Housing Prices in America's Top Town: Moorestown, New Jersey

In August, 2005, Money Magazine named the hamlet of Moorestown, New Jersey as its selection for "Top Town" in the United States. Using criteria such as culture, arts, accessibility, school system, ambiance, proximity to major cities and other bases, at first blush Moorestown appears to be everything that one would hope for in a small-town atmosphere in which to raise your family. One of the components which Money gushingly described was the fact that many current Moorestonians are third and fourth generation citizens, having decided to relocate back to their birthplace after college and after becoming a family unit. This is quite true; having been a Moorestown resident for over a dozen years now, I know of at least thirty families who have always called Moorestown home. Why did they come back? And in the long run, was that decision the right one? 

They came back to be with their families, to become a traditional family unit with grandparents, siblings, cousins and more living, playing and working in the same area. While this is a wonderful fact and a wonderful stable, serene way in which to raise a family, it's also worth taking a look at current real estate prices to see if indeed it is the most economical way to go. (Quite often, native Moorestonians move back because they are purchasing the family home, with their parents moving into one of the ten or so assisted living or long-term-care facilities located within the township or a few miles or so away. These relocating families are buying their relatives' homes at very good, below market prices so as to keep these beautiful old homes literally 'in the family'.)  For others not so fortunate to have a 'family home' to come back to, real estate prices in Moorestown can be quite a shock.