Downtown Jersey City renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Downtown Jersey City is about $2,630 per month. This puts it in the 99th percentile compared to the city average cost of rent, which is $1,802. Households in Downtown Jersey City have a median income of $13,128 per month so the average renter in Downtown Jersey City is spending roughly 20% of their earnings on housing.
Nationally, and in Downtown Jersey City, home values are the data point most closely correlated with the cost of rent. The median price of a home in Downtown Jersey City is $781,944 right now, which is lower than nearby neighborhoods, meaning that rents in Downtown Jersey City also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the southeastern parts of Downtown Jersey City while lower rent rates are often available in southwestern areas.
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