Jersey City, NJ 07304 Real Estate Market Report

ZIP Code: 07304
Report Date: March 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Jersey City, NJ (ZIP 07304) is $549,999, reflecting a recent stabilization in market activity. This price point suggests a down trend in the area, with a year-over-year price change indicating a cooling market. Despite the broader city remaining a seller's market, this specific ZIP code appears to be balanced, with properties taking longer to sell, as evidenced by a median days on market of 313 days.

Inventory conditions show elevated levels, with excess supply relative to sales activity, which may indicate a shift in buyer sentiment. The median listing price stands at $599,500, creating a notable gap between listing and sold prices, suggesting potential pricing friction as sellers adjust expectations. Rental demand remains strong, with a median market rent of $2,578, supported by ongoing corporate interest in the area, indicating a resilient rental market even amidst these price adjustments.

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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 the Jersey City market average around 6.38% to 6.75%, which is slightly lower than the 6.65% average seen one year ago in March 2025.

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 median sold price of $549,999 indicates a down trend in property values, suggesting a cooling market.

2. Properties are taking longer to sell, with a median days on market of 313 days, reflecting slower sales velocity.

3. The median listing price of $599,500 shows a significant gap compared to the sold price, indicating potential pricing friction for sellers.

4. Rental demand remains robust with a median market rent of $2,578, supported by ongoing corporate interest in the area, highlighting a resilient rental market.

5. Market temperature is neutral, suggesting a balanced market environment with no clear advantage for either buyers or sellers.

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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.