Mortgage Rates in Jersey City, New Jersey — March 2026
Updated March 2026 | Based on Jersey City market data and regional lending conditions
Jersey City is a mid-sized city in New Jersey with a population of 292,449. The current 30-year fixed mortgage rate in Jersey City is 6.7%, which is 0.05% above the national average. With a median home price of $565,000 and a 20% down payment of $113,000, homebuyers can expect a monthly principal and interest payment of approximately $2,917.
Current Mortgage Rates in Jersey City, NJ
Below are the current average mortgage rates available in the Jersey City area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.3% | 6.25% | +0.05% |
| VA | 6.1% | 6.05% | +0.05% |
| Jumbo | 6.9% | 6.85% | +0.05% |
Jersey City Housing Market Overview
The Jersey City housing market is competitive with prices well above the national median. The median household income in Jersey City is $76,951, and the cost of living index is 145.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $169,629 to comfortably afford the median-priced home in Jersey City, which exceeds the current median household income.
Monthly Payment Breakdown for Jersey City
Based on the median home price of $565,000 with 20% down ($113,000), here is what you can expect to pay monthly in Jersey City:
15-Year vs. 30-Year Mortgage in Jersey City
Choosing a 15-year mortgage in Jersey City at 5.94% instead of a 30-year at 6.7% would save you $366,120 in total interest over the life of the loan. However, your monthly payment would be $3,800 instead of $2,917 — an increase of $883 per month.
Calculate Your Jersey City Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Jersey City
What are the current mortgage rates in Jersey City, NJ?
As of March 2026, the average 30-year fixed mortgage rate in Jersey City, New Jersey is 6.7%, while the 15-year fixed rate is 5.94%. FHA loans average 6.3% and VA loans 6.1%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Jersey City?
Based on the median home price of $565,000 with 20% down, the estimated monthly mortgage payment in Jersey City is $2,917 for principal and interest. Including property taxes of $1,041/month, the total monthly housing cost is approximately $3,958.
What income do I need to buy a home in Jersey City?
Using the 28% rule, you would need an annual income of approximately $169,629 to afford the median-priced home in Jersey City at $565,000. The median household income in Jersey City is $76,951. This means most households would need to either earn above the median or consider homes below $565,000.
Is Jersey City a good place to buy a home in 2026?
Jersey City has a higher cost of living than average with a cost of living index of 145.5 (national average = 100). The property tax rate in New Jersey is 2.21%, which is above the national average. Jersey City has a population of 292,449 and offers a balanced lifestyle.
Mortgage Rates in Other New Jersey Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Jersey City, New Jersey area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.