Rent-to-Own Homes in Jersey City, NJ: What You Need to Know
Jersey City is not New York City – it has a distinct personality all its own. The groovy apartments paired with the education system have attracted many students and young professionals. Public transportation helps get commuters into Manhattan quickly and cheaply. The neighborhoods here are fantastic and full of character.
Jersey City Real Estate: Housing Availability
Jersey City has a variety of housing types available for potential residents. The most common type is large apartment complexes or high-rise apartments; these make up 48% of all units in the city. Duplexes, homes converted into apartments, and small apartment buildings are also common, accounting for nearly 36% of units. The median home price here is $441,000, though the average selling price is $341,000. The average apartment size is 834 square feet, and the price for this size is $2,986. The rent for a one-bedroom is about $2,640, whereas two-bedrooms are around $3,450 per month.
Schools and Higher Education
There are 39 public schools in Jersey City, teaching 27,073 students. There are 31 private schools here as well, educating 6,250 students. Jersey City is close to Manhattan, which means all the excellent colleges located there are an option for students in this city. However, for those looking to cut the commute, New Jersey City University and Saint Peter’s University are within Jersey City.
Shopping and Higher Education
For shopping days, the Newport Centre Mall has everything. This mall is an upscale suburban all with plenty of dining stops for when you need a mid-shop snack. Hudson Mall is another location with lots of shops and restaurants.
Getting Around in Jersey City
Jersey City has some of the worst traffic in the country. Parking in the downtown requires a monthly pass and 14th Street is locally known as a nightmare, so most locals opt for public transportation. If you’re a commuter to NYC, the PATH (Port Authority of New York and New Jersey) is about to become your new best friend. The PATH is perfectly convenient, making your trip into the city a five-minute ride.
Know Your Neighborhoods
Waterfront is one of the best places to live in all of New Jersey. The 27,000 residents enjoy a dense urban environment; the majority of the residents are young professionals. The median home value is $690,835. The median rent is $2,608 and nearly all residents rent their homes.
Home to 19,000 residents, Historic Downtown is another New Jersey favorite. Many young professionals have settled here. The median home value is $637,333. The median rent is $1,769 and the majority of residents rent their homes.
Journal Square is home to nearly 21,000 residents, many of whom are young professionals enjoying a dense urban environment. The median home value is $384,864. The median rent is $1,173 and nearly all residents rent their homes.