Overview
Jersey City is situated in Hudson County in New Jersey State and has a population of about 250 thousand people. This is the largest city in the State after Newark and it is famous for being one of the most diverse cities in the entire US in terms of ethnicity and cultural mix. The population density in Jersey City is about 16 thousand people per square mile.
The economy of the city is definitely looking up, fact which is indicated
by the job and employment growth over the past year – about 6%; while
the estimated forecast over the next ten years reads about 1%. The average
income per household in Jersey City is US $50 thousand annually which is a
very comfortable income. The cost of living is about 30% more than any average
city in the US. Both
these factors clearly indicate that the Jersey City is a great place for relocation.
Jersey City Real Estate
The cost of an average home in Jersey City is about US $325 thousand which
is a little on the higher side. However, in spite of the steep prices of home
in this city, there has been a huge appreciation of about 14% over the last
year prices. This indicates that buying property in this city is definitely
a good investment.
How to rent or buy in Jersey City
There are more than 68% people living in rented accommodation here; another approx 6% of the property would usually lie vacant. This leaves us with only 6% of the people owning their homes in Jersey City. In case you need to buy or rent any of that property the best place to go is to a real estate agency which would be able to guide and assist you in your endeavor.
