Is Multi-Generational Housing the Smart Move in Bergen County Right Now?

What do multi-generational buyers need to know about Bergen County's two-family housing market in 2025?

Multi-generational buyers in Bergen County face a tight, competitive market, but two-family homes remain a smart investment, especially with the right strategy and support. As inventory increases slightly and prices remain high, acting quickly and intentionally is key.

Why Multi-Generational Housing Is Gaining Traction

Across Northern New Jersey, more families are seeking homes that offer separate living spaces under one roof. Whether you're caring for aging parents, combining finances with adult children, or creating rental income flexibility, two-family homes are an ideal solution.

Bergen County offers:

• A dense mix of towns with legal multi-family zoning

• Proximity to NYC with public transit access

• Strong appreciation and rental potential

That said, demand often exceeds supply, especially for move-in-ready two-family homes in commuter-friendly towns.

Key Market Trends (January–June 2025)

According to Redfin, Rocket Homes, and local MLS data:

• The median home value in Bergen County hit $802,250 by June 2025—up over 10% year-over-year.

• Two-family homes saw even greater demand, with list-to-sale ratios exceeding 100% in many towns like Palisades Park, Fairview, and Teaneck.

• Inventory is growing gradually. In June 2025, total active listings reached 2,514, up 31% from May.

• Days on market dropped by nearly 50% compared to 2024. Well-priced multi-family homes often sell in under three weeks.

Where to Look: Top Towns for Two-Family Buyers

These Bergen County towns consistently show strong opportunities for multi-generational buyers:

1. Palisades Park & Fairview

• High density of two-family homes

• Excellent rental income potential

• Quick commute via Route 46, I-95, and buses to NYC

2. Ridgefield Park & Teaneck

• Larger lot sizes

• Legal two-family zoning in multiple areas

• Strong community infrastructure

3. Hackensack

• Central location and increasing development

• Walkable downtown areas with mixed-use housing

• More favorable price-per-square-foot than neighboring towns

4. North Bergen & West New York (Hudson County)

• Direct Hudson River views and NYC access

• Increasing two-family turnover as demand grows

What Buyers Need to Know Right Now

Multi-family homes are incredibly competitive, especially those with:

• Separate utilities

• Updated interiors

• Finished basements or attic spaces

• Off-street parking

To succeed in this market:

1. Get fully pre-approved by a local lender

2. Work with an agent who understands local zoning and multi-family valuation

3. Be ready to make a strong, fast offer—sometimes sight-unseen

Many of the best properties are sold off-market or within the first 48–72 hours of listing.

The Investment Angle: Build Wealth While Housing Family

Multi-generational housing isn’t just about convenience. In Bergen County, it’s a smart wealth strategy:

• Live in one unit, rent the other to offset your mortgage

• Add value with light renovations and improved energy efficiency

• Refinance in a few years with stronger equity

Some buyers are even converting single-family homes with finished basements into de facto two-family setups, although legal zoning and permits are essential.

Avoid These Common Pitfalls

Multi-gen buyers should be cautious of:

• Overpaying for outdated or non-conforming properties

• Underestimating repair costs or legal requirements for occupancy

• **Missing key town permit checks, **especially for finished basements or third kitchens

Having the right representation ensures you know exactly what you're buying and whether it aligns with your goals.

Final Takeaway for 2025

Multi-generational housing in Bergen County is more relevant—and more competitive—than ever. With rising prices, increased inventory, and evolving household needs, now is the time to explore two-family opportunities.

Whether you're planning to co-own with extended family, house aging relatives, or generate rental income, the key is acting with intention. These homes aren’t just shelters—they’re multi-generational wealth engines.

Contact Me for a Free Buyer Consultation

I'm Scott Selleck, a REALTOR® serving Bergen & Hudson Counties in Northern NJ, and I specialize in helping buyers find the right multi-family homes for their unique needs.

Book a free consultation today to:

• Access available two-family listings (including off-market)

• Learn local zoning rules by town

• Gain a competitive edge with expert guidance

📲 Visit www.SelleckSellsNJ.com/Blog or contact me directly to get started.