Top Towns: Bang for the Buck

Pequannock, in Morris County, gives residents the best bang for their real estate buck of all the top towns.

Pequannock
Population: 15,540
County: Morris
Overall Rank: 11

Pequannock Township, a picturesque bedroom community located in the foothills of the Ramapo Mountains, is believed to have derived its name from the Lenni Lenape word paquettahhnuake, meaning “cleared land ready or being readied for cultivation.” Once 176 square miles of rural farmland settled by the Dutch, the 7.2-square-mile town was incorporated in 1798. It now boasts three business centers—two small ones downtown and a larger one along Route 23. Its proximity to bus and rail service attracts North Jersey and Manhattan professionals.

House prices are also a selling point—the median home price was less than $400,000 from 2007 to 2010. “We have a large amount of small to medium-size homes that were built for returning veterans after World War II,” explains Mayor Richard Phelan. “In addition, Pequannock has small lot sizes, which makes it easier for middle-class residents to afford.”

Phelan says Pequannock is also known for its well-maintained parks, most notably Pequannock Valley Park, which has a man-made swimming lake with a beach, picnic areas and playground equipment.

Click here to view the full list of Top Towns.

Methodology

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Overall Rank Municipality County 2010 median home price
9 Pequannock Morris $365,000
17 Caldwell Essex $400,000
21 Bedminster Somerset $319,900
23 Branchburg Somerset $395,000
28 Clark Union $385,000
30 Kingwood Hunterdon $397,000
33 Hillsborough Somerset $327,000
40 hipPlainsboro Middlesex $328,000
48 Raritan Town Hunterdon $335,000
52 Pennington Mercer $378,000
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