Quick facts: Jersey city, NJ

Quick Facts

128.5
Cost of Living
above US average
286,670
Population
15.47
Crime Rate per 1000
below US average
$91,151
Median Income
above US average
$945,000
Median House Price
above US average
$4168.25
Average Rent
above US average
14%
Poverty Rate
above US average
5.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $91,151.

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Income Needed to Buy

βœ— Stretch
$296k/year
Based on $945,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $296k vs median $91,151
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Income Needed to Rent

⚠ Stretch
$179k/year
Based on $4168.25/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $179k vs median $91,151
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Jersey city, NJ

Jersey City, located in Hudson County, New Jersey, is a bustling urban hub directly across the Hudson River from Lower Manhattan, New York City. Known for its diverse population, Jersey City boasts a rich cultural scene, vibrant neighborhoods, and a waterfront that offers stunning views of the Manhattan skyline. The city features a mix of residential, commercial, and industrial areas, with notable districts such as Downtown, known for its high-rise buildings and trendy shops, and the Historic Paulus Hook, featuring cobblestone streets and waterfront parks. Jersey City is also home to various cultural institutions, including the Jersey City Museum and the Liberty Science Center. Transportation is convenient, with access to the PATH train, which connects residents to New York City in just a few minutes, as well as ferries and light rail options. The city is experiencing rapid development, with new residential buildings and commercial spaces continually emerging, making it a desirable place for both families and young professionals. With its blend of urban vibrancy and rich history, Jersey City continues to attract those looking for a dynamic lifestyle.

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