Jersey City, NJ—07304
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 $531,000, with a year-over-year change of 2.0%. This indicates that home prices in Jersey City, NJ are increasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $531,000 | 2.0% |
| Single Family | $587,000 | 0.0% |
| Condos | $386,000 | 7.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $332,000 | 7.1% |
2 Bed | $464,000 | 2.9% |
3 Bed | $607,000 | 0.2% |
4 Bed | $661,000 | 1.2% |
| 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 $2,490, with a year-over-year rent change of -2.0%. Per bedroom, the median rent as of July '25 in Jersey City, NJ is studios: $2,040, 1-bedrooms: $2,140, 2-bedrooms: $2,640, 3-bedrooms: $2,830, 4-bedrooms: $3,350. The most common rental property sizes in Jersey City, NJ are 1-bedroom and 2-bedroom, accounting for 34.2% and 31.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,350 | $2,490 |
| Studio Rent | $2,020 | $2,040 |
| 1 Bed Rent | $2,200 | $2,140 |
| 2 Bed Rent | $2,650 | $2,640 |
| 3 Bed Rent | $2,650 | $2,830 |
| 4 Bed Rent | $3,200 | $3,350 |
% 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 42. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $496,000 | -23.0% |
Listing Count | 128 | 4.0% |
| Listings as % of Homes | 0.2% | 4.0% |
Days on Market | 42 | 19.0% |
Demographics — Jersey City, NJ
As of the latest ACS Survey released in 2023, Jersey City, NJ has a population of 49,300, which has increased by 11.4% over the past 5 years. Jersey City, NJ is a moderately popular place for families, as children make up 22.5% of the population. The area has a moderately educated workforce, with 39.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,300 | 11.4% |
% Under 18 | 22.5% | -9.6% |
% Seniors | 11.8% | 16.8% |
% WFH | 14.8% | 604.8% |
% w/ College Degree | 39.7% | 30.2% |
As of the latest ACS Survey released in 2023, Jersey City, NJ is a predominantly black area, with 35.4% of the population identifying as black. The black population has shrunk by 8.1% in the last 5 years. The second most common race or ethnicity in Jersey City, NJ is hispanic, making up 28.2% of the population. Foreign-born residents account for 36.3% of the population in Jersey City, NJ, and this percentage has increased by 5.5% 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 | 20.1% | 64.8% |
% Black | 35.4% | -8.1% |
% Hispanic | 28.2% | -16.3% |
% Asian | 13.7% | -5.5% |
% Foreign Born | 36.3% | 5.5% |
Mortgage and Risk — Jersey City, NJ
According to HUD data as of 2023, there were 269 mortgage originations in Jersey City, NJ, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Jersey City, NJ. Investor activity is low, as 7.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 269 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
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 18.3%. This is considered high, suggesting that the neighborhood is heavily 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 | 3,102 |
Total Units Section 8 | 2,709 |
% Rentals under Section 8 | 18.3% |
% Occupied Section 8 | 92.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$370 | $2,200 | $1,830 |
| 2 Bedroom | -$580 | $2,650 | $2,070 |
| 3 Bedroom | -$80 | $2,650 | $2,570 |
| 4 Bedroom | -$330 | $3,200 | $2,870 |
Affordability — Jersey City, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7 |
| Median Home Price | $531,000 |
| Median Household Income | $68,400 |