Is Highland Park, NJ, Becoming Too Expensive for the People Who Made It Great?

Could you afford to buy your Highland Park home today? And what happens to a community when the next generation can no longer afford to live there?

By Bruce Parker, Broker-Owner, Best Realty LLC | November 2026

Highland Park, New Jersey, has always been more than just another town in Middlesex County.

It's a community where neighbors know each other, people walk to local businesses, families put down roots, and residents take pride in their town.

But something is changing.

Home prices have climbed. Property taxes remain a major expense. Rents are challenging for many households. And some of the people who grew up in Highland Park may find that buying a home in their hometown is now financially out of reach.

That raises an uncomfortable question:

Is Highland Park becoming too expensive for the very people who helped make it such a desirable place to live?

1. The Highland Park Housing Market: What the Numbers Tell Us

Let's look at the facts.

According to Realtor.com September 2026 market report:

• Median home listing price: approximately $590,000

• Median home sale price: approximately $620,000

• Median advertised rent: approximately $2,400 per month

• Active residential listings: approximately 33

These figures reflect a housing market where affordability can be a serious obstacle for first-time buyers.

Consider a home selling for $620,000.

A buyer making a 20% down payment would need $124,000 in cash just for the down payment, before closing costs, inspections, moving expenses, and reserves.

The mortgage would be approximately $496,000.

And then there are property taxes.

For someone who bought a Highland Park home decades ago, today's prices might seem almost unbelievable.

But for a younger person hoping to buy their first home, those numbers can be intimidating.

Source: Realtor.com Highland Park Housing Market, September 2026.

2. The Property Tax Problem: Can Longtime Homeowners Afford to Stay?

Highland Park has another affordability challenge that doesn't disappear when someone pays off their mortgage.

Property taxes.

According to the Borough of Highland Park's 2026 budget presentation, the estimated average residential property tax bill was approximately $13,340 annually.

That's more than $1,100 per month.

Imagine being a homeowner who purchased a house 35 or 40 years ago.

You worked hard, raised a family, maintained your property, and finally paid off the mortgage.

You own your home free and clear.

But you still face property taxes, insurance, utilities, maintenance, and repairs.

For homeowners living on fixed incomes, those expenses can become increasingly difficult to manage.

Some may begin wondering whether remaining in Highland Park makes financial sense.

And that's a shame, because longtime residents contribute something that cannot be measured by real estate prices alone: history, continuity, and community identity.

Source: Borough of Highland Park, 2026 Municipal Budget Presentation.

3. Could Your Children Afford to Buy the House They Grew Up In?

Here's a question I'd like every Highland Park homeowner to consider.

Suppose you purchased your home in the 1980s or 1990s.

At the time, it was a major financial commitment. You saved for the down payment, qualified for a mortgage, and gradually built equity.

Today, that same home might be worth substantially more.

That's wonderful news for your net worth.

But could your children afford to buy it?

Could a teacher, a police officer, a young professional, or a couple starting their careers afford to purchase a typical Highland Park home today?

Some certainly can.

Others may find themselves looking in communities where their money goes further.

The result could be a gradual change in the people who are able to buy homes in town.

When the children who grew up in a community cannot afford to return, what does that mean for its future?

4. Why Is Highland Park So Desirable?

Despite the affordability challenges, there are very good reasons people want to live here.

Highland Park offers a combination of characteristics that can be difficult to find elsewhere.

Its walkable downtown, independent businesses, community events, and residential neighborhoods create a distinctive atmosphere.

Residents enjoy proximity to Rutgers University, New Brunswick, the Northeast Corridor rail line, major employment centers, parks, and cultural opportunities.

Highland Park also has a strong tradition of civic involvement. Residents attend public meetings, discuss local issues, support community organizations, and take an active interest in the town's future.

These qualities help make Highland Park attractive.

And that creates an interesting real estate dilemma.

The more desirable a community becomes, the harder it may be for some people to afford to live there.

For those interested in exploring the town, I encourage you to visit my website, HighlandParkNewJersey.com.

You can also watch my Living in Highland Park NJ YouTube channel, where I share videos about the community, local real estate, and issues affecting residents.

5. Will New Development Make Highland Park More Affordable or More Expensive?

Another important part of this conversation is redevelopment.

Highland Park has been considering and advancing redevelopment plans involving portions of its downtown.

New residential construction could bring additional housing choices, customers for local businesses, and opportunities to improve public spaces.

But residents also have legitimate questions.

Will new housing be affordable to existing residents?

Will additional development affect traffic and parking?

How will new construction affect schools, municipal services, and infrastructure?

Could new development place upward pressure on surrounding property values, or could increased housing supply help moderate prices?

There are no simple answers.

New development is not automatically good or bad. The details matter.

The number and types of housing units, their prices, the impact on public services, and the financial arrangements between developers and the municipality all deserve careful examination.

The goal should be to encourage responsible growth while protecting the qualities that make Highland Park special.

For information about the borough's redevelopment plans, residents can consult the Highland Park Borough redevelopment website.

6. Are Rising Home Values Good News or Bad News?

The answer depends on your circumstances.

If you own a Highland Park home and are considering selling, rising property values may represent an important financial opportunity.

Your home may be your largest asset.

The equity you've accumulated could help fund retirement, purchase another home, reduce debt, or support other financial goals.

But if you're a first-time buyer, higher prices can create an enormous challenge.

And if you're a longtime homeowner who wants to stay, increasing housing costs and property-related expenses may make that more difficult.

That's why I believe real estate conversations should include more than just whether prices are going up or down.

We should also ask:

Who benefits from rising prices, who faces greater challenges, and what can we do to preserve a strong community?

7. What Should Highland Park Homeowners Do in 2027?

As we approach 2027, I believe homeowners should evaluate their individual situations rather than assume that the best decision is always to sell, stay, or wait.

If you plan to remain in your home, consider whether future taxes, maintenance expenses, and improvements fit comfortably within your budget.

If you're thinking about downsizing, compare what you could receive for your current home with the cost of your next home.

If you own an investment property, review its rental income, expenses, and long-term prospects.

And if you're considering selling, understand that a town wide average does not determine your home's value.

Location, condition, size, property type, recent comparable sales, and buyer demand all matter.

A well-maintained home on one street may attract very different buyer interest than a similar-sized property elsewhere in town.

Knowing what your home is worth is useful even if you have no intention of selling immediately.

8. My Perspective After More Than 34 Years in Real Estate

I've spent more than 34 years working in real estate and have been involved in the sale of more than 2,700 homes.

As the Broker-Owner of Best Realty LLC in Highland Park, I've watched real estate markets change through periods of rising prices, declining prices, high interest rates, and economic uncertainty.

One lesson has remained consistent.

A house is both a financial asset and a place filled with memories.

When someone sells a home they've owned for 30 or 40 years, they're not simply transferring real estate.

They're often closing an important chapter of their life.

And when someone buys their first home, they're beginning a new chapter.

That's why the future of Highland Park matters to me.

I want Highland Park to remain a desirable place to live, but I also hope it remains a community where people from different backgrounds and financial circumstances have opportunities to put down roots.

That balance is worth discussing.

9. Now I'd Like to Hear From You

I have three questions for Highland Park residents, former residents, and anyone considering moving here.

1. If you grew up in Highland Park, could you afford to buy your childhood home today?

2. If you've lived in Highland Park for 20 years or more, do you think the town is changing for the better or worse?

3. What concerns you most about Highland Park's future: home prices, property taxes, redevelopment, or something else?

I'd genuinely like to hear your thoughts.

Share this article with someone who grew up in Highland Park, still lives here, or is considering making Highland Park their home.

Let's have a constructive conversation about the future of our community.

Stay Connected With Highland Park

Want to know more about Highland Park, New Jersey?

Watch my YouTube channel: Living in Highland Park NJ

Local real estate information, community developments, neighborhood insights, and videos about living in Highland Park.

Explore the community: HighlandParkNewJersey.com

Learn more about Highland Park and what makes our town unique.

Find out what your home is worth: YourNewJerseyHomeSold.com

Whether you're considering selling soon or simply curious about your home's current market value, I would be happy to help.

Bruce Parker

Broker-Owner, Best Realty LLC

Highland Park, New Jersey

34+ Years of Real Estate Experience | 2,700+ Homes Sold

Call: 908-202-5738

Your Home Deserves The Best — Best Realty.

Market figures are historical snapshots and may change. Estimates and averages do not represent the value or tax liability of any individual property.