Roosevelt is a borough in Monmouth County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 882, reflecting a decline of 51 (-5.5%) from the 933 counted in the 2000 Census, which had in turn increased by 49 (+5.5%) from the 884 counted in the 1990 Census.
The borough was established as Jersey Homesteads by an act of the New Jersey Legislature on May 29, 1937, from portions of Millstone Township. The name was changed to Roosevelt as of November 9, 1945, based on the results of a referendum held three days earlier, in honor of Franklin D. Roosevelt, who had died on April 12, 1945.
New Jersey Monthly magazine ranked Roosevelt as its 12th best place to live in its 2008 rankings of the "Best Places To Live" in New Jersey.
Roosevelt was originally called Jersey Homesteads, and was created during the Great Depression as part of President Roosevelt's New Deal, its main purpose being to resettle Jewish garment workers. The town was conceived as an integrated cooperative project, with farming, manufacturing, and retail all on a cooperative basis. The project fell under the discretion of the Resettlement Administration, but was conceived and largely planned out by Benjamin Brown.
Farmland in Central Jersey was purchased by Jersey Homesteads, Inc., a corporation owned by the federal government but under control of a board of directors selected by Brown. Construction started around 1936. Soon after there were 200 homes and various public facilities in place. The economy of the town consisted of a garment factory and a farm. Objectives of the community were to help residents escape poverty, to show that cooperative management can work, and as an experiment in government intervention.
Albert Einstein gave the town his political and moral support.