A commercial coastal city, part of the New York metropolitan area, Jersey City is a fast-growing economy, dependent on financial services, logistics, and retail. Due to its flourishing port, Jersey City holds a special place in the shipping industry.
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Considered as an alternative to New York City, prices in Jersey City are skyrocketing. With an increasing demand for houses, the median property price is close to $490,000. The constantly rising appreciation rates make Jersey City an ideal spot for long-term returns.
Being a blend of affordable and luxury housing, average market prices vary from $2,600 to $7,690/sqm.With families and students seeking rented accommodations, rentals in Jersey City are in constant demand.
In the outskirts, rents range from $1,520 to $2,170/month, while in the central parts they go as high as $3,925/month. Owing to the large student market, affordable rental properties drive a huge ROI.
The Waterfront – One of the most sought-after downtown suburbs in the US. The relatively high cost of living is compensated, by great accessibility and excellent amenities.
Downtown – A comparatively affordable area with a wide array of housing options. With a stable real estate market, Downtown is a magnet for businessmen and investors.
Asbury Park – A contemporary neighborhood attracting the young. Among the diverse range of properties, investors can choose between budget-friendly apartments and pricey penthouses.
With a growing demand and long-term investment opportunities, Jersey City’s real estate market is a BUY
