[New Jersey Town] Tenafly

Hello, I’m Sarah Chung, a real estate agent (Realtor) based in New Jersey.

Today, I’d like to introduce you to Tenafly, a town located in northeastern New Jersey.

 

Tenafly is a town in Bergen County, well-known for its excellent school district. It’s a top choice for Korean parents due to its high-quality education system. With its stable economy and top-notch schools, Tenafly’s real estate market is very active. Properties tend to sell quickly, as many buyers are eager to secure a home in this area.

What does the Tenafly real estate market look like in 2024? Let’s take a look at some key trends!

Overview of Tenafly: Premium Residential Area & Top Educational Town

Tenafly, New Jersey, is known as one of the wealthiest towns in the state. In 2022, the median household income was $206,652, a significantly high figure.

 

Transportation in Tenafly

From Tenafly, NJ, you can take the NJ Transit Bus Route 166 to New York City’s Midtown Port Authority Bus Terminal via local and express services.

Additionally, Rockland Coaches offers service to the Port Authority Bus Terminal on Routes 9/9A/9T/9TA from Stony Point and on Routes 20/20T from West Nyack.

Tenafly Real Estate Market

Tenafly’s real estate market is highly active, thanks to its high income levels and excellent school district. This has helped maintain stable property values, making Tenafly a desirable place to live.

Home Prices

In 2024, the median home price in Tenafly is around $850,000, showing a 6% increase compared to 2023. There is high demand for 3-4 bedroom single-family homes, especially among young families and Korean buyers.

Inventory & Sales Speed

Currently, housing inventory in Tenafly is quite limited, with the average time on the market being less than 25 days, indicating a fast-paced sales environment. This situation benefits sellers, as homes are quickly being sold.

Rental Market

The rental market is also very active. The average rent for a 2-bedroom apartment starts at $3,000 per month. Young professionals commuting to New York City find this area particularly attractive due to its convenient transportation and high living standards, maintaining steady demand for rentals.

Tenafly School District

Tenafly is renowned for its excellent education system and high academic achievements.

As of the 2020-21 school year, the Tenafly School District consists of six schools with a total of 3,582 students. With 305.2 full-time teachers, the student-to-teacher ratio is 11.7:1, ensuring a high-quality learning environment.

Overview of Tenafly Schools:

• Malcolm S. Mackay Elementary School: Grades K-5, 344 students
• Ralph S. Maugham Elementary School: Grades K-5, 364 students
• J. Spencer Smith Elementary School: Grades K-5, 350 students
• Walter Stillman Elementary School: Grades K-5, 334 students
• Tenafly Middle School: Grades 6-8, 889 students
• Tenafly High School: Grades 9-12, 1,231 students

For more details about the school district, visit GreatSchools.org.

Demographics of Tenafly

The five largest racial groups in Tenafly, NJ are White (59.1%), Asian (31.1%), Two or More Races (Hispanic) (3.54%), White (Hispanic) (2.64%), and Two or More Races (1.4%).

In 2024, the estimated population is around 14,000, showing a slight increase since 2020. Tenafly is a culturally diverse area, with a notable rise in the Asian-American population. The influx of young, well-educated families is transforming the community into a vibrant and dynamic one. This demographic shift is also positively affecting the real estate market.

 

Growth of the Korean Community

In recent years, the Korean community in Tenafly has seen remarkable growth. As of 2024, approximately 20% of the population is Korean or of Korean descent, a 6% increase since 2020. Here’s why Koreans are drawn to Tenafly:

• Excellent School District: The strong academic performance of Tenafly’s schools makes it highly appealing to Korean parents focused on education.
• Safe and Peaceful Environment: The low crime rate and tranquil neighborhoods make it an ideal community for families.
• Convenient Transportation: The proximity to New York City and easy access to public transportation are great advantages for working professionals.
• Cultural Amenities: The town is close to Korean communities in Fort Lee and Palisades Park, making it easy to access Korean grocery stores, restaurants, and cultural facilities.
• Strong Community Network: The growing Korean population has led to active community engagement, fostering strong bonds between residents.
• Diverse Housing Options: Tenafly offers a range of real estate options, from single-family homes to luxury residences, catering to various lifestyles and budgets.

These factors have made Tenafly a sought-after area for Korean buyers, contributing to the stability and growth of the local real estate market.

If you’re looking for professional, friendly, and warm service, contact Sarah Chung.

I’ll help you with care, friendliness, and attention, as if it were my own home.

 

Contact Sarah Chung

• Instagram: @RealtorSarahChung
• KakaoTalk: RealtorSarah
• Email: sarah@PropertieswithSarah.com

 

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