One of the most frequently asked areas by Korean parents in Bergen County, New Jersey, is Tenafly. Due to its good school district and quiet residential environment, inquiries are consistent, but many are surprised to find that there are significant price differences depending on the neighborhood, even within the same town.

The East Hill area, near Clinton Avenue and close to Tenafly High School, seems to have single-family homes priced between $1.3 million and $1.6 million. Over the past year, this area has shown a steady upward trend, indicating that the school district premium is still strongly in effect.

In contrast, areas near West Tenafly or downtown, close to commuter train stations and commercial districts, are relatively more accessible, with prices ranging from $900,000 to $1.1 million. Recently, the number of listings in this area has been gradually increasing, and prices have remained stable.

Expanding the range to neighboring Cresskill and Closter, Cresskill is priced in the mid-$900,000s to $1.1 million, while Closter ranges from the low $700,000s to $850,000, making them relatively less burdensome alternatives compared to Tenafly.

From an investment perspective, West Tenafly is worth noting. Recent discussions about downtown retail revitalization and improvements to the pedestrian environment around the train station suggest that accessibility to the commercial district may improve in the medium to long term, which is seen as an attractive factor.

In terms of rental yield, Tenafly's rents are relatively low compared to sales prices, with pure rental yields appearing to be in the mid-2% to low-3% range. It is important to consider that the strong demand for school districts means that many purchases are for actual residence rather than investment.

However, the recent high mortgage rates have somewhat dampened buying sentiment, and the school district premium is already significantly reflected in prices, which are risk factors to be aware of. Rather than rushing to buy, it seems necessary to carefully check the school district assignment and commuting distances.

For Korean families prioritizing their children's education, the East Hill area remains attractive, but if you want to reduce initial financial burdens, comparing West Tenafly and Cresskill may also be a reasonable approach. Ultimately, it is advisable to consider your budget, commuting conditions, and long-term residency plans together.