GREATER TRENTON’S NEWLY RELEASED RESIDENTIAL MARKET STUDY REVEALS DEMAND FOR UP TO 1,270 HOUSING UNITS IN DOWNTOWN TRENTON
Younger Singles and Couples Make Up
the Largest Share of the Market for New Housing in Downtown Trenton
Greater Trenton’s 2023 Downtown Trenton residential market study, in sponsorship with Wells Fargo and New Jersey Realtors Association, shows the market potential and optimum market position for newly-introduced housing units in Downtown Trenton. The study determined that the updated potential market in the Greater Downtown Trenton Study Area is a third higher than in 2018 and can support up to 1,270 new residential units including 995 rental apartments, 200 for-sale rowhouses/townhouses, and 75 for-sale condominiums over the next five years.
According to the study, the city-wide annual average potential market over the next five years for new and existing housing units is s 5,670 households. This annual potential market for new and existing housing units is further refined within the Greater Downtown Trenton Study Area to 2,760 younger singles and couples, empty nesters and retirees, and traditional and non-traditional families of all incomes.