Cost of Living in Jersey City, New Jersey
In Jersey City, the median household income is $97,710 and the median gross rent is $2,007/mo, with a median home value of $566,900. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $97,710
- Median gross rent
- $2,007/mo
- Median home value
- $566,900
- Population
- 294,078
How Jersey City compares to the New Jersey average
| Measure | Jersey City, NJ | New Jersey statewide | Difference |
|---|---|---|---|
| Median household income | $97,710 | $103,556 | -5.6% |
| Median gross rent (monthly) | $2,007 | $1,720 | +16.7% |
| Median home value | $566,900 | $454,400 | +24.8% |
Statewide, New Jersey prices average 108.8 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Jersey City
- Salary needed for median rent
- $80,280
- Rent burden at median income
- 24.6%
- Est. affordable home price
- $356,440
So that $2,007/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Jersey City is $566,900 — +59.0% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other New Jersey cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.