Mortgage payment estimates, closing cost breakdowns, and homebuying data for Jersey City, New Jersey.
Pre-filled with Jersey City median home price and New Jersey tax/insurance rates. Adjust for your property.
Estimated closing costs based on New Jersey rates and fees applied to Jersey City prices.
The median home price in Jersey City is $575,000, 14% above the New Jersey state median of $505,000. With a population of 292,449, Jersey City is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in New Jersey average 2.47% annually. This higher-than-average tax rate means a $575,000 home in Jersey City would carry roughly $1,184/month in property taxes alone — plan accordingly. Homeowners insurance in New Jersey runs approximately $1,500 per year. This is within the normal range nationally.
Average rent in Jersey City is $2,650/month. The price-to-rent ratio in Jersey City is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Jersey City is a higher-cost market. At $575K median, buyers need significant savings or strong income. Down payment assistance through New Jersey's NJHMFA DPA Program program becomes especially important.