Jersey City, NJ—07302
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Jersey City, NJ
As of Oct '25, the median home price in Jersey City, NJ is $879,000, with a year-over-year change of -0.3%. This indicates that home prices in Jersey City, NJ are flat. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $879,000 | -0.3% |
| Single Family | $1,014,000 | 0.0% |
| Condos | $848,000 | -0.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $652,000 | -0.6% |
2 Bed | $962,000 | -1.5% |
3 Bed | $1,378,000 | -0.6% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Jersey City, NJ
As of July '25, Rentcast reports the average rent in Jersey City, NJ is $3,840, with a year-over-year rent change of -6.3%. Per bedroom, the median rent as of July '25 in Jersey City, NJ is studios: $3,030, 1-bedrooms: $3,350, 2-bedrooms: $4,560, 3-bedrooms: $5,360, 4-bedrooms: $6,170. The most common rental property sizes in Jersey City, NJ are 1-bedroom and 2-bedroom, accounting for 47.7% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,500 | $3,840 |
| Studio Rent | $3,060 | $3,030 |
| 1 Bed Rent | $3,300 | $3,350 |
| 2 Bed Rent | $4,400 | $4,560 |
| 3 Bed Rent | $5,000 | $5,360 |
| 4 Bed Rent | $5,390 | $6,170 |
% of Rental Stock
Property Listings — Jersey City, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Jersey City, NJ is 40. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $852,000 | -4.0% |
Listing Count | 298 | -3.0% |
| Listings as % of Homes | 0.4% | -3.0% |
Days on Market | 40 | -7.0% |
Demographics — Jersey City, NJ
As of the latest ACS Survey released in 2023, Jersey City, NJ has a population of 55,400, which has increased by 26.7% over the past 5 years. Jersey City, NJ is a less popular place for families, as children make up 14.4% of the population. The area has a highly educated workforce, with 80.0% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 55,400 | 26.7% |
% Under 18 | 14.4% | -1.4% |
% Seniors | 7.3% | -21.5% |
% WFH | 31.2% | 457.1% |
% w/ College Degree | 80.0% | 8.1% |
As of the latest ACS Survey released in 2023, Jersey City, NJ is a predominantly white area, with 39.5% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Jersey City, NJ is asian, making up 33.7% of the population. Foreign-born residents account for 39.6% of the population in Jersey City, NJ, and this percentage has increased by 10.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 39.5% | -2.2% |
% Black | 7.4% | -9.8% |
% Hispanic | 15.2% | -19.6% |
% Asian | 33.7% | 16.2% |
% Foreign Born | 39.6% | 10.0% |
Mortgage and Risk — Jersey City, NJ
According to HUD data as of 2023, there were 508 mortgage originations in Jersey City, NJ, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Jersey City, NJ. Investor activity is low, as 3.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 508 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Jersey City, NJ
As of 2024, the percent of homes in Jersey City, NJ under the Section 8 program is 7.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Jersey City, NJ, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2,067 |
Total Units Section 8 | 1,694 |
% Rentals under Section 8 | 7.9% |
% Occupied Section 8 | 92.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$260 | $3,300 | $3,040 |
| 2 Bedroom | -$950 | $4,400 | $3,450 |
| 3 Bedroom | -$760 | $5,000 | $4,240 |
| 4 Bedroom | -$560 | $5,390 | $4,830 |
Affordability — Jersey City, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $879,000 |
| Median Household Income | $167,000 |