Jersey City Real Estate Market Update 2021 • Benzinga
Jersey City, sandwiched between Newark and New York, has had an interesting couple of years. This metropolitan area has always been a hot spot for jobs, commuters, college students, and travelers alike. The recent pandemic, however, caused an uproar in the real estate market in these areas, with the cities just now finally seeing a more promising outlook.
Current Jersey City Market Conditions
- Median home prices have seen a steady increase, but rental prices have decreased.
- Although construction costs have continued to rise, builder sentiment and construction jobs also have risen year-over-year.
- There has been an increase in employment but a decrease in households.
Buying a House in the Jersey City area
Jersey City home prices
Jersey City median home value: $635,000
National average: $371,000
Home prices in this area have continued to rise in…