Ray Sol Coffee Roasters, the family-owned La Lanterna Café and Grill, Steel Wheel Tavern, which features a large patio and live music, the fine-dining Café 37, Sook Pastry bakery, and Cravings Tapas Bistro — just to name a few.
And, of course, Ridgewood is not without its annual celebrations. In addition to seasonal events like the 4th of July downtown parade, Ridgewood hosts a local music fest and the Ridgewood Guild International Film Festival.
FAQs About Moving to Ridgewood, NJ
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