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These days, finding an affordable place to live in the Jersey City area can be challenging. Home prices in Jersey City are now at a median cost of $637,535, higher than the New Jersey average of $496,577.
The average cost of rent is $2,146/mo in Jersey City, primarily driven by the current value of real estate in the Jersey City area. In Jersey City, 72.10% of households rent, and 36.36% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Jersey City is $9,282 per month. Households that rent pay about 23.12% of their income on rent here. Jersey City’s most expensive areas are in the southeastern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Hoboken, NJ: higher priced homes
- New York, NY: higher priced homes
- Union City, NJ: less expensive homes
- Weehawken, NJ: higher priced homes
- Secaucus, NJ: less expensive homes
- Bayonne, NJ: less expensive homes
- Harrison, NJ: less expensive homes
- Kearny, NJ: less expensive homes
- West New York, NJ: less expensive homes
- East Newark, NJ: less expensive homes
Cities with Similar Populations
- Sacramento, CA: equally priced homes
- Rochester, MN: less expensive homes
- Rockford, IL: less expensive homes
- Redwood City, CA: higher priced homes
- Pueblo, CO: less expensive homes
- Rialto, CA: less expensive homes
- Richmond, CA: equally priced homes
- Riverview, FL: less expensive homes
- Raleigh, NC: less expensive homes
- Roanoke, VA: less expensive homes
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