Netflix is significantly impacting the real estate market in Monmouth County, New Jersey, following its commitment of approximately $1 billion to establish Netflix Studios Fort Monmouth. This massive production campus, slated to be the company's second-largest in the U.S., is expected to generate up to 1,500 permanent jobs and 3,528 construction jobs at its peak. The facility, which will feature 12 soundstages totaling nearly 500,000 square feet, is anticipated to open its first phase in Oceanport by 2027 and be fully operational across Eatontown by the end of 2028.
The development has already led to a noticeable "Netflix effect" on local property values. For example, a five-bedroom residence in Little Silver, N.J., recently sold for $2.6 million, which is $500,000 or 24% above its $2.1 million asking price. Real estate professionals attribute this surge to increased demand for housing, particularly from high-earning Netflix employees, with some job listings offering salaries of $750,000-plus, attracting buyers looking for homes over $2 million.
This impact extends beyond residential properties, creating demand for flex and industrial spaces for production vendors, as well as boosting hospitality, retail, and dining sectors. The broader Monmouth County real estate market is experiencing significant changes, with towns like Long Branch showing a substantial gap between closed-sale median prices ($723,000) and listing median prices ($1.32 million), indicating the Netflix premium being factored into the market. While Netflix is developing a new reality show called "The Leftovers" in New Jersey with a "Jersey Shore" producer, it is not officially a "Jersey Shore" reboot, though filming in Seaside Heights has led to some public speculation and disapproval regarding a potential reboot of the original MTV series.
