Compare Jersey City, NJ mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Jersey City.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Jersey City. Plus, shopping lenders is free and there is no obligation.
January 21, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Jersey City. Understand how much you need to earn to afford a home in Jersey City, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Jersey City fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Jersey City is right for you.
The median home value for Jersey City, NJ (Hudson County) is $512,666
Based on current mortgage rates and a 10% down payment, you need to make $83,998 per year to buy the median priced home in Jersey City
With this income, you could qualify for a $461,399 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Jersey City is $1,945
The median household income for Jersey City, NJ (Hudson County) is $85,181
Based on this income, you can afford a home valued at approximately $519,887
The home price you can afford to buy based on household income in Jersey City is 101% of the median home value which means housing prices are average. Jersey City (Hudson County) ranks 20 out of 21 counties in New Jersey and 3,010 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Jersey City, NJ is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Jersey City (Hudson County) below.
Conforming loan limits for Jersey City, NJ
FHA loan limits for Jersey City, NJ
VA loan limits for Jersey City, NJ