South Jersey officials highlight growing demand for housing in Camden, "a city on the rise"
In the Cramer Hill neighborhood on North 21st Street in Camden, city officials gathered Wednesday to highlight what they called positive changes in the community and a growing demand for housing citywide.
"This is the site of a former fire, damaged and abandoned property. The former building was a nuisance for many years in this neighborhood," said Mayor Victor Carstarphen.
In 2022, the city says the Phoenix Development Group bought the property and built two new homes that recently sold for $360,000 and $350,000, both over the asking price.
"The city market value rate housing prices are up 40% since last year," said Camden County Commissioner Al Dyer.
City and county leaders say recent real estate reports show the top three zip codes with the greatest home appreciation in the Philadelphia metro area are located in Camden, while the city also offers the lowest average property taxes in New Jersey.
"We're fighting to survive, that's honestly what it is," said Ariana Abreu, who lives in Camden.
Abreu says she's happy the city is safer and more appealing, but she worries rising home prices and an inflated housing market make owning a home currently unaffordable for her.
"Not here," Abreu said. "If things are going the way they continue to go, not now or in the next five years."
The mayor says the city is also investing in affordable housing options. He added a renewed interest in new construction shows public safety improvements, education reforms and investments in job creation are working.
"This is another example through partnerships and hard work that our neighborhoods are improving," said Carstarphen.