Cost of Living in Jersey city, NJ
Housing
The housing market plays a significant role in determining the cost of living in Jersey city, NJ.
- Housing Index: 145.0 / 100
- Median Home Price is: $579,000
- Average Rent (2 BR Apartment): $3200 per month
- Average Rent (2 BR House): $2800 per month
When considering a move to Jersey city, NJ, it’s essential to note the housing conditions. The housing index sets at 145.0, suggesting a relatively competitive market. With a median home price of 579000, purchasing a home could require a substantial investment. For renters, the average rent for a 2-bedroom apartment is 3200, while a 2-bedroom house averages 2800. Weighing these factors, it's critical to analyze your budget, as both homebuying and renting trends appear steep, contrasting with the national averages in similar regions.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Jersey city, NJ.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $14.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Jersey city, NJ could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $14.01 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Jersey city is a financially viable option for your relocation.