Home Values in Jersey City, New Jersey — 2026 Market Report
Updated March 2026 | Balanced Market | +4.9% YoY
The median home value in Jersey City, New Jersey is $565,000 as of March 2026, which is above the national median of $400,000. Home values in Jersey City have increased by 4.9% over the past year and 27% over the last five years. With a population of 292,449 and a median household income of $76,951, the price-to-income ratio stands at 7.3x, making Jersey City affordable for the average household.
Jersey City Housing Market Conditions
| Metric | Jersey City | National Avg |
|---|---|---|
| Median Home Value | $565,000 | $400,000 |
| YoY Appreciation | +4.9% | +3.8% |
| 5-Year Appreciation | +27% | +22.4% |
| Price per Sq Ft | $308 | $222 |
| Days on Market | 58 days | 45 days |
| Months of Supply | 3.1 | 3.5 |
| List-to-Sale Ratio | 97.6% | 98.5% |
| Monthly Homes Sold | 245 | — |
| Foreclosure Rate | 0.38% | 0.3% |
Home Value Trends in Jersey City
A homeowner who purchased at the median price of $444,882 five years ago in Jersey City would have gained approximately $120,118 in equity, representing a 27% return on investment. Over the past year alone, the typical homeowner gained $26,392 in home equity.
Affordability in Jersey City, NJ
With a median household income of $76,951 and a median home price of $565,000, the price-to-income ratio in Jersey City is 7.3x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $4,439 compared to estimated monthly ownership costs of $3,724 gives a rent-vs-buy ratio of 0.84. In Jersey City, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Jersey City
The effective property tax rate in New Jersey is 2.21%. On a home valued at $565,000, the estimated annual property tax bill is $12,487, or approximately $1,041/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Jersey City is 145.5 (100 = national average), indicating living costs are above the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Jersey City, NJ?
The median home value in Jersey City, New Jersey is $565,000 as of March 2026. Home values have changed +4.9% over the past year, with a 5-year appreciation of 27%.
Is Jersey City a buyer's or seller's market?
Jersey City is currently a balanced market with 3.1 months of housing supply. Homes spend an average of 58 days on market, and the list-to-sale price ratio is 97.6%. Supply and demand are relatively balanced.
Are home values going up in Jersey City?
Yes, home values in Jersey City have increased by 4.9% over the past year. The 5-year appreciation rate is 27%, meaning a home worth $444,882 five years ago is now worth $565,000.
Is it better to rent or buy in Jersey City?
The average monthly rent in Jersey City is $4,439, while estimated monthly homeownership costs are approximately $3,724. The price-to-rent ratio is 10.6. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Jersey City, New Jersey is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.