When looking for a larger home while living in Leonia, the first question that often arises is, 'How different is the neighboring town?' While it may appear close on a map, the actual price differences can be quite significant.

Leonia is a quiet small town centered around Broad Avenue, known for its charming commercial areas. It primarily features single-family homes, with the median home price estimated to be between $650,000 and $720,000. Its location, just about 30 minutes by bus to New York, supports consistent demand. The town's small size also allows for easy walking access to most daily needs, which residents often cite as a benefit.

Right next to Leonia, Englewood Cliffs has a completely different price range. This area, lined with large mansions along the Palisades Cliffs, has a median price reaching $1.5 million to $1.8 million, and it has gained national recognition due to famous sports stars purchasing large homes there. With spacious lots and well-maintained landscaping, each visit can offer a different atmosphere.

The high-rise condos along the Fort Lee waterfront are another area frequently compared by Leonia residents. Units with views of Manhattan are priced around $700,000 to $900,000, similar to or slightly higher than single-family homes in Leonia. Many families find themselves weighing the pros and cons of single-family homes versus condos.

The gap between typical homes in Leonia and top-tier mansions in Englewood Cliffs is more than double. Despite sharing the same Palisades ridge, the market prices vary significantly based on cliffside views and lot sizes. There are clear boundary points where the atmosphere and prices change dramatically, even with just a road in between.

The background for this disparity largely stems from differences in zoning policies. Englewood Cliffs has been developed primarily with large parcels, resulting in a long-standing trend of scarcity supporting higher prices. In contrast, Leonia has many relatively smaller lots, making it easier to enter the market. This difference is also why the two areas, despite being adjacent, create completely different living environments.

For Korean families, Leonia is often seen as a region that offers good school districts and convenience with relatively lower costs. It appears to be an attractive area for those with young children or first-time homebuyers. As their assets grow, it is not uncommon to see families move to nearby Englewood Cliffs.

In fact, during consultations, I frequently meet families who start in Leonia and move to Englewood Cliffs or Tenafly as their children progress in school. Reducing the burden of purchasing a first home while planning future moves can be a good strategy.

When comparing prices with neighboring areas, I recommend considering not just the median prices but also the lot sizes and property tax rates. The differences in property tax rates can significantly impact the cost of living.