Industry / Local7 min read· October 7, 2026

What Is Driving Housing Demand Around Lakewood, Jackson and Toms River?

By Sam Alpert, President and Mortgage Loan Originator, NMLS #1961555

Lakewood's population growth has changed the housing conversation well beyond its borders. Census data and local reporting help explain why families have looked in Jackson and Toms River, and how schools, family ties and the need for space shape that search. That is a demand story, not proof of a price increase in every town.

Lakewood's growth, by the numbers

In the 2010 Census, Lakewood was home to 92,843 people. By 2020, that number was 135,158, a 46% jump in ten years, making it one of the fastest-growing towns in New Jersey. The Census Bureau's July 2025 estimate puts it at 143,765, above its 2020 count.

Census QuickFacts lists 4.36 people per household for 2020-2024 and 16.5% of residents under five. In April 2024, Asbury Park Press reported more than 5,000 births a year in Lakewood. These are dated figures, not a live count.

Reporting in 2022 and 2024 described the role of Lakewood's Orthodox Jewish community and Beth Medrash Govoha in the area's growth, and families moving into neighboring towns.

The spillover into neighboring towns

In December 2024, Asbury Park Press reported that Toms River's Orthodox community numbered more than 2,000 families. That is a historical reporting figure, not a verified October 2026 count. The same investigation described families moving to Toms River and Jackson for quieter streets, more land and room for growing households.

Jewish Insider's February 2022 reporting described proximity to family, schools, Jewish life and business opportunities as reasons people were drawn to the area. Its Toms River reporting also described families continuing to take children to schools in Lakewood. Community institutions and everyday logistics can matter alongside the house itself. Neither report measures a price premium attributable to religion.

Supply is the other half of the story

Population is only one part of a housing market. Available homes, construction, financing costs and a buyer's budget matter too. Statewide data adds context, but it cannot tell us what prices did in one municipality or neighborhood.

Statewide, single-family home prices in New Jersey rose 5.6% in August compared to a year earlier, one of the strongest gains in the country, according to Cotality's home price index released October 6. Cotality attributes New Jersey's strength to severe inventory shortages: many owners hold mortgage rates below 4% and are not selling, and new construction has not kept pace.

High rates have cooled buyer demand nationally. The Mortgage Bankers Association's weekly survey put the average 30-year fixed conforming rate at 7.49% for the week ending October 2 (with 0.84 points, for 80% loan-to-value loans), and purchase applications fell again. Those are national mortgage-application figures. They do not establish the current direction of home prices in Lakewood, Jackson or Toms River.

What buyers can actually do

Nobody can promise where prices go next. A few things are within a buyer's control:

Get pre-approved before you shop. A real pre-approval tells you what your monthly payment looks like at today's rates, so you shop with numbers instead of guesses. See the pre-approval guide.
Ask about seller credits. A seller credit can cover closing costs or fund a rate buydown, which can matter more to your monthly payment than a small price cut. See how seller credits work.
Consider every segment. Nationally, condos and townhomes rose just 0.1% in price over the past year, compared to 2.1% for detached homes, as HOA fees and insurance costs weigh on that segment. Factor the full monthly cost before comparing.
Compare homes against your own needs. Check price, space, commute and access to the places you use. Run the payment and full monthly costs house by house. Use the calculator.

The bottom line

The useful takeaway is specific: Lakewood grew substantially, and reporting has documented families looking beyond its borders while maintaining family and community connections. New Jersey's statewide price growth is a separate data point. For a purchase decision, use current comparable sales, a full monthly budget and the needs of your own household, not a broad claim about a religious group or a whole town.

Frequently asked questions

Why is Lakewood growing so fast?

Census data shows about 46% growth between 2010 and 2020, followed by a higher July 2025 population estimate. Reporting in 2022 and 2024 described the role of BMG, growing families, job opportunities and family connections. Those accounts help explain the area's growth without claiming that one factor explains every move.

Are home prices going up in Jackson and Toms River too?

The sources cited here do not establish current price growth for either municipality. Cotality reported New Jersey prices up 5.6% year over year in August 2026, but that statewide figure should not be presented as a Jackson or Toms River result. Check recent local sales and comparable properties.

Will New Jersey home prices drop in 2026?

Nationally, Cotality projects small month-over-month declines through the winter and about 1.3% total appreciation for 2026. New Jersey has been running well above the national trend because of its inventory shortage. Forecasts are estimates, not guarantees.

Should I wait for lower mortgage rates before buying?

That is a budget question, not a forecast question. The MBA survey average for a 30-year conforming loan was 7.49% for the week ending October 2, near a three-year high. If rates fall later, refinancing may be an option. We can run both scenarios for your specific numbers.

Sam Alpert, NMLS #1961555. Spring Home Company, NMLS #2741914. Not a rate quote or a commitment to lend. Figures are from the sources listed below.