Bergen County, New Jersey, at around one million residents, is one of the top 20 highest income counties in the nation with the 18th highest (as of 2006) personal per capita income. With that kind of money floating around, Bergen County real estate is considered premium land.
Bergen County’s history goes back to the 17th century when it was included in the same district as Essex, Monmouth, and Middlesex counties. Each was considered an independent colony where individual land owners were able to retain their rights rather than giving up the land to the state.
Area wise, Bergen County was originally much larger, including the real estate where Hudson and Passaic counties now sit, but lost that land to the respective counties when they were formed in the early to mid 19th century.
Bergen County’s Role in the American Revolution
Fort Lee, located opposite of Fort Washington in Manhattan, was an important strategic point. After the capture of Fort Washington by the British, General Charles Cornwallis — considered by many historians to have been a master military strategist — was given independent command of British forces and used it to capture Fort Lee in November of 1776.
River Vale, New Jersey, a township of Bergen County, is site of the Baylor Massacre in which 15 members of the Continental Army’s 3rd Regiment of Light Dragoons, unarmed and sleeping, were killed by British forces.
The commander of the 3rd Continental Light Dragoons, Colonel George Baylor, received a bayonet injury to the lung and was taken prisoner. Despite the injury, he recovered to later rejoin the Continental Army in their fight.
Post-War Development
In the mid 19th century, the Erie Railroad began running services from Jersey City to points in Bergen County. In the early 20th century, Camp Merritt became a staging area for troops being deployed to Europe during World War I. George Washington Bridge, completed in 1931, connected Fort Lee to Manhattan and helped to spur post World War II development.
During the 1950’s, a missile station was built to help protect the New York Metropolitan area from strategic bombers, although the site was closed in 1971.
In 2004, Forbes magazine ranked Bergen County as the second most overpriced place in the nation. However, that ranking dropped the seventh by 2005. High property taxes — the fourth highest of any county in the nation behind two New York counties and Hunterdon County of New Jersey — help to maintain and ensure a wealthy citizenry, and a wealthy citizenry tends to have expensive tastes in homes.
High-end homes are one of the least affected areas of the downturn in the housing market, thereby making Bergen County real estate a great place to buy a home that will retain its value better than most.