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Verona, N.J.: A Hilly Suburb Where You Can Stretch Your Budget


The lower-lying center of Verona is anchored by the 64-acre Verona Park and its lake; at its northern end, the park meets up with the township’s main commercial district on Bloomfield Avenue. Houses along the streets spreading out from the center are more modest, with an assortment of ranches, split-levels, Cape Cods and smaller colonials. While some homeowners put on additions, Verona has not had the rash of house demolitions and rebuilding experienced in nearby Essex County towns.

“Verona is a town that has a strong middle- and high-middle-income population,” said Susan DeRosa, an agent with Berkshire Hathaway HomeServices, who noted that condominiums and townhouses typically account for 25 to 30 percent of the housing market. Condominium choices include apartments in the Claridge Houses, two older high-rises on Verona’s eastern ridge, and Kips Ridge, a 1980s townhouse development next to Kip’s Castle Park. Rental options include Annin Lofts, 112 new luxury apartments built on the Bloomfield Avenue site where the Annin flag factory once stood.

Credit…Tony Cenicola/The New York Times

Verona’s available housing stock is small. In early March, 16 single-family homes and 22 condominiums were on the market. At the high end was a 4,000-square-foot, six-bedroom house built in 1915, listed for $1.099 million; at the low end was a one-bedroom, two-bathroom apartment in the Claridges, listed for $160,000.

According to the Garden State Multiple Listing Service, 122 single-family houses sold for an average price of $567,597 from June 2019 through February 2020; 113 houses sold in the same nine-month period the year before, at an average price of $534,917. For condos, 52 sold from June 2019 through February 2020 for an average price of $311,748, compared with 53 condos during that period in 2018-19 for an average of $280,633.

Monthly rents at newer apartment complexes like Annin Lofts and Highlands at Hilltop run from $2,000 to $4,200.

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