Despite all that new housing, the city is still pretty expensive: According to realtor.com, the median rent for all properties in Jersey City is $2,000 per month, and an analysis of the average rate for two-bedroom apartments based on prices on Apartment Guide and Rent.com found that Jersey City was the fifth-priciest
How much does it cost to live in Jersey City?
Jersey City cost of living is 146.8COST OF LIVINGJersey CityNew JerseyHousing209.9142.4Median Home Cost$572,300$397,900Utilities111.9109.2Transportation153.7127.74 more rows
Is Jersey City a poor city?
The Poverty Rate across the state of New Jersey is 10.7%, meaning Jersey City has a dramatically higher than average percentage of residents below the poverty line when compared to the rest of New Jersey .Poverty Rate in Jersey City, New Jersey.CityPoverty RateJersey City18.7%Kearny11.7%Secaucus6.8%Union City23.0%6 more rows
Why is rent so high in Jersey City?
The Demographics. Population has a direct relationship with rent. Higher demand means higher prices because a place continues to become desirable to people. As the second most populated area in New Jersey, the endless possibilities of everyday life is impressive.
What is middle class in Jersey City?
The overall average in New Jersey for what is considered to be middle class income for a family of four is between $60,000 and $177,000 a year. According to Rutgers University economist James Hughes, “middle class” can mean many things these days.
What is the racial makeup of Jersey City?
According to the most recent ACS, the racial composition of Jersey City was: White: 35.86% Asian: 25.13% Black or African American: 22.91%
Is Jersey City a good investment?
High Rental Income and Appreciation To add icing to the cake, Jersey City is also a very profitable location for traditional real estate investors. The average traditional rental income of a Jersey City real estate investment, according to Mashvisor, is $2,245.
How much does it cost to build a house in Jersey City?
How long does it take and what are the average costs? In general, if you have a conforming lot (25 by 100 feet, in Jersey City) and you want to build an average 2-family like those pictured above without anything custom or upgraded you should expect to pay around $125 per square foot and take 9-12 months to complete.
What jobs are in demand in NJ?
View the listOccupation2018 Employment2016-2026 Projected GrowthOccupation2018 Employment2016-2026 Projected GrowthArchitectural and Civil Drafters2,510350Audio and Video Equipment Technicians2,240250Bartenders17,3601,6007 more rows
Is New Jersey a good place to live?
TRENTON, N.J. - New Jersey now officially ranks as the best state in America to live in, according to WalletHubs annual list released Tuesday. New Jersey ranked in the top 10 for safety, quality of life and education. The state also ranked fourth for lowest crime rates.