Jersey City, NJ 07304 Real Estate Market Report

ZIP Code: 07304
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Jersey City, NJ, average 6.3% compared to the 5.9% market average seen in February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The primary indicator of recent market value is the 554,000 median sold price, which serves as the representative recent sale and suggests realized pricing is below current asking levels; this gap is consistent with a down price trend and implies ongoing pricing friction.

2. Liquidity appears slow given the 338 median days on market, which points to slower sales velocity and suggests buyers have increased negotiation leverage versus sellers.

3. Pricing and rental context show a 361 median price per square foot alongside a 2,389 median market rent; with rents trending up, rental income fundamentals remain supportive even as transaction prices face downward pressure.

4. Higher financing costs are an added headwind: the local 30‑year fixed rate at 6.3% (versus a 5.9% market average) and elevated interest rate pressure coincide with a neutral market temperature, indicating a headwind to near‑term price recovery while market balance remains roughly neutral.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.

Jersey City, NJ 07304 Real Estate Market Report

ZIP Code: 07304
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Jersey City, NJ, average 6.3% compared to the 5.9% market average seen in February 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The neighborhood's median sold price is 418,000, which should be treated as the primary indicator of recent market value and transaction activity; this level sits very close to the median listing price of 419,000, suggesting seller expectations are largely aligned with completed transactions.

2. Transaction velocity appears slow: the median days on market is 319, which suggests slower sales velocity and pricing friction that may require longer marketing periods before contract ratification.

3. Pricing density and valuation context are concentrated: the median price per square foot is 411, a metric buyers and appraisers should use as the representative recent sale benchmark when underwriting SFR and condo opportunities in this ZIP code.

4. Rental demand shows relative strength versus sales: the median market rent is 2,290 and rent year-over-year trend is up, while interest rate pressure is described as elevated (Current 30-year fixed mortgage rates average 6.3% compared to the 5.9% market average seen in February 2026), indicating financing costs may constrain buyer affordability even as rents rise.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.