Newark’s Film Studio Boom — What It Means for Real Estate Across Northern NJ

Exciting things are happening in Newark and our surrounding area, and it’s not just headlines. Construction has begun on the new Lionsgate Film & Television Studio in Newark’s South Ward, marking a major step forward in transforming the city into a destination for film and TV production. A $100 million project. NJPAC+1

This 12-acre, purpose-built studio project is expected to generate more than 600 long-term jobs and bring an anticipated $800+ million in annual economic impact to Newark and the state of New Jersey. Choose New Jersey

A New Economic Engine — Jobs & Opportunity

One of the most important outcomes of this project will be job creation. The studio partners have committed to prioritizing Newark residents for jobs, with 70% of full-time employment opportunities reserved for locals and 40% of construction hours dedicated to community residents during the build-out. NJPAC

That means steady career opportunities not only in production roles but also in maintenance, administration, engineering, security, landscaping, catering and supporting services, jobs that pay year-round, not just project-by-project. 6sqft

This kind of job growth often has ripple effects across the region. When people have stable employment, they spend locally, at restaurants, shops, gyms, childcare providers, and more, boosting demand for services and stimulating local businesses throughout Essex, Bergen, and Passaic counties.

Real Estate — Rents, Values & Market Dynamics

When an area experiences a surge in job creation and long-term industry growth, real estate often follows.



1. Increased Demand for Housing:

More jobs, especially steady, well-paying ones, often lead to greater demand for both rentals and for-sale housing. This is true not just in Newark but in neighboring communities like East Orange, Bloomfield, Lyndhurst, North Arlington, Kearny, Montclair, Jersey City, Hoboken, Ridgewood, Passaic, etc. as workers seek convenient commutes across northern New Jersey.

2. Rising Rents:

As demand increases, rents tend to tighten, particularly in transit-accessible communities on the PATH, NJ Transit, and light rail corridors. Properties near major transit hubs that offer easy access to Newark, NYC, and local job centers are often the first to see rent growth.

3. Home Value Appreciation:

Long-term economic development projects are often associated with home price appreciation, as buyers see stability and future prospects in nearby markets. While Newark itself may transform more quickly, similar effects can trickle outward to Essex, Bergen, and Passaic counties as homebuyers look for value and proximity to job opportunities.

4. High-Ticket Midterm Rental Opportunity:



Here is one that we NEED to talk about. Midterm rentals (MTR) have been growing in popularity in our area for homeowners and real estate investors alike, and with the influx of actors, crews, essential production members needing housing in our area on a 3-6 month timeframe, there is going to be a surging demand for midterm (stays for 30 days or longer) rental properties. Check your town requirements. Most towns do require a minimum of 30 day stays for properties & many not allowing short-term rentals (VRBO, AirBnB).

In many markets where stable industry anchors arrive, property values strengthen over time, and communities gain increased investor interest. (While this project is unique, trends in similar developments show housing markets respond to new employment centers, as seen historically in other metropolitan regions.)

Regional Opportunity — Not Just Newark

This isn’t a small project for one city, it’s part of a broader film and entertainment ecosystem growing across New Jersey, with tax incentives drawing studios and production spending at record levels. NJEDA

As production activity ramps up, communities throughout northern New Jersey could benefit, whether through jobs, indirect services, housing demand, or small business growth.

What Do You Think This Means for Our Area?

I’d love to hear from you:

How do you think new film industry development will affect home values, rents, and jobs in Essex, Bergen, and Passaic counties?

Reply to this email and let me know what you think!

Whether you’re a homeowner, renter, investor, or business owner, this could be a shift with long-lasting impact on our local economy and community.