Cost of Living Comparison for Jersey City, NJ
Updated 2026 · Local data pre-filled
Jersey City's cost of living index is 155 — 55% more expensive than the national average. This factors in housing, groceries, utilities, transportation, and healthcare. Use this calculator to see how your purchasing power would change if you moved to another city.
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How Jersey City Compares to the National Average
Understanding how Jersey City stacks up helps you calibrate your financial planning.
| Metric | Jersey City, NJ | US Average | Difference |
|---|---|---|---|
| Median Home Price | $580,000 | $420,800 | +37.8% |
| Median Monthly Rent | $2,622 | $1,713 | +53.1% |
| Median Household Income | $74,200 | $74,580 | -0.5% |
| Property Tax Rate | 2.10% | 1.10% | +90.9% |
| Cost of Living Index | 155 | 100 | +55.0% |
Sources: U.S. Census Bureau, BLS, Zillow, NAR (2024–2025). Green = favorable for residents; red = less favorable.
Jersey City Financial Snapshot
- Population (Metro)
- 295,000
- Unemployment
- 4.4%
- Avg Commute
- 35 min
- Median Age
- 33.2
- Price-to-Rent Ratio
- 18.4x
- Annual Property Tax
- $12,180
Frequently Asked Questions — Jersey City
What is the median home price in Jersey City, NJ?
The median home price in Jersey City is $580,000 as of 2025–2026. This is above the national median of $420,800.
What is the average rent in Jersey City?
Median monthly rent in Jersey City is $2,622. That works out to $31,464/year, or 42% of the median household income — above the recommended 30% threshold.
Is Jersey City affordable?
Jersey City's cost of living index is 155 vs. the national average of 100. With a median household income of $74,200/year and a median home price of $580,000, the price-to-income ratio is 7.8x. This makes homeownership a significant stretch for the typical Jersey City household.
What is the property tax rate in Jersey City?
The effective property tax rate in Jersey City is 2.10% of assessed value. On the median home of $580,000, that's roughly $12,180/year ($1,015/month).